FINANCIAL WORLDWIDE CRISIS: THE ANTI-COUNTER CYCLE OF AUSTRALIA

摘要

IF AUSTRALIA HAS BEEN SUBJECT TO MAJOR INFLUENCES BY THE UNITED STATES AND EUROPEAN COUNTRIES, WHY IS ITS ECONOMY HEALTHIER THAN THEIR COUNTER PARTNERS? WHAT ARE THE ECONOMIC FOUNDATIONS THAT UNDERLINE THIS ANTI-COUNTER CYCLE OF FINANCIAL WORLDWIDE CRISIS FROM AUSTRALIA? WHAT ARE SOME OF THE LESSONS THAT COUNTRIES FROM EUROPE THAT HAVE NOT FARED DURING THE CURRENT FINANCIAL WORLDWIDE CRISIS SHOULD LEARN FROM AUSTRALIA? THE PURPOSE OF THIS PAPER IS TO REVIEW THE PRESENT AUSTRALIAN MANAGEMENT SYSTEM. FOUR CHANGES ARE IDENTIFIED INCLUDING EMBRACEMENT OF CORPORATE GOVERNANCE, A SHIFT TO ADOPT MORE R&D ACTIVITIES, A SHIFT TO ADOPT ENVIRONMENTAL SUSTAINABILITY PRACTICES AND EMERGING CORPORATE SOCIAL RESPONSIBILITY. ON THE CONCLUSIONS SETTINGS, A RECAP AND RECOMMENDATION ON HOW PORTUGAL, A MEMBER OF THE PIGS (PORTUGAL, ITALY, GREECE AND SPAIN) SOUTHERN EUROPEAN COUNTRIES CLUB FORGOT TO EMBRACE DIRECTIVES THAT HAVE BEEN APPLIED IN AUSTRALIA, TO AVOID THE ACTUAL FINANCIAL AND IDENTITY CRISIS.