On September 15, new Australian Prime Minister Malcolm Turnbull pledged to restore the slumping economy and build a listening government.

New Australian Prime Minister Malcolm Turnbull was described by an Australian newspaper as "the killer with a smiling face" - Photo: Reuters

According to Reuters, Mr. Turnbull announced that in the coming weeks, his government will introduce fundamental policies to ensure Australia's prosperity. He also affirmed that the new government will listen to the people.

“To be a successful leader in 2015 or at any time, you have to know how to bring people closer to you by respecting their intelligence,” Mr. Turnbull emphasized.

The Australian Chamber of Trade and Industry welcomed Mr Turnbull's message of a collaborative government and called on him to implement the reforms needed to boost the productivity and competitiveness of the Australian economy.

Mr Turnbull is expected to announce his new cabinet this week. Observers predict he will replace some of the old conservatives with newer, younger names. The number of women in the cabinet is also expected to increase.

It is almost certain that Treasurer Joe Hockey and Defence Minister Kevin Andrews will be replaced.

Political analysts say the Liberal Party's decision to oust former Prime Minister Tony Abbott and replace him with Mr. Turnbull is intended to restore stability to the ruling party in the face of the threat from the opposition Labor Party in the upcoming election.

Mr Abbott’s reputation has been significantly damaged by his hardline stance on immigration and same-sex marriage. “Mr Turnbull is a much bigger threat than the opposition party. The government may win another term,” predicted expert Peter Chen of the University of Sydney.

However, AFP quoted political expert Nick Economou of Monash University as warning that Mr. Turnbull will face many difficulties. The biggest problem of the Australian economy is the mining industry, which is struggling because of the decline in demand from China.

After losing his position, former Prime Minister Abbott criticized the government's constant replacement of Prime Ministers as being completely unfavorable to the country. The Australian media also showed little enthusiasm for Mr. Turnbull's campaign to oust Mr. Abbott.

The Daily Telegraph carried a picture of Mr Turnbull smiling under the headline “The Smiling Assassin”. The Sydney Morning Herald headlined “Coup”, and the Australian Financial Review warned that the Liberal Party was “tearing itself apart”.

According to TTO