ECONOMY

Rethink Success, a National Australia Bank whitepaper, revealed that 57 percent of Australians consider happiness as the basis for success in life. It was followed by having strong relationships, feeling fit and healthy, being a good person, having a good marriage, having good mental health and being control in own's life. More than 2000 people participated in the survey between ages 16 and 70.

China is Australia's biggest wine market today as it overthrows the United States. According to Wine Australia, the demand increases more than 50 percent to $474 million for the past 12 months. The US market ranks second with $448 million, while UK ranks third with $361 million.

The United Kingdom’s Brexit can bring new opportunities for Australians, according to Alexander Downer, Australia’s high commissioner to the UK. He said the UK’s exit from the European Union shouldn’t affect Australia’s chances of entering trade deals with the UK.

As the EU referendum comes to a close, the Australian market is preparing for a possible Brexit (Britain Exit from the European Union) win, which would have implications in the local market. Many Australian stock investors are waiting for the official outcome to arrive before buying or selling stocks.

Scott Morrison presented his first budget plan as treasurer on Tuesday, outlining the need for a more diverse economy and announcing a ten-year enterprise plan to support jobs and growths.

Jamaica is planning to end Queen Elizabeth II’s rule as well as legalise marijuana.

Negative gearing and capital gains tax are a looming battleground in the federal election, with a report last month showing that reforms would lead to rent increases of between 4% and 10%.

Young people have missed out at the expense older workers and migrants in the job market, according to new research on youth employment.

Faces of our Economy is a campaign that seeks to dive deeper into the makeup of the Australian economy - Australians from all walks of life, and at different stages of their journey. Meet 21-year-old photographer Andrew Hoang.

Our experience over the last 50 years has shown that new-to-the-world innovation risk can be managed.

The Turnbull government has announced a $75 billion infrastructure project to secure the future of Arrium Mining and Minerals, which entered into voluntary administration on Thursday.

Advancements in mobile technologies will pave the way for increased productivity, driverless cars and the Internet of Things.

Australian manufacturing levels hit record highs for the ninth consecutive month in March, with the sector outgrowing US and Europe expansions.

Leaders of states and territories have had mixed responses to the Prime Minister’s proposal to share the responsibility of collecting income tax between the federal and state governments.

There is no need to abandon fiscal equalisation, which has helped protect us from the regional disparities that afflict the United States.

Five new plans released by the CEDA show how the budget could be returned to surplus before the decade’s end.

"Cutting income company taxes also has good effects – it can encourage investment, it can encourage higher productivity, it can encourage more investment from overseas."

Australian analysts have warned that a Trump presidency might spell doom for Australia-US relations. According to an analyst, Trump hardly reflects the values that made America great.

The RBA’s model found that increases in uncertainty of a fairly modest amount are associated with a downturn characterised by lower employment growth, weaker retail sales growth, and a fall in consumer confidence.

The main threat to Australia’s economic future is population growth outpacing infrastructure development, says Infrastructure Australia chairman Mark Birrell.

Context is everything, says Laurenceson. And when it comes to China’s monetary policy, it’s frequently lacking, leading to the wrong conclusions being drawn.

The government’s attack on Labor’s negative gearing proposal was an “extraordinary abuse of economic modelling,” say the Australia Institute.

This week: the Australian economy exceeds expectations, while China continues to worry. RBA Governor Glenn Stevens has reason to smile, Janet Yellen less so.

A report argues that the over half a trillion dollars invested in infrastructure projects in the past decade failed to substantially lift economic output, with the 'margin of error' being as high as 30%.

Morrison has agreed to the acquisition of the land and assets of the Tasmanian Land Company (TLC) to Chinese-owned Moon Lake Investments.

The business community had stratospherically high expectations for the Turnbull Government, but the hype has failed to materialise into positive action.

Matt Barrie’s viral essay on LinkedIn and NSW Premier Mike Baird’s Facebook post awakened the debate on Sydney’s lockout laws. IBTimes Australia speaks to some Sydney bar owners and bartenders about the contentious bans.

The Chinese market did not seem bothered about corruption allegations, which would have sent the values of affiliated firms in western economies south.

As China’s economy expands and shifts from manufacturing to more consumption and services-based industries, Australian firms have the opportunity to tap into its 1.3b large market.