China's credit-binge hangover is a big headache for Australia

As China weans itself off credit, demand for Australian commodities will remain flat for an extended period, with implications for tax revenue.

With the share market booming, it's easy to envisage that the good times have returned and so here we go again. When such sentiments abound, we all need to remind ourselves that what happens to Australia largely depends on what happens to China.

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