Despite widespread economic recovery following last year’s Global Financial Crisis, Dr Les Coleman says we should be wary of rose-coloured glasses.
“Even the most optimistic forecasters aren’t expecting the economy to get back to full strength until the end of next year, and even these predictions are based on the variable assumptions of a resilient Aussie dollar, strong China and a continuation of strong commodity prices,” he says.
“The world is in a much better position economically than it was six months ago, but we are not out of the woods yet.”
Dr Coleman says many businesses got a real shock from the crisis as a result have become a lot more vigilant. However, he warns that many of the underlying issues causing the GFC have still not been addressed.
“We still have the same risks and there is no reason why the GFC couldn’t reoccur,” he says.
Dr Coleman is a Senior Lecturer in Finance in the Faculty of Economics and Commerce. A full staff profile can be found at: