Australia is perhaps best-known for its beer drinkers, barbecues, crocodiles and sheilas, but don't let that fool you into underestimating the business savvy of those Aussies. The island from down under is leading the developed world in economic recovery, and investors are starting to take note. "We're in a much better neighbourhood than Canada," Brian Redican, a senior economist at Macquarie Bank in Sydney, says of Australia's trade relationships with the developing and emerging markets of the Asia-Pacific. Australia's trade with China has been key to keeping the economy growing, but Mr. Redican says quick economic management has also been...