Global Impacts on the WA Economy
- The global economy is forecast to slow in coming years
- Inflation is falling across the globe, but significant risks are present as wages grow and the ongoing threat of escalating conflict remains
- The biggest threat to the trade-exposed WA economy is coming from China.
Many of the economic challenges faced by WA in recent years have stemmed from global issues: the COVID-19 pandemic, rising inflation and its impact on the cost of living, supply-chain issues, and economic shocks from the invasion of Ukraine. As an open economy, Australia is impacted by the global economy through trade policies, the value of the Australian dollar and the demand for our exports.
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