Australia braces for economy to shrink at fastest pace in history, biggest deficit in 75 years

Australia warned on Thursday that its economy will shrink at its fastest pace in history during the second quarter, while the budget deficit will be the biggest since the second world war as the country battles to contain the impact of the coronavirus.The government has stumped up tens of billions of dollars to fight the pandemic, which has ravaged global trade and forced the shutdown of much of the country earlier in the year, crippling the economy.China-Australia decoupling could hit …

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