Australia's Post-Mining Boom Future Still Tied to Asia

Few countries have done so well out of China's belated economic awakening as Australia, which has sated much of the country's voracious appetite for overseas iron ore and metallurgical coal. Supply struggled to keep pace with demand and the prices of the raw materials for Chinese growth shot up. This translated into a large increase in the Australian terms of trade. This has undeniably contributed strongly to the sunny economic conditions that have prevailed in Australia for much of the past decade.