Does Australia have a better economy than america?

Question

Does Australia have a better economy than america?

Answer 1

Right now it does. In the past the ratio of $US to $AU was           about $0.6: $1 . Now it is about $0.9: $1.

In other words the US dollar is worth less then a few years back.

Australia has a growth forecast of a healthy 3.7%. The long period of economic growth has enabled a fall in unemployment from 11% to 5%.Their last recession was in 91 whereas the US is now heading into a recession which hopefully will not outlast 2009. It currently has a budget deficit and is in debt to countries like China due to obtaining more money to fuel the Iraq war. Mortgage brokers are also going bust and foreclosures are at an all time high for at least the rest of 2008.

However, economic growth is still positive and inflation is under control. Current economic statistics are generally good, despite growth being revised downward. The Fed still expects growth of 2.75% - 3% next year.

It is likely the US economy will improve after 2009 especially when new govt takes power.

  

Answer 2

Not sure what you mean by better. It's much smaller. Per capita GDP is about 20% less.

Answer 3

its about the same with exchange rate.