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How did Australia recover?

Just the same as most of the world at that time, WW2.

WW2 created huge demand for Australian men and products.

This was the event that jump started the Australian economy and created a manufacturing base for the country that would continue to exist till the late 70s.

What did they do to prevent it from happening again?

Nothing, in fact Australias economy has always been influenced by the supply and demand of other countries.

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