Australian economy would take ‘economic hit’ in South China Sea war

The economic fallout from military conflict in the South China Sea would hit every major economy in the Asia Pacific, including Australia, according to a new report.One third of global shipping – worth $4.8 trillion of international trade – passes through the waterway, which links Asia with Europe and Africa.But any disruption would result in global shipping being rerouted around the south of Australia at huge extra cost, the study by the US National Bureau of Economic Researchsaid.READ MORE: China’s militarised island reefs ‘vulnerable to attack’…..Read More

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