That is the partial cause of the high inflation pressure and upward pressure for wages in Australia. These are not usual because most of the developed countries in the world are suffering from deflationary pressure and high unemployment.
Relying on the booming mining industry to prop the economy is just unsustainable because the current economic development model employed by those developing countries like China is just unsustainable so that they can not continue to buy more and more natural resources form Australia. Besides, Australian natural resources suck as ores are also limited. Cycles in economic development is just unavoidable although they can be mitigated to some extent by government's policies.
