China trade links mean virus a $1bn risk

Original article by Adam Creighton
The Australian – Page: 4 : 29-Jan-20

Australian National University economist Warwick McKibbin estimated in 2003 that the SARS virus reduced the nation’s GDP growth by 0.07 per cent. He says the coronavirus could have a much bigger impact on the Australian economy, noting that the Chinese economy is now much larger and more integrated than in 2003, while Australia has become much more dependent on trade with China. Business and consumer confidence is also likely to be negatively affected by the new virus, having already taken a hit from the bushfires crisis.


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