That event did not occur for another year, but when it ultimately did, we were a bit better prepared than otherwise might have been the case.
The conduct of policy in recovery Along with the fiscal measures taken by the Government, the recovery in China, and assisted by Australia’s better starting point across several dimensions, this approach has had some success in heading off the worst effects of a very serious international recession. Australia has had an experience that, even if labelled a recession, was a pretty mild one.