Australia's decision to be the crusading arm of the US' increasingly desperate efforts to maintain global economic hegemony has China focused on investing in alternative projects around the globe, especially Africa, likely even ahead of developing its owned iron ore tenements in Australia. This is bad bad news for Australia and WA in particular.
Whilst China remains heavily dependent on Australia for iron ore, importing 60% of its total from Down Under; about 20% comes from Brazil, this market position will protect Australia for 5-10 years but thereafter our share will likely decline.
No wonder smart businesses like FMG are looking at investing overseas to diversify long term risk from iron ore and WA.
For Western Australians who remain focused on opening up the MidWest Region through China investing billions to develop its resources - we need to continue to resist the national China bashing agenda and to encourage our Premier to continue to stand strong on the need for cordial and friendly relations with our major customer.