Treasurer Jim Chalmers has warned that China’s slowing economic growth could pose a major challenge to the recovery of Australia’s economy.
Jim Chalmers, the treasurer, responded to information from Beijing’s National Bureau of Statistics yesterday evening. The Chinese economy only increased by 3% in 2022, which was the worst growth since the middle of the 1970s and much below the nation’s official aim (barring 2020).
According to Chalmers, this will be one of Australia’s biggest economic concerns at the beginning of 2023. He also notes that the world economy is currently unstable, with developments in China playing a significant role.
