The Australian economy too dependent on China

High-profile economist Chris Richardson is warning Australia would not be able to avoid a recession if China's economy stumbles.

Chris Richardson spaks at the Natuional Press Club 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.