This from the Australian Financial Review
…. Australia’s economic destiny is now more closely aligned with China than with any other nation in recent history, with the so-called “correlation coefficient” between GDP increases in both countries rising to 0.98 from 0.25 in the 1990s. Which means that weaker GDP growth in China pretty much results in an equally slower pace of economic expansion in Australia.
Fear over China’s growth rate
AFR 29 December 2010, page 3