1. Global Financial crisis: how it started, where it is now and where it is heading
2. Impact of the crisis on global and Australian economy in particular the ICT
3. What does the crisis means for the ACT
Wednesday, February 04, 2009
Impact of the Global Financial Crisis on the Computer Industry
The Australian Computer Society hosted a talk by Professor Milind Sathye on ICT and the Global Financial Crisis and what it means for the ACT, 3rd February 2009. This had a sense of drama as the Australian Government had just announced its economic stimulus package and the Professor had come from discussing it at Parliament House. The Professor gave an clear explanation of the causes of the economic crisis, the proposed solution and the effects on the ICT industry and Canberra. He commented that the Government's proposed package at 5% of GDP was about twice the 2% the IMF recommended. The professor commented that ICT would do better than most industries, with a decline in hardware area but demand for software. Canberra might suffer if the Government had to divert money to stimulus packages in the states. The slides of the presentation will be provided to members.