Australia's Economic Storm: Kearney Chairman Sounds Alarm

Adam Dixon, chairman of Kearney's Australia and New Zealand division, has written a book that warns about the challenges facing Australia's economy. Titled 'Australia: A Lighthouse in the Global Storm, The CEO Imperative', the book argues that stagnant productivity, slowing investment in innovation, geopolitical tensions, and AI disruption are all combining to threaten future growth.

According to Dixon, Australia is a privileged nation, rich in resources and strong institutions, but it can no longer rely solely on these advantages. He claims that advantage must be persistently earned in a world of accelerating technological change, rising geopolitical tension, and intensifying competition.

The book cites figures showing that labour productivity in Australia has slipped to its lowest levels this century, and that bigger AI budgets do not automatically translate to greater returns. Talent and investment are increasingly looking offshore for better pay-offs, while supply-chains have become a major concern for executives.