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Asia Insight

Australia looks for boost from Chinese trade war stimulus

After 27-year growth run, the economy is weaker than it seems

FUMI MATSUMOTO and SARAH HILTON, Nikkei staff writers | Australia, New Zealand, Pacific Islands

SYDNEY/TOKYO -- Aisha, the 31-year-old owner of a Sydney investment property, had a wake-up call when three of the country's four major banks abruptly raised mortgage rates this month.

"Thoughts turn to selling," she said, fearing unpayable interest and a further slide in property prices, as the country's once red-hot housing market cools. A single mother who recently lost her job as a hospital administrator, Aisha has cut expenses by canceling her private health insurance, stopping subscriptions and switching to a cheaper mobile phone contract.

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