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Top economist on how China’s Covid crisis could affect Australia’s cost of living
video A senior economist has warned that the flow-on effect of China’s surging Covid cases could wreak havoc on Australia’s economy, which could see cost-of-living increase and affect major industries, such as retail, manufacturing and construction. The Australia Institute’s Executive Director, Dr Richard Denniss said that a snowballing factor of economic pressures – from the ongoing war in Ukraine, to rising interest rates – could see Australia’s inflation rate rise again throughout 2023. “The inflation we’re currently experiencing started with supply chain problems with Covid and was made worse by ... (full story)