Australian Treasurer Frydenberg: Economy must diversify to stave off China-shocks

“The Australian financial system have to diversify to stave off China-shocks,” Reuters cites excerpts from a speech, the country’s Treasurer Josh Frydenberg is possibly to supply at a management discussion board at the Australian National University.

Additional quotes
“It is no secret that China has these days sought to target Australia’s economy,”

“They have focused our agricultural and sources sector, with measures affecting a vary of products, which include wine, seafood, barley and coal,”

“Urge the country’s agencies to bolster their monetary resilience through focussing on different export locations barring China to “withstand any shocks we may additionally face.”

“The world we function in has essentially changed. We face multiplied strategic competition. This will see our monetary and safety hobbies increasingly more overlap.”

Market reaction
AUD/USD was once closing considered buying and selling round 0.7440, down 0.24% on the day, as the US greenback rebounds amid a worsening market mood.

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