Boom and Bust in Australiaâs Coal Country
James Fletcher travels to Mackay in Queenslandâs coal country to find out about the townâs tales of economic success and how itâs dealing with the current downturn.
While many developed economies have recently dipped into recession, Australia is enjoying a record 22nd straight year of growth. Thanks to a resources boom driven by demand from China, the global economic downturn barely registered in the âlucky countryâ. But Chinaâs growth is now stuttering, resource prices have fallen, and mining companies are laying off thousands of workers.
How to deal with the downturn has been a key issue in Australiaâs election. James Fletcher travels to Mackay in Queenslandâs coal country to find out about the townâs boom and see how it is dealing with the current bust.
(Image: A worker building mine equipment at Team Engineering. ±«Óătv Copyright)
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