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For nearly three decades, Australia seemed to have a sort of get-out-of-jail card that allowed it to glide through (lướt qua) the dot-com bust and the global financial crisis without a recession, while its citizens mostly enjoyed high wages, affordable housing and golden prospects.

When a recession did arrive, in 2020, it was because of the Covid-19 pandemic.

But four years later, Australia has been unable to shake off some of the headwinds, including a high cost of living — the price of bread has risen 24 percent since 2021 — a choppy labor market (thị trường lao động bấp bênh) and rising inequality. While these and similar issues are also troubling nations like Britain and the United States, they are particularly stinging to many in Australia, which has long seen itself as the “lucky country.”

Economists have long argued that too much Australian wealth is tied up in the housing market, even as shoddy policy, construction shortages and high immigration have brought an already low housing supply to a crunch point (điểm khủng hoảng).

Polling by the think tank Per Capita last year found that fewer than one in four Australians who did not own a home expected to be able to do so. “That’s not necessarily the be-all and end-all, if you’ve got a really stable rental system (hệ thống cho thuê ổn định),” said Ms. Hutley, “but we have terrible laws in this country.”

And despite the country’s plentiful bounty and its oft-stated love of egalitarian values, Australia’s wealth is increasingly unevenly distributed, as the nation joins the ranks of others confronting rising inequality (đối mặt với sự bất bình đẳng ngày càng tăng) and economic and generational strains.

source: nytimes,

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