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Word Count: 1,181
When we look at the Swiss economy we can see immediately that it is almost opposite of our own economy It has a high franc which has no real threat to their exports due to the specializations of their industries eg Pharmaceuticals and watches which are in high demand and whose prices dont decrease dramatically Their high franc is also useful to all industries due to the fact that Switzerland itself doesnt have many types of resources so their high franc can buy more resources which are mostly used to create products for export Their interest rate is also extremely low as is unemployment Switzerland can attract people to put money into their banks and institutions due to their stability and safety The Swiss economy is also very stable - their boom and bust cycle is kept so that it is stable unlike Australia which has tended to get to very big booms and also very big busts The Australian economy has to regulate its dollar to help exports of its resources the prices of which fluctuate constantly Australia has to increase interest rates to attract people to invest and place money in Australia it also increases interest rates to keep inflation in check From this simple comparison we can already see that the Swiss and Australian Economy is very different and that their responses to different issues would naturally be different Switzerland has had the least inflation of any country in the past century At any point in time Switzerlands inflationary history was similar to that of the rest of the world but its actual inflation rates were lower Its inflation rate is currently still very low around 13 Australia is currently staying at 2-3 Switzerland has followed an explicit policy of minimizing inflation The Swiss National Bank is independent of government influence and decides interest rates this is also true in Australia where the reserve bank is independent Both Switzerland and
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