The mostly deserted steps of the Sydney Opera House, where scheduled public performances have been cancelled due to the coronavirus. Photo: Reuters
Coronavirus leaves Australian economy facing first recession in 30 years
- High household debt and a reliance on Chinese demand for its exports leave Canberra acutely vulnerable. Some predict unemployment will hit 15 per cent
- Australians have little experience of economic hardship – the country’s last downturn was in 1990
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Coronavirus outbreak
The mostly deserted steps of the Sydney Opera House, where scheduled public performances have been cancelled due to the coronavirus. Photo: Reuters