Topic > The Pros and Cons of Economic Growth - 1227

China has been a supporter of most of Australia's booms since the 1960 "coal" boom. Even today, in 2015, China remains the largest benefactor of Australia. 2' shows an increasing trend in business investment from 2005 onwards, suggesting that some businesses in Australia were benefiting from this boom. Related to this, the trend in unemployment has also been affected, rising from 5.0% in 2005 to 4.2% in 2008. The mining boom is expected to come to a halt within the next 5 years due to the amount of resources we have at our disposal. they ran out over time. However, numerous individuals argue that this does not affect Australia's economic growth as factors such as growth in wage rates remained just as strong before the mining boom. Other areas, such as household income, also increased substantially during the boom period. “Figure 3” shows this as a 10% change from the years 2005-2006 to 2007-2008, reinforcing the idea of ​​income sustainability across the mining sector