Many opportunities and challenges await today's global economies. Rebalancing a country's financial position has the ability to bring down an entire nation in an instant. One country's financial gains require another's financial losses. The Australian economy is currently undergoing a major change which is leading to low productivity and rising unemployment. Despite current growth challenges, the Australian economy remains resilient and is positioned to continue into its “23rd year of uninterrupted annual economic growth”. Australia is made up of six states and a land area of ​​2.9 million square miles. The country is sometimes called the largest island in the world. Australia is the sixth largest country in the world in terms of land area and has the world's twelfth largest economy in terms of total (nominal) GDP. Australia has the world's largest supply of lead, nickel and zinc and is a global leader in mining. Australia is one of the richest developed countries in the world with the fifth highest (nominal) income per capita in terms of GDP per capita, amounting to AU$67,722. At the same time, Australia has a large inventory of high property prices and household debt levels among the highest in the world. Australia's population has grown exponentially over the last 10 years and it is mainly due to immigration. Around 28% of Australia's current population was born outside the country, and the rate is almost double that of other advanced economies. Australia's population growth is the opposite of what is happening in other advanced economies as population growth rates have been declining in recent years. Demographic trends are an important factor in many economic decisions and have a significant impact...... middle of paper ......Summary&prodno=5206.0&issue=Dec%202013&num=&view=>.Australia's climate plan: are you serious ? BRW. Np, nd Web. March 21, 2014. .MYEFO 2013-14. Commonwealth Budget 2013-2014. Np, nd Web. March 17, 2014. Repeal of the carbon tax. Department of the Environment. Np, nd Web. 17 March 2014. “Reserve Bank of Australia.” RBA: inflation target. Np, nd Web. 14 March 2014. “Trade – Australian Government Department of Foreign Affairs and Trade.” Trade - Australian Government Department of Foreign Affairs and Trade. Np, nd Web. March 13. 2014. .