{"id":32475,"date":"2023-02-22T09:24:18","date_gmt":"2023-02-22T02:24:18","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=32475"},"modified":"2023-02-25T09:31:09","modified_gmt":"2023-02-25T02:31:09","slug":"australias-opportunity-for-a-southeast-asian-boosted-economy","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/australias-opportunity-for-a-southeast-asian-boosted-economy\/","title":{"rendered":"Australia\u2019s opportunity for a Southeast Asian-boosted economy"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The ease of inflation is met by a rise of interest rate in an attempt to maintain the economy<\/span><\/p>\n<figure id=\"attachment_32476\" aria-describedby=\"caption-attachment-32476\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"wp-image-32476 size-full\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/02\/shutterstock_358028738.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/02\/shutterstock_358028738.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/02\/shutterstock_358028738-400x267.jpg 400w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/02\/shutterstock_358028738-600x400.jpg 600w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/02\/shutterstock_358028738-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-32476\" class=\"wp-caption-text\">Australia can offer support to Southeast Asia in terms of living sustainably and building a clean energy sector. TarasVyshnya\/Shutterstock<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Interest rates in Australia\u2019s economy has been rising, prompting Shannon Battison, the national president of the Australian Institute of Architects, to communicate her concerns on the sudden boost the real estate sector has witnessed in 2022, which did not continue into the new year due to the climbing interest rates, forcing developers to halt ongoing projects, reported <\/span><a href=\"https:\/\/www.theguardian.com\/business\/2023\/feb\/12\/australias-economy-running-hot-despite-rising-interest-rates-but-experts-urge-caution\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">The Guardian<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Reserve Bank of Australia (RBA) expected even more of an increase in interest rates by the end of the year with the decrease in inflation. Some analysts believe that the impact of these interest rates will be felt more intensely and for a longer period of time, especially as mortgages double from its original two percent fixed rate. Companies have even started joining external administrations for loans.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Multiple business associations spoke through Andrew McKellar, the CEO of the Australian Chamber of Commerce and Industry, saying that the RBA should not overestimate the country\u2019s economic health despite its speedy recovery after the pandemic. While inflation is easing, it does not mean increasing interest rates would benefit the economy.<\/span><\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/en\/australia-is-back-in-business-with-asian-investors\/\" target=\"_blank\" rel=\"noopener\"><strong>More:\u00a0 Australia is back in business with Asian investors<\/strong><\/a><\/p>\n<p><span style=\"font-weight: 400;\">This affects Australia\u2019s relations with one of the world\u2019s most dynamic economic regions, Southeast Asia. In his column on <\/span><a href=\"https:\/\/www.businesstimes.com.sg\/opinion-features\/why-australias-economy-matters-south-east-asia\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">The Business Times<\/span><\/a><span style=\"font-weight: 400;\">, Australia\u2019s special envoy for Southeast Asia, Nicholas Moore, discussed Australia\u2019s two-way trade with ASEAN countries, revealing that it has reached AUD127 billion (USD117.3 billion) in 2021, making up 14 percent of Australia\u2019s overall trade at the time. This can reflect or even improve in 2023 with more Australian businesses participating in external administrations.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Australia can offer support to Southeast Asia in terms of living sustainably and building a clean energy sector, just like in the Singapore\u2013Australia Green Economy Agreement. In return, Southeast Asian nations can help boost Australia&#8217;s economy through trade and possible investments. This way, the two region\u2019s relationship can be maintained, and both can reach their specific economic or sustainable goals with the help of each other.<\/span><\/p>\n<p><i>The Property Report editors wrote this article. For more information, email:\u00a0<a href=\"mailto:propertyreport@propertyguru.com\" target=\"_blank\" rel=\"noopener\">propertyreport@propertyguru.com<\/a>.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The ease of inflation is met by a rise of interest rate in an attempt to maintain the economy<\/p>\n","protected":false},"author":12,"featured_media":32476,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[149,3344,1284,116,462],"class_list":["post-32475","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-australia","tag-green-growth","tag-investments","tag-southeast-asia","tag-sustainability","news_country-asia-pacific","news_country-australia","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO 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