China crashes Australian dirt (or does it?)

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Gotti says we’re getting smashed:

This week’s dramatic announcement that the nation had actually achieved a budget surplus was based on high mineral revenues and a housing boom.

But Australia is about to be to be taught that in minerals China gives and then China takes away, and that in housing banks gave credit but the regulators and possibly the royal commission are taking it away.

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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.