Better relations, demand for iron cushioning Australia from China woes

News Snapshot:

Beijing has already announced measures to bolster China’s feeble economic recovery out of the COVID-19 pandemic, which is being held back by a property slump, local government debt risks, and subdued domestic consumption. This week, the People’s Bank of China said it would offer low-cost financing to some of the country’s largest lenders in a bit to stimulate the housing market and overall growth, “It would require a strong dose of fiscal and monetary stimulus in 2024 to break the negative spiral,” said Raymond Yeung, ANZ’s chief economist for China, after the release of disappointing manufacturing data in December. He...