Australia world’s richest country but global economy could bite back
Central banks around the world are struggling with the beast named inflation, and Australia's position atop the global wealth rankings will be sorely tested as international economic policies unfold.
Can Australia can insulate itself from recessionary pressures with the world's central banks locked in a lengthy fight with inflation? (Image source: Shutterstock.com)
Years of rampaging property prices have made Australians the richest country in the world, but a world of pain could also be in store if global economics take a turn for the worse.
As the nation and the rest of the world learnt more than a decade ago to its horror, when a butterfly in the United States flapped its wings and a Global Financial Crisis erupted, events offshore can have massive ramifications in Australia.
Credit Suisse’s annual glo…
