@diligent; that mining boom current account windfall has nothing to do with federal government policy and would indeed be larger had Morrison and his Muppets not damaged Australia's relations with China.
Indeed, it's now imperilled because:
1. China has set about terminating its reliance on Old King Coal imported mainly from Australia
2. China has heavily invested in alternative iron ore supplies from African countries - soon to come on stream
3. When Brazil resumes iron ore exports to China following the tragic Samarco Dam Mine Disaster iron ore supplies will be plentiful and prices likely to plunge dramatically
4. Morrison has badly damaged Australia's offshore education sector - newly enrolling Chinese students are already heading to the UK and to the USA instead of to Australia
5. International tourism is dead in the water because Morrison refused to support it, degraded our natural attractions such as the GBR and failed to get Australians vaccinated.
So what has Morrison done with Australia's record run of current account surpluses - well he's been $Feeding $Greed so hard that instead of repaying Labor's GFC induced $160billion net debt, he's quadrupled Australia's Net Debt to $640 billion with it projected to rise to beyond a $Trillion by 2025 and with eye-watering Budget deficits until at least 2061.
