13 May '11, 7pm

Australia's odds-defying bet on Chinese growth #Chinese #Australia #economy #trade #finance #investment #biz #exports

All in. That is essentially the message Treasurer Wayne Swan is sending about Australia's odds-defying bet on Chinese growth. The government's latest budget pledges to deliver the quickest improvement in the nation's finances on record - without specifics about how that will happen. The absence of such detail is telling and can be boiled down to one thing: An even bigger gamble on China's 10 per cent growth and its voracious appetite for Australia's resources. It is risky to so fully hitch the hopes of 23 million people to a single nation that is still developing. Hypocrisy was in the room last month when Australia rejected a Singaporean offer for its stock exchange. Mr Swan called slapping down the Singapore Exchange Ltd (SGX)'s US$8.8 billion (S$10.9 billion) bid for ASX Ltd a "no brainer". The whole shareholders-come-first vibe that pervaded before the global crisis los...

Full article: http://www.todayonline.com/World/EDC110513-0000276/Chinas...

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