• Usually when the mining resource boom peaks and finishes Australia has had to endure a recession. The last time this happened was over twenty years ago in 1986. What is different between then and now in terms of the performance Australian economy? What happens when the boom goes bust?
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Unlike two decades earlier, now the World economy is much more globalised with many hoghly populaated, poor countries led by China and India are developing very rapidly towards economic prosperity. This should point to sustained, strong demand for mined output for the next two decades and the deep long mining industry depression may not arise. The amplitude of the cyclical fluctatations in demand will be reduced and the trade cycles in mining may become shorter in duration with narrower differebnces betwen peaks and troughs.
I doubt we are even close. * on an identical time as China could be artifically dampening call for to get extra effective pricing, India has been becoming their financial device at almost as rapid a value. India has relatively have been given started. * Many initiatives are yet to be realised yet. There are various junior mining agencies that have yet to get their mines operational and transport ore. lots of the basic organic gas fields are nonetheless looking forward to progression. * interior the Nineteen Fifties the government positioned an embargo on exporting iron ore. They lifted the ban interior the Nineteen Sixties and Iron Ore mining has by no ability ceased considering. Technically that's been booming for over 40 years. i could assume the mining growth will final yet another 50 years at a bare minimum. the certainty is in all probability far longer than that. a good number of Australia has yet to be totally explored in a geological experience.