Many blame the deep trouble China’s real estate sector is mired in, but despite good employment figures the AUD has shed almost 4 cents on its sudden way down.
This has happened very quickly, and speculation as to the extent of the fall is difficult to get any economist to commit to. If this adjustment continues for any significant period tougher times are ahead as imports rise in cost and exports to China dry up.
Image: Image: Shutterstock – Motortion Films
Produced By: Roderick Chambers
Featured In Story: Tim Harcourt Chief Economist IPPG and Industry Professor at University of Technology Sydney
First aired on The Wire, Wednesday 16 August 2023