Kevin Rudd Declared That The Chinese-Driven Commodity Boom Is Over

The remarks came during his announcement that he would stand for Australia’s parliamentary spill — basically, that he was challenging now-outgoing PM Julia Gillard’s leadership. 

Here’s the full text from the relevant snippet:

I believe that what the nation needs now is strong, proven national economic leadership to deal with the formidable new challenge Australia now faces, with the end of the decade-long China resources boom and its impact on Australian jobs and living standards in the future. Given that our economic relationship with China alone now accounts for nearly 10% of the total size of our economy, this is a massive new challenge. 

Here’s the clip (start around 3:32):

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.