Australia's economy has experienced steady growth overall during the 21st century, fueled by strong demand for its natural resources, particularly from countries like China. However, the country has also faced challenges such as a slowdown in mining investment, a decline in commodity prices, and a shift towards a more services-based economy. Additionally, Australia has grappled with issues such as income inequality, rising housing prices, and a relatively high level of household debt. Overall, Australia has a resilient economy but faces ongoing challenges in adapting to changing global economic conditions.
