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Australia's irrelevant election

Short sighted policies have left economy at the mercy of external events

| Australia, New Zealand, Pacific Islands
One half of the time Australian prosperity is based on digging things out of the ground and selling them to foreigners at good prices.    © Reuters

When Australians go to the polls on May 18, the choice for all intents and purposes is between the center-right (Liberal and National Party coalition) and the center-left (Australian Labour Party).

However, any new government's ability to implement its policies will be determined by foreigners not on the ballot paper. The election, at least at one level, may be irrelevant as complex inter-dependencies mean that Australia's economic prospects are substantially outside its control and at the mercy of global markets.

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