Opinion
Two massive things happened while we were watching the budget
The retreat from globalisation will undoubtedly fuel global inflationary pressures, which will in turn keep upward pressure on interest rates.
Karen MaleyColumnistWhile most of us had our attention firmly focused on Treasurer Jim Chalmers’ third budget, two huge developments took place overseas that will be much more crucial in determining our future economic prosperity than any of the measures unveiled on Tuesday evening.
The first is that Beijing finally appears to be taking steps to address the bursting of the country’s property market bubble, which has slammed consumer confidence and crimped economic activity.
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