| Australia’s country doppelganger in Europe must be Norway. Norway is almost as sparsely populated as Australia. Its coastline is about the same length as Australia’s. But crucially, it is a developed economy heavily dependent on commodities.
There is one difference, however. Norway has used its revenues from oil and gas to establish a sovereign wealth fund (SWF), which is now one of the largest state funds in the world. Australia, on the other hand, has no such fund (the Future Fund operates on a different model)..............................................Full Article: Source
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