Hard economic landing would deliver a body blow

Original article by Geoff Chambers
The Australian – Page: 4 : 29-Aug-19

PwC’s chief economist Jeremy Thorpe has warned of the potential impact on Australia if the Chinese economy experiences a hard landing. He says the resulting downturn in Australia’s exports to China would reduce government revenue from corporate taxes and mining royalties, while Budget surplus forecasts would need to revised. Thorpe adds that there could also be mine closures and job losses in the resources sector if lower Chinese demand puts downward pressure on commodity prices.

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PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD, DELOITTE TOUCHE TOHMATSU LIMITED

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