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It has been widely anticipated that Australia's relationship with China is a bubble waiting to be burst. In October 2010 Prime Minister Julia Gillard spoke about the potential dangers of

Australia's mining industry over relying on Chinese demand.

Speaking to the Queensland Media Club she warned: 'If the demand for raw materials fell away, Australia would only remain strong if economic growth was broad based - encompassing services, manufacturing and agriculture.'

Gillard's government's action to station US troops in Australia while continuing dependence on exports to China, however, has been strongly viewed with suspicion by its trading partner and her people.

In a survey conducted in 2011 by the Sydney-based Lowy Institute for International Policy on 1,002 Australians, 57% of respondents said Australia invests too heavily in Chinese resources, while almost half the participants saw China as a looming defence threat. Sino-American relations have become strategic over the years, which raises the question - what if Australia is made to choose between China's trade and the US's security? But maybe it doesn't have

to.

Despite growing fears of a slowdown in China's demand for Australian resources, some experts believe the relationship between the two countries isn't over just yet. On hearing the news about

China's new growth target, Australian foreign minister Bob Carr told Xinhua that the move was fiscally responsible.

'I think everyone in Australia concerned with the Chinese relationship was aware that their growth, once over 10% per annum, would come back to the level of a mature economy and that is around

about 8 to 7%. It's still very high and as the Chinese economy matures its growth would come back,' Carr said.

CFA Institute Society of Sydney Qian Jingmin also told the paper that the resources sector is well-placed to absorb these kinds of shifts, and the impact won't be felt too harshly.

Although experts remain undeterred by China growth fears, Australia is looking to secure interest in its mining assets from other countries, just to be on the safe side.

According to BREE, Resources and Energy Quarterly report India's thermal coal imports from Australia are forecast to increase by 18% this year, compared to 2011, to a total of 92 million tons.

But, demand for mining commodities in the Organisation for Economic Co-operation and Development (OECD) is expected to be led by Japan in response to the rebuilding of infrastructure following the

March 2011 earthquakes and tsunami.

China is also looking to slash is reliance on Australia's resources and has announced plans to secure 40% of its iron ore imports from other overseas mines by 2015. The country plans to build two

or three mining groups with the capacity to import 100 million tons a year of ore during this period.

The country, as with other Asian countries, is looking to diversify their investments into mining regions in Africa and Latin America, and has already injected millions into Canadian mining

companies seeking to build new mines.

Whatever the outcome for Australia and China's relationship, it seems, for now, they can't live without each other. China's growth may be slowing, but it is still expected to continue its major

role as an importer and exporter, and Australia, with its growing coal and iron pre-production, may be too strong a supplier to ignore.

Although experts remain undeterred by China growth fears, Australia is looking to secure interest in its mining assets from other countries, just to be on the safe side.

According to BREE, Resources and Energy Quarterly report India's thermal coal imports from Australia are forecast to increase by 18% this year, compared to 2011, to a total of 92 million tons.

But, demand for mining commodities in the Organisation for Economic Co-operation and Development (OECD) is expected to be led by Japan in response to the rebuilding of infrastructure following the

March 2011 earthquakes and tsunami.

China is also looking to slash is reliance on Australia's resources and has announced plans to secure 40% of its iron ore imports from other overseas mines by 2015. The country plans to build two

or three mining groups with the capacity to import 100 million tons a year of ore during this period.

The country, as with other Asian countries, is looking to diversify their investments into mining regions in Africa and Latin America, and has already injected millions into Canadian mining companies seeking to build new mines. Whatever the outcome for Australia and China's relationship, it seems, for now, they can't live without each other. China's growth may be slowing, but it is still expected to continue its major

role as an importer and exporter, and Australia, with its growing coal and iron pre-production, may be too strong a supplier to ignore.

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