ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Australia banks on China tailwind as rate hikes threaten slowdown

Influx of Chinese students, tourists could help offset RBA's hawkish policy

Chinese students gather for photos at the University of Sydney on July 4, 2020, after a graduation ceremony was cancelled during the COVID-19 outbreak.    © Reuters

SYDNEY -- China's abrupt ending of COVID lockdowns late last year has sparked optimism in Australia that it will dodge a recession, even as its central bank keeps raising interest rates.

China's endless appetite for iron ore, coal and liquefied natural gas has underpinned the Australian economy's golden run over the last three decades. It helped the country avoid a recession during the 2008 global financial crisis, although trade disruption at the start of the pandemic resulted in a brief technical recession in 2020.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more