Simon Warner, Head of Macro Markets at AMP Capital says a hard-landing of the Chinese economy is the greatest macro-economic concern for Australian investors. He iterates that Chinese growth has been slowing and that China faces significant structural issues with reforming the economy for a new phase of growth. Australia risks taking too long to find the next investment cycle to replace the fading mining cycle. However, Warner expects that export volumes, domestic building and business investment could come through in filling this growth gap. Housing/building investment in particular may improve substantially as it is currently at historical lows.
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