Exactly, there are other economies and still much to be developed Worldwide that will need steel, for instance African development. It would have a massive impact on the price if China pulled back on demand, and clearly if it wants to transition to a consumer economy this will happen in a big way, however did the wheels fall off Australia in the mining bust a few years back? No, some miners went to the wall but overall because we are a low cost producer it ultimately set us up to benefit from the boom today. 'Hostage' to China and other attention grabbing headlines are just that, all these predictions and assertions also fail to account for any adaptation. The Australian economy is not a static beast, capital and people will migrate to where it can get a return within the economy.
