Best of the financial columnists
Australia touts for new business
Neil Newman
South China Morning Post
“Seemingly impervious to recessions for decades,” Australia now finds itself “staring into a deep crevasse”, says Neil Newman. The country’s economy is heavily dependent on the export of minerals, including iron ore, coal and copper, largely destined for China. In 2020, iron ore alone made up 41% of all Australia’s exports by value. But Chinese demand is in “very sharp decline” as a “pending tidal wave of debt threatens to destroy three
