Reserve Bank governor Dr Philip Lowe has warned that surging debt levels in China raises the risk of a "serious accident".
Speaking at the Australia-China Relations Institute, Dr Lowe did not directly comment on political tensions between Australia and China but said there "can be ups and downs" in all relationships.
ABC's Peter Ryan says Dr Lowe's direct comments are significant given concerns about Australia's diplomatic impasse with China.
Here's my report from this morning's AM
Read the speech from Dr Philip Lowe
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