Scott Morrison’s China bear hug

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Scott Morrison is our new China bear, from the AFR:

Australia has five years to make its budget more resilient to a potential economic shock from booming debt levels in China, Treasurer Scott Morrison says.

Repeating warnings he made about a China debt crunch last month, Mr Morrison said it was “important for us to be mindful of those vulnerabilities”.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.