We wish all of our friends in Australia a happy Australia Day.
Back in 1788, a group of British ships landed in what we now call Australia.
Today, Australia is one of the most stable democracies and economies in the world, as we saw recently in the 2014 Index of Economic Freedom:
"Australia’s economic freedom score is 82, making its economy the 3rd freest in the 2014 Index. Its overall score is 0.6 point lower than last year, with a gain in investment freedom outweighed by declines in monetary freedom and labor freedom. Australia is ranked 3rd out of 42 countries in the Asia–Pacific region. Over the 20-year history of the Index, Australia has advanced its economic freedom score by 7.9 points, one of the 10 biggest improvements among developed economies. Substantial score increases in six of the 10 economic freedoms, including business freedom, investment freedom, and freedom from corruption, have enabled Australia to achieve and sustain its economically “free” status in the Index. With an economy that benefits from sound fundamentals including monetary stability, low public debt, and a vibrant employment market, Australia has weathered the global economic uncertainty well. Openness to global trade and investment is firmly institutionalized, supported by a relatively efficient entrepreneurial framework and a well-functioning independent judiciary. Australia has a strong tradition of reliable property rights protection, and the legal system is transparent and evenly applied. Effective anti-corruption measures are in force."So that's another reason to say Happy Australia Day!
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