onsdag 16. januar 2019

Australia's fortunes are linked to China's economy — for better or worse

Australia's dependence on Chinese money has been a blessing for the local economy, but it could unravel painfully if China's economic slowdown worsens.Given that China is the world's second-largest economy, its slowdown is expected to have a ripple effect across the world. A third of Australia's exports are shipped to China, meaning any shockwaves from Beijing will be felt particularly sharply in the lucky country.In recent months, China's economy has taken a beating as a consequence of its ongoing trade war and tit-for-tat tariffs with the United States.