China clouds the federal budget

Australia's key trading partner looks set for trouble and our budget is heavily based on China remaining stable.

Summary: The fortunes of China are key to the 2016 federal budget, because estimates contained in the budget papers are predicated on continued strength of the Chinese economy – we must keep in mind that our fortunes are intertwined closely with China not only in terms of mining but also food, agriculture and property.

Key take out: Soros Fund Management’s George Soros is predicting a hard landing in China as debt piles up – and this, more than superannuation or negative gearing, is likely to have a bigger impact on the budget.

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