Chinese growth could slip to 7.5% or worse this year and that’s bad news for just about every country but Australia is particularly vulnerable.
The Australian talks about the latest Chinese efforts to get growth on track.
Australia’s Treasury has forecast China’s growth will be 8.25 per cent this year and 8.5 per cent next year. The forecasts, which Labor has used as part of its assumptions to have the budget back into surplus by the end of this financial year, appear optimistic.
All the talk about AUD as a safe haven doesn’t look so swell, as Jamie pointed out yesterday.
