SYDNEY—A global trade war was a “significant risk” to the world economy though Australia’s shrinking current account deficit meant it was less vulnerable to external shocks, the deputy governor of the country’s central bank said on Tuesday.
Australia’s net foreign liabilities as a percentage of gross domestic product have declined over the past decade to their lowest since the early 2000s, Reserve Bank of Australia (RBA) Deputy Governor Guy Debelle said in Canberra.
