Australia has achieved exceptionally properly using China’s financial increase.
However the political and financial uncertainty surrounding the world’s two greatest economies – the US and China – level to more durable instances forward.
The property bust and the hunch in building is trigger for alarm for Australian miners.
Building in Could was about 80 per cent decrease than the identical month 4 years in the past, and continues to trace decrease.
Commodity markets are already getting ready for an additional downturn. Iron ore is near dipping beneath $US100 a tonne and copper, after hitting a brand new document in Could, is in retreat whereas aluminium, tin and nickel all slid in July.
Chief enterprise correspondent Ian Verrender takes a take a look at what’s behind China’s slowdown and the implications for the Australian economic system.
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