Both the government and opposition are committed to reducing greenhouse gas emissions by at least 5% below 2000 levels by 2020, and, in the case of the government, by up to 15-20% if there is a global agreement. The Australian Government has established a target of an 80% reduction by 2050. To date, the Australian economy has escaped the worst impacts of the Global Financial Crisis and the Great Recession, but uncertainties remain. Key trade exposed sectors such as manufacturing, tertiary education, and tourism have been negatively impacted by strong terms of trade associated with a resources boom that is predominantly benefiting the resource rich northern and western states and territories.