Under tough global conditions Australian economy fares well
A major economic report from Deloitte Access Economics has just unveiled that Australian economy is demonstrating upbeat performance amid China’s ongoing slowdown, not to mention the overall state of the world economy. Indeed, Australian economy has kept surging notwithstanding a bunch of hurdles.
The report added that the rout in commodity prices as well as softening economic conditions in China would probably remain the most crucial challenges for the national economy in the short term.
Then, a number of developed and emerging economies will keep struggling amid China’s fallout of its economic evolution. As we already know, Chinese authorities persistently keep pumping stimulus money into the national economy, and this move can’t be regarded as an effective remedy.
Unfortunately, China’s stimulus effort is a great challenge for Australian economy. Though prices on such commodities as iron ore are still high, it’s not enough to back up another round of mining construction in Australia.