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Australia faces 'sharp recession' if US escalates war
US President Donald Trump's threat to send Iran "back to the Stone Ages" has rattled equity markets. If he follows through, Australia is at risk of entering a recession. In a prolonged war scenario, modelled by Oxford Economics Australia, the nation's gross domestic product would contract 0.3 per cent in the June quarter and fall a further 0.8 per cent in the three months to September. [...]