China to Boost Australia
China to Boost Australia – ECONOMIC growth in China and other Asian nations over the coming decades is expected to underpin the prospects for Australia’s economy, the central bank says.
Reserve Bank assistant governor of economics Philip Lowe says Australia is in a stronger position than any other advanced economy after emerging from the global downturn in better than expected shape.
“Risks of course remain, both in the advanced economies and in Asia,” he told a Committee for Economic Development of Australia (CEDA) forum today.
“But the central scenario for Australia over the next few years remains a positive one, with the challenges that we are likely to face being quite different from those facing the other advanced economies.”
Growth in the world economy had been uneven, with most advanced economies having a weak recovery while Asia rebounded far stronger, Dr Lowe said.
China to Boost Australia
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