China has been a great driver of our economy - but we can`t rely on it | Greg Jericho
(The Guardian China)

Australia is more affected by China´s economy than most countries. We must diversify - towards the service sector but also to other Asian marketsThe importance of China to our economy over the past 15 years can hardly be overstated, but with that importance comes risks. A new study by researchers at the IMF looks at the links between the Australian and Chinese economies and examines the risks to Australia from both positive and negative shocks to the Chinese economy - and concludes that the best mitigation is to continue to diversify our economy towards the services sector and also to other Asian markets. The importance of China to Australia is perhaps best demonstrated by the change in the amount of our merchandise exports that go to that country now compared to 15 years ago. Related: As the service sector overtakes blue-collar jobs, we must mind the wage gap | Greg Jericho Related: China unveils shake-up of bank regulation to rein in credit spree Continue reading...