15.02.2016 - How Australia Is Weathering the Commodities Rout
As Australia’s economy has slowed alongside the commodities rout, one surprising consensus is emerging: It isn’t nearly as bad as it should be. Other big resource exporters like Brazil and Canada have been slammed far worse by the falling commodities trade over the past year and a half that was sparked by China’s deceleration. Australia, in contrast, seems already to have passed its nadir and is set to recover over the next two years, the government and many economists say. “The economy is continuing to grow at a modest pace, in the face of considerable adjustment challenges,” Glenn Stevens, governor of the Reserve Bank of Australia, told parliament on Friday...............................................Full Article: Source
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