Profits from the Western Australian mining boom won't last forever, writes Tom Conley for Big P Political Economy.
Western Australia might actually need the rest of Australia in the future to cover its shortcomings if the mining sector falters. Whilst a boom in mining is undoubtedly a good thing in a state where mining makes up 33 per cent of Gross State Product, it also means that a slump in mining would disproportionately affect the West. WA has only been the biggest state exporter since 2002-03.
WA has some significant evidence to back its case that it currently carries the rest of the country, Queensland notwithstanding, but the rest of the East is not doing as badly as many in WA seem to think. It is also important to remember that exports only accounted for 21.2 per cent of GDP in 2011, down from 22.7 in 2009.
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