The deepening of the US-China trade war highlights the weaknesses in the Australian economy. In response to the new US tariffs, China devalued its currency to the lowest level in more than a decade, making Chinese exports to the US cheaper but also makes US exports to China more expensive. The trade hostilities comes amid a weakening domestic property market and slowed growth, putting Australian in a vulnerable position, which has had an impact on the Australian markets with ASX down this week.

AlphaBeta Director, Andrew Charlton warned that ‘an external shock caused by the trade war and currency war could be very serious for us’ and market watchers should not expect a quick resolution to the dispute.

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