Australia adjusting well to ‘profound impact’ of strong Asian growth, says paper

reserve-bank-of-australia

A Reserve Bank of Australia (RBA) research discussion paper, published today, finds the Australian economy has successfully adjusted to the rapid ascension of its terms of trade caused by strong Asian, and particularly Chinese, growth in the past decade.

Implications for the Australian Economy of Strong Growth in Asia by Michael Plumb, Christopher Kent and James Bishop says Australia's terms of trade have hit "historically high" levels as a result of booming commodity prices.

The authors say the

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