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Economy

China helps fuel Australian economic recovery despite trade feud

Hunger for iron ore offsets Beijing's clampdown on other commodities for now

A worker prepares imported iron ore for transport at a port in China's Jiangsu Province in 2019.   © Reuters

SYDNEY -- Australia has pulled itself out of its first recession in three decades thanks to its success against COVID-19, and China's appetite for resources looks likely to keep the economy humming despite the two countries' worsening tensions.

The Australian economy surpassed all expectations to post 3.3% growth last quarter, according to data released on Wednesday, while the country's central bank expects a "solidly positive" performance in the current quarter.

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