Australia has 'too many eggs in the China basket': Richardson

High-profile economist Chris Richardson is warning Australia would not be able to avoid a recession if China's economy stumbles. The warning comes as Prime Minister Malcolm Turnbull works to improve two-way trade with another Asian economic power, as his state tour of India draws to a close.

Chris Richardson addresses the National Press Club in Canberra Source: AAP

Last time China's economy stumbled, in the 2008 global financial crisis, Australia was well-positioned to weather the blow.

 

House prices were lower, interest rates were higher and the Budget was in surplus.

 

But if China stumbles again, economist Chris Richardson fears Australia won't fare so well.