| The Australian economy which has enjoyed steady growth over two decades has lately been witnessing a slump. Commodity abundance was the one of major driving forces of Australia – especially the base metals and energy product – that assisted the nation to dodge recession during the global financial meltdown.
However, slowdown in China, a major importer of Australian natural resources, falling prices of iron ore – Australia’s largest export, faltering consumer confidence thanks to government spending cuts and new tax burden in a 2014/15 federal budget have lately affected the nation’s growth...............................................Full Article: Source
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