The global economy; the deficit issue and what can be done about manufacturing

How do you know when we're in a global recession? Well, there's no precise rule but the economies of China, US and Europe are all facing challenges and uncertainties making forecasting difficult. And as Harvard Professor of Economics Kenneth Rogoff, says, we'll know when we are in one. And this doesn't bode well for Australia where long term forecasts are showing budget deficits. With election spending promises, neither side of politics is mentioning major reform that most economists know is a major requirement. The ABC's financial journalist and editor in chief of the Eureka Report Alan Kohler discusses. And manufacturing. We've all seen the images of Scott Morrison and Anthony Albanese in high viz, but what are they planning and is it enough? Jesse Adams Stein, senior lecturer and ARC DECRA fellow at the UTS School of Design talks through the possibilities.