Sunday 07 Mar 2021 | 23:51 | SYDNEY
What's happening on
  • 5 Mar 2021 11:00

    Her brilliant career

    An entertaining and informative memoir about a woman’s career through a deeply patriarchal profession in diplomacy.

  • 5 Mar 2021 06:00

    Vaccine hesitancy and the risks in rural Papua New Guinea

    Another vaccine drive could cause resentment among those who feel they don’t need it because “they are not sick”.

  • 4 Mar 2021 14:00

    An endless game of whack-a-mole?

    The efficacy of proscribing extreme-right groups is debated. How to keep ahead of their evolution is also challenging.

Global Economy

The ebbs and flows of global economic conditions, trade and capital flows, thus have substantial implications for the Australian economy, and Australia’s major regional trading partners. Understanding the broad trends, and identifying emerging challenges and opportunities within the global economy, is central to the work of the International Economy Program at the Lowy Institute.

The highly integrated nature of the modern global economy became especially evident during the 2008 global financial crisis. What began as a localised problem within the residential asset-backed securities market in the United States, eventually brought down major financial firms across the Western world, and ultimately pushed the United States and Europe into a deep and prolonged recession. Although global economic growth has recovered somewhat since 2008, it is still much lower than pre-2008 trends, and the hangover from the crisis has manifested itself in the form of high unemployment levels throughout much of the developed and developing world, as well as an increasing level of inequality both within and between countries.

Understanding the economic rise of Asia, and particularly of the growing middle class within Asia, is also crucial to the broader work of the Lowy Institute. Political economy analysis on major players in the region, chiefly China, India and Indonesia, features heavily in the work of the East Asia Program and the International Security Program.  

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