Great leap forward is Australia leaving Asia behind? Australia's stronger relations with the US, coupled with a major free trade deal being negotiated between the two countries, have critics asking whether Australia is turning its back on Asia. But is the "miracle economy" really leaping away?(Cover Story)

Business Asia | June 1, 2003 | Copyright

In a world dogged by economic downturn, deflation and catastrophic events, Australia stands out as an oasis.

Hailed by economists and observers around the world as being a "miracle economy", Australia has recorded growth rates over the past few years that other industrialized nations could only wish for.

But at this time of economic strength, questions have arisen about Australia's commitment to Asia. With its economy outpacing many others in the region, and a more intense focus on the USA as both trade and strategic partner, some commentators are asking ...

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