{video} Heightened tensions in the Middle East and fears over China’s economic downturn have led Australia to make cuts to its international economic forecasts, with Treasurer Jim Chalmers warning of a “fraught and fragile” global outlook ahead of the May budget. The budget has upgraded forecasts for China’s GDP growth to 4.25 per cent in 2024, up from 4 per cent in December, but has downgraded forecasts to 4.25 per cent in 2025 – down 0.25 percentage points more than previously expected. This marks the weakest three-year growth forecast for China since its economy opened up almost half a century ago. Following ... (full story)