video transcript

ROUGH CUT (NO REPORTER NARRATION) STORY: Kevin Rudd was sworn in as Australian prime minister for the second time on Thursday (June 27), a day after toppling Julia Gillard and three months out from scheduled elections with polls suggesting the ruling Labor Party is staring at a devastating defeat. Rudd's resurrection as prime minister comes after three years of bitter infighting within the Labor leadership and as the world's 12th largest economy faces challenges from a slowdown in top trade partner China. Late on Wednesday (June 26) Rudd, a Mandarin-speaking former diplomat, highlighted the difficulties associated with "the end of China's resource boom" and said he would work to rebuild the government's strained relations with the business community. He made no mention of whether he would change policy or bring forward elections due on September 14.