You searched for: Content Type Commentary and Analysis Remove constraint Content Type: Commentary and Analysis Publishing Institution Lowy Institute for International Policy Remove constraint Publishing Institution: Lowy Institute for International Policy Political Geography Asia Remove constraint Political Geography: Asia Publication Year within 1 Year Remove constraint Publication Year: within 1 Year Publication Year within 10 Years Remove constraint Publication Year: within 10 Years Topic Economy Remove constraint Topic: Economy
- Author: John Edwards
- Publication Date: 08-2020
- Content Type: Commentary and Analysis
- Institution: Lowy Institute for International Policy
- Abstract: Despite Victoria’s second wave of infection, Australia’s economic recovery from the coronavirus is underway. The bitter aftermath includes high and rising unemployment, vastly increased government debt, and a markedly less congenial global economy. Though formidable, the fiscal challenge is well within Australia’s means, especially if the Reserve Bank remains willing to acquire and hold Australian government debt. It may need to do so anyway to suppress an unwelcome appreciation of the Australian dollar in a world where major central banks are committed to low long term interest rates. Australia’s increasing integration into the East Asia economic community offsets the drag from the major advanced economies, but the US–China quarrel and the dislocation of global trading and investment relationships it threatens heightens the tension between Australia’s economic and security choices.
- Topic: Debt, Economy, Fiscal Policy, Unemployment, COVID-19
- Political Geography: China, Asia, Australia, North America, Asia-Pacific, United States of America