Coronavirus economic impact: Australia could be among world's hardest hit nations

Australia's economy is unusually dependent on China, and a coronavirus-driven slowdown could mean billions in lost revenue

Australia could be one of the countries worst affected by the economic impact of the coronavirus outbreak as factories in China remain shuttered and millions of people are confined to their homes and banned from travelling.

The Reserve Bank of Australia on Friday stuck to its forecast of strong growth this year thanks to a rising housing market, and the stock market - along with others around the world - has largely shrugged off concerns about the global impact of the virus to remain close to all-time highs.