Australian treasurer, visiting Beijing, welcomes Chinese efforts to stimulate its economy
Australian Treasurer Jim Chalmers has welcomed efforts by China to perk up its slowing economy
BEIJING (AP) — Australian Treasurer Jim Chalmers on Friday welcomed Chinese efforts to stimulate its slowing economy, noting that its recent weakness has hurt Australia.
Chalmers was wrapping up a two-day visit to Beijing, the first to China by an Australian treasurer in seven years, as strained bilateral relations mend.
He told reporters that Australia’s economy was slowing because of global economic uncertainty, high interest rates and China’s slowdown.
“Those three things are combining to slow our own economy considerably and when steps are taken here to boost economic activity and to boost growth in the Chinese economy, subject to the details that will be released in good time, we see that as a very, very good development for Australia,” Chalmers said.
