SYDNEY - The Sino-U.S. trade dispute is causing businesses worldwide to put off investment decisions, crimping economic activity and risking a self-fulfilling global downturn, a top Australian central banker warned on Thursday.
“On the tariff side, the prospect of a 25 per cent tariff is a first-order consideration in determining whether to invest in a new factory or new machinery and where to locate that investment,” Debelle told a conference on risk. Debelle said the dispute was also eroding the system of rules-based trade that had lasted for decades
“But a further significant slowing in the Chinese economy and household incomes would clearly pose a risk,” said Debelle. “We do not expect much of an increase in wages growth although employment growth is expected to be reasonable,” said Debelle.
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