The Reserve Bank of Australia (RBA) warned that the rest of the world, such as Australia, will be threatened by the Sino-US trade war. New research shows that Australians are still reluctant to go to nearby shopping malls to get tax rebates. Drop it. On August 27th, the Deputy Governor of the Reserve Bank of Australia, Guy Debelle, delivered a speech to the Australian Society of Economics in Canberra, saying that a huge trade deficit would make Australia a “one” The fear of the Republic of Bananas has passed.
In his speech, Dr. Debel talked almost exclusively about Australia’s trade performance and external debt. He said that Australia’s international debt situation is now similar to that of the United States. As concerns about the US-China trade war continue, Dr. Debel said Australia is now at risk. He said: “All developments in Australia are carried out under the global trading system. Despite some shortcomings, the system has brought considerable benefits to the economic growth and welfare of countries around the world. Australia is clearly the mainstay of this system. Beneficiaries. The current threat to the trading system is a major risk for Australia and the world.” Before he made the remarks, the Reserve Bank of Australia Governor Philip Lowe held in the United States last weekend. A speech was delivered at the global central bank meeting. He said at the meeting that the central bank’s monetary policy was forced to bear too much pressure and could not cope with the economic shocks that were basically political in nature.
Josh FRydenberg, the finance minister, urged the Australians not to be alarmed last weekend because the United States and China announced new tariffs on each other’s goods, but he also admitted that if the trade war is not resolved This has an impact on the Australian domestic economy. The Morrison government hopes that the recent round of tax cuts will help stimulate the domestic economy of Austria. Last month, as millions of Australians received tax rebates, a new round of tax cuts has taken effect. The latest “Household spending intentions report” published by CBA (Commonwealth Bank) shows that consumer confidence has stabilized.