Bloomberg (September 25)
2023/ 09/ 27 by jd in Global News
“China is the biggest buyer of Australian goods from iron ore to coal and food products and a windfall from recent elevated commodity prices helped Canberra report its first budget surplus in 15 years. If Chinese demand were to weaken, it would lower those prices and slim Australia’s trade surpluses, or even return it to deficits.” The Council of Financial Regulators (CFR) found that “The impact of a deeper economic deterioration in China will be mainly felt in Australia through weaker trade and reduced risk appetite in financial markets.”
Tags: Australia, Budget surplus, Buyer, Canberra, CFR, China, Coal, Commodity prices, Food products, Iron ore, Risk appetite, Trade surpluses, Windfall
