From The Australian:
The Prime Minister said his briefings from Treasurer Joe Hockey and Reserve Bank governor Glenn Stevens indicated it was “not unusual to see bubbles burst” with flow-on effects for global markets but stressed “the fundamentals are sound”.
“The good thing is that we haven’t seen any ramifications from the stock market in capital markets more generally. I wouldn’t expect any ramifications because, while the Chinese economy is slowing, the rest of the world economy does appear to be picking up,” Mr Abbott said on Thursday Island.
