FOREIGN TRADE: China slowdown spells trouble for Australia*

An assumption underlying the Rudd Government’s resources super profits tax (RSPT) on mining is that the China market will, if not markedly grow, at least remain at its current high levels into the foreseeable future. But will it?Has the Rudd Government found an El Dorado that economists outside the Treasury have failed to fully appreciate? Or is the proposed tax destined to end up, like virtually every other Rudd initiative, as a dismal failure?For if Australia’s soon-to-be-super-taxed mining se…

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