Australia should continue its economic reforms

Comments on Michael Stutchbury “How we beat the recession”, 5/09/2009, http://blogs.theaustralian.news.com.au/currentaccount/index.php/theaustralian/comments/how_we_beat_the_recession/

Australia has benefited from the successful reforms from the previous successive governments, as well as China boom.

We have been able to weather the most severe world recession in many decades thanks to the past successes.

Macroeconomic policies, both monetary and fiscal, have played a useful role and contributed. Both the government and RBA should be congratulated, although the government should not over claim credits.

We should continue economic reforms to raise productivity and to stay in the front of world frontier.

Industrial relations changes are an unfinished business. The Rudd/Gillard government needs a strategy to move beyond its current rewriting of the IR laws after the next election if it retains the government, as it is expected now. There should be no complacency about that.

Relations with Asia especially with China also need to be attended closely.