Australia at crossroads as China resources boom ends, says Rudd

Australian Prime Minister Kevin Rudd on Thursday said the China resources boom was over, leaving the economy at a crossroads, as he called for a new productivity pact to boost competitiveness.

In his first major policy speech since ousting Julia Gillard as leader, Rudd also urged a sharper engagement with Asia, particularly Indonesia, to help smooth the nation’s economic transition from its reliance on commodities.

“If we make the wrong decisions now, we will be living with those decisions for the decade ahead,” he said.

via Business feed http://www.scmp.com/news/asia/article/1280190/australia-crossroads-china-resources-boom-ends-says-rudd