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No, well not all of it.
Australia is doing quite well and will continue to do very well while we have vast mineral resources that the rest of the world is quite hungry for.
In the time that will elapse before Australia runs out of iron ore, countries will collapse economically and leading economies which once were in the west will give way to those rising in the east. Throughout all of this, Australia will still have mineral riches to profit from.
Australia's greatest need is for workers, I forsee a time where economic refugees from places like the USA and Europe line up to come to Australia for employment. It's already happening to some extent however as Australia will need 500,000 new workers in the next 5 years, this will accelerate markedly.
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