In spite of huge economic crises 2 years ago and even after facing a Huge natural calamity 9 months ago , Australia has come a long way and stood strong in the international economy . Australian are confident about their present state as a country in the present world scenario . They are confident about their abilities and a strong hope of a bright future. Their unemployment is at 5.9% and economic growth is 5%. This transformation is because of Booming economies like China, Korea and India and their demands for Australian's resources. Australia is able to create jobs in the worst scenarios that the world economy has faced . With their self-believes they were able to create jobs by opening new industries and a lot of new research opportunities . Australia has creates 36 new research institutes. In the last Quarter , Queensland recorded the strongest growth in any state . And it is not some type of a fluke or one time thing . This is a generational and re structural change that will change and improve national economy for a long time. Queensland have modernized culturally , economically and socially in 10 years and was able to catchup with what other states have covered in the last 30-40 years. Now the only challenge left in the decade to come is that they should be able to capitalize on the present situation , create highly educated and skilled workers to meet world expectations . Australia has a lot of wealth in their land and they are planning to use their wealth to come up in the field of education ,energy, gas, biofuels and renewable sources. If Australia is able to meet these expectations then it can become a big difference between the economical depression expected to come in Asian countries.
URl :http://www.theaustralian.com.au/business/opinion/challenge-of-our-times-harnessing-the-resources-boom/story-e6frg9if-1226140353839
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