Syrian crisis is slowly but surely blowing out of proportion. This does not mean well for the world economy. The war is costing money and lives. Australia seems to be out for the moment, but is it so? Well the reality is different.
There are Australian units in the war in Syria. The economy is feeding these soldiers and it will indeed has an effect on the economy. The recent shooting of the Russian fighter plane by Turkey does not augur well for the world. It might lead to a full on exchange between two blocks.
The world is slowly dividing itself into two blocks. Turkey and NATO on one side and Russia on the other is the current situation. USA is trying to be neutral but how long is the biggest question. Australia has bases of USA in Australia and here lies the threat. The bases are directly linked to control of USA in the southern hemisphere and Russia will surely see it as an aggressive base. Islamic State army is also not doing more than fuelling Russian war calls.
Australia gets economic grants from USA for supporting and keeping theses bases. It also is protection from Chinese aggression which is becoming a possibility by each passing year. So the future seems really uncertain. Hope the world leaders practice some restraint.