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Business investment has since sunk to a historical low of around 10 per cent of GDP. The budget papers anticipate an anaemic 1.5 per cent increase in business investment next year.
Despite the group's relative success at curbing oil production to prevent excess oil inventories from ballooning before the market fully recovers, India's booming case counts have prevented oil prices from a quicker recovery.
The EU has long sought to impose its carbon dioxide abatement policies on the rest of the world. A major setback to this was the Copenhagen climate summit in 2009.
Policies on offer in 2021 are determined from within a corporatist economic system which has a very different structure of influence to the post World War II mixed economic system based upon the economics of John Maynard Keynes.
Vaclav Smil, a Distinguished Professor Emeritus at the University of Manitoba, has written a clear and accessible article suggesting that 2050 is far too soon a target-year for all of this to take place.
The Guardian reports that after over 20 years of 'efficiency dividends' almost $10 billion a year has effectively been ripped out of the Aged Care budget.
