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'Betrayal. Dishonor. Revenge. Australian federal politics has turned into a soap opera. This week's episode: Ex-Prime Minister Kevin Rudd may oust the woman who deposed him at the head of the ruling Labor Party.

Should Prime Minister Julia Gillard lose her job due to fading popularity in the polls, it would provide a dramatic twist to domestic politics and an unlikely return to the top for Mr. Rudd. But it won't result in a major shift on the key economic policy moves of the past year: the introduction of carbon and mining taxes. '

'The issues plaguing Australia's economy at the moment aren't going to fade as a result of this political power struggle either. Unless China's growth slows measurably, the mining boom is likely to continue unfettered, pushing up the Australian dollar and hurting the competitiveness of the country's other industries. Like any good soap opera, the political showdown in Canberra is more entertaining than meaningful. '
http://online.wsj.com/article/SB1000142405297020490910457723...
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