Australia is currently enjoying one of the longest runs of economic expansion in its history, fuelled by China's insatiable appetite for its mineral resources and the country's proximity to other areas of Asian growth.
'McMansions' are sprouting up across the landscape, salaries are rising and unemployment is at its lowest level in decades. It seems that the 'lucky country' is getting luckier.
Why, then, are Australians preparing this Saturday to ditch John Howard, their prime minister of 11 years, and to elect Labor Party leader Kevin Rudd in his place? Possibly because the notoriously timid electorate considers Mr Rudd a younger version of Mr Howard, one of the most conservative leaders ever elected.
The election has been one of the most policy-free campaigns of recent times, with politicians agreeing on most things. Former Labor leader Mark Latham has dubbed it the 'Seinfeld election' - 'the election about nothing'. But while Mr Howard and Mr Rudd mouth platitudes, there are growing concerns that the country and its political leadership are not making the most of the fact that they are in the world's fastest-growing and most dynamic region.
In property terms, Australia is like a cottage that suddenly finds itself in the best street in town surrounded by upmarket homes. By 2040, three of the world's five largest economies will be in Asia. Australia is sitting on a prime site, but isn't sure how to make the most of it.
To be fair, the Putonghua-speaking Mr Rudd has promised to seek closer ties with Asia and ditch Mr Howard's obsequiousness towards the US. But neither Labor nor Mr Howard's Liberal Party have really advanced a comprehensive platform to take advantage of what could be a golden age.
