Australia is heading for a severe economic shock — just at a time when the country is least able to afford it.
The Chinese Government has either placed bans on, or impeded, exports from Australia of coal, copper, wine, lobsters, cotton, wheat, sugar, barley and timber.
China knows it can inflict mortal damage on an already COVID-19 battered Australia, it being Australia’s largest trading partner with bilateral trade in 2019 totalling $252 billion. Read more…..
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CNBC’s Jim Cramer said Thursday the economic response by the Federal Reserve and the Trump administration to the coronavirus pandemic has been critical to the recovery in U.S. jobs and the financial markets.