Part 3/7:
Australia's economic health has also benefited from its close economic ties to China, which has demonstrated an insatiable demand for Australian resources over the past decade and a half. However, recent trends indicate that China’s economy is slowing, which has started to impact Australia negatively through falling commodity prices.
This downturn raises concerns about Australia’s reliance on these resource exports that have fueled its economy. The mining sector, while substantial in terms of revenue, employs a small portion of the workforce—less than five percent—so shifts in this industry do not necessarily translate into widespread job losses.