Is Australia Reaping the Benefits of the US/China Trade War?
Australia is one beneficiary of the escalating trade war between the US and China. Despite a recent growth run that was historic by developed-country standards, Australian markets have been facing a credit crunch, a slumping housing market, and weak investor confidence. The US-China trade war gave Australia’s trade with China a giant boost. Australia has logged a 30% rise of nominal exports to China since last year, led by sales of iron ore, Australia’s number one export. In addition to this trade increase, Chinese students are receiving more visas to attend universities in Australia as the U.S. restricts visas for Chinese students.
Still not convinced? There’s more at the Business Standard.
Courtesy of Raj Mahale, Board of Advisors member and Partner in the New York Office of KPPB LAW
