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Australia’s economy faces major hit as China considers scrapping growth target – NEWS.com.au
Australia’s economy faces major hit as China considers scrapping growth target
In the years since the Global Financial Crisis (GFC), the Australian economy has been heavily supported by demand for our mineral exports from China. During the GFC’s dark days, when it looked like Australia would follow the world into recession, the explosive demand for iron ore and other bulk commodities not only dragged Australia out of doldrums, but into an economic boom.
But like so many other elements of our relationship with China in recent months, this boom may also lead to something of…
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