China's economic troubles spark alarm for Australia | The Business | ABC News
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Publicado 2024-07-23
But the political and economic uncertainty surrounding the world's two biggest economies - the US and China - point to tougher times ahead.
The property bust and the slump in construction is cause for alarm for Australian miners.
Construction in May was about 80 per cent lower than the same month four years ago, and continues to track lower.
Commodity markets are already preparing for a further downturn. Iron ore is close to dipping below $US100 a tonne and copper, after hitting a new record in May, is in retreat while aluminium, tin and nickel all slid in July.
Chief business correspondent Ian Verrender takes a look at what's behind China's slowdown and the implications for the Australian economy.
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