Monday, 28 May 2012




ABC (Auatralia), May 28, 2012

EMILY BOURKE: The Reserve Bank has acknowledged China poses a potential economic threat to Australia.

Governor Glenn Stevens says China's economic data has been "materially slower".

The comments came as the governor addressed the Australian Payments Clearing Association.

Finance reporter David Taylor has been listening to the speech and he joins me now.

David, just how much of a threat did the governor say China poses to the Australian economy?

DAVID TAYLOR: Well certainly some threat Emily. The governor has made it clear that he's been watching economic developments in Europe and China, and both provide some risks to the Australian economy but the extent of those risks are not exactly known, even from the Reserve Bank.

And the governor pointed to two main concerns - Europe's debt crisis and China's property bubble. And we know that China has been slowing. If we're looking specifically at China, a few years ago they were, GDP - that's their economic growth - was around 10 per cent and now it's something in the order of 8 per cent.

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