Australia seen having more severe case of "Dutch Disease" than Canada

Toronto

THE currency market is diagnosing Australia with a worse case of "Dutch Disease" than Canada as both commodity-heavy economies suffer the fallout from slumping prices.

After a decade-long boom in raw materials that pushed up their exchange rates, manufacturing in both countries is shrinking and some economists are drawing parallels to the Netherlands when it became too dependent on natural gas after its discovery there in 1959.