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China’s warning could wipe $32 billion from Australian economy – NEWS.com.au
China’s warning could wipe $32 billion from Australian economy
China has warned Australia it is in for economic pain in the near future saying plans to hit our highest export are already taking effect and could wipe billions from our economy.According to CommSec, iron ore prices are down sharply again this morning, dropping US$11.85 a tonne or 5.9 per cent to US$188.25 a tonne — after hitting a record high of more than $US230 a tonne earlier this month.
That comes after it dropped 5.1 per cent at the end of last week — sending shockwaves through mining companies…
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