Describe Australia's global economic standing.

Australia's economy is a verse of 14 largest rated AAA with a stable Outlook of all three globals rating agency forecast that relates average annual real GDP growth of 2.7% over the next 5 years the highest among the main major advance economies

 Australia's economy is the verse 14 largest rated AAA with a stable Outlook by all three Global rating agencies forecast to relays average annual real GDP growth of 2.7% over the next five years --the highest among the major Advanced economies.

Explanation:

the proximity of water was an advantage to western europe and its culture was able to flourish as a result. trade and travel by sea were easier and safer in historical times.

1. there are no mountains to protect it from the sea

2. and its has wet cool summers and wet, mild winters.