Amidst the widening global financial turmoil, a strong Chinese economy is certainly one positive for the Australian economy.
But should we believe it is only factor that will save the day? The answer is no.
The tendency to assume that Australia is strong because China is strong is overblown, in my view. The Australian economy has a lot going for it.
While the Australian economy is undoubtedly more dependent on China than at any other time previously, the nature and strength of this dependence is, in general, poorly understood.