The news that Australia faces a $30 billion revenue hit over the next four years as a result of lower iron ore prices, combined with a slowdown in China’s growth, spells bad news for the Australian economy. This report looks at predictions for the wider global economy.
A crackdown on cheap credit in China is expected to help reduce the rate of China’s real GDP growth from 7.4% last year to 6.8% this year and further weaken demand for Australian commodities, according to a new report by the International Monetary Fund.
A slow-down in the Chinese economy is expected to soften demand …read more
China Economy To Slow, Hurting Australia: IMF
