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    The Costs of COVID: Australia's Economic Prospects in a Wounded World

    80725.pdf (1.086Mb)
    Access Status
    Open access
    Authors
    Edwards, John
    Date
    2020
    Type
    Non traditional textual works
    
    Metadata
    Show full item record
    Source Title
    Lowy Institute
    Additional URLs
    https://www.lowyinstitute.org/
    Faculty
    Faculty of Business and Law
    School
    School of Management
    URI
    http://hdl.handle.net/20.500.11937/80703
    Collection
    • Curtin Research Publications
    Abstract

    Australia is emerging from the pandemic sooner and at less economic cost than widely expected, but with higher unemployment and elevated debt. As the pandemic recedes, it is evident that global output and demand will recover slowly and unevenly. Major advanced economies have sharply increased government debt and their central banks have driven interest rates to rock bottom while buying big shares of additional government debt. At the same time, the US–China quarrel has become more intense, and Australia’s relationship with China has deteriorated. All these changed circumstances, much amplified and extended from their pre-pandemic appearances, limit Australia’s choices.

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