Australia's stalled migrant boom derails golden economic run

SYDNEY: Australia's three decades of uninterrupted prosperity are coming to an abrupt end as the global coronavirus pandemic crashes one of its most lucrative sources of income - immigration.

The country has been successful in managing the outbreak and reopening its A$2 trillion (US$1.33 trillion) economy, thanks in part to an early closure of its borders.

But the policy has led to a halt in mass immigration - a key source of consumer demand, labour and growth - in an economy which is facing its first recession since the early 1990s. Read more: https://www.channelnewsasia.com/news/world/australia-immigration-covid-19-coronavirus-economy-12790164