The Bondi house that China built

The importance of Chinese capital to local property construction is growing, but governments can take other, easy steps to boost the industry.

Around the non-mining economy I am finding commercial building struggling and a number of building contractors are going the wall. I was talking to a close associate of one medium sized but substantial building contractors yesterday, and found that the builder’s banker was playing hardball on bank guarantees – an essential part of winning the limited number of tenders available.

Banks deny that they are playing hardball with business but that’s not what my construction mates are experiencing.

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