For Australia, there’s a lot riding on the assumption that substantial Chinese economic growth is assured. The continuing mining boom and its associated massive investment surge is heavily built around a belief that China will continue it’s three-decade spectacular growth well into the future.

If that belief proves false, Australia’s comparative healthy economic circumstances could change dramatically. That's why last week's warning from the Financial Times' bureau chief in China, Geoff Dyer, is worth more than a second glance. Dyer assessed the Chinese property market as being in high bubble territory.