Former Treasury Secretary Peter Costello said that if the US-China trade war escalates, the savings of Australian retirees will be erased. The former Union Party Finance Minister Peter Costello warned that if the Sino-US trade war continues, the Australians will suffer great losses. The savings of retirees throughout their lives will be impaired.
According to reports, former Finance Minister Peter Costello is currently the chairman of the Australian National Future Fund, and has a hundred billion investment funds. He also returned to the negotiating table as soon as possible to resolve disputes between the two sides to avoid more uncertainties in the global market. He said that all major funds are currently ruined by Sino-US trade disputes.
If the two sides do not resolve the trade dispute as soon as possible, then the global and Australian retired old people will be hurt and their retirement savings will be reduced.