Australia is the clear loser from China's economic woes, warns S&P

Despite a strong bounce back on the stock market after Tuesday's heavy losses, Australia must adjust to the slowdown in China, rating agency warns

Australia is the "clear loser" from China's economic slowdown, according to a leading credit rating agency.

Despite a strong recovery by the Australian stock market after Tuesday's heavy losses, Standard & Poor's says China's trading partners must adjust to the Asian giant's slowing economy with commodity suppliers such as Australia hardest hit.

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