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Originally Posted by Bevsta007
Without the Mining Boom, it would have been a lot different.
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It definitely helped but wasn't the only factor as I believe a few things happened together protecting Australia from sliding into recession.
1. While mining investment, commodity prices and mining jobs fell during the key period of the global financial crisis, the mining boom placed Australia in a strong economic and fiscal position ahead of the crisis, and helped accelerate the post-crisis recovery.
2. Lending a hand were a low exchange rate and stimulus spending in China, which helped sustain mining exports during the crisis.
3. The government's swift and decisive response was also a key reason Australia did not follow most of the developed world into recession.
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If that were so Toyota would have built their top sellers Corolla & Hilux here.
They used to make Corollas, but stopped years ago
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Honestly, Toyota had no compelling reason to make them here, the Federal government
removed all barriers to Toyota just importing them from low cost plants elsewhere,
I bet they pocketed all the savings from that too.