Wow, the repercussions of this could be huge. Australia's mineral boom really depends on breakneck growth in China. If China slows so do we. If their hydro output is checked that suggests an even bigger coal upsurge despite domestic supply problems. A big test for our PM will be if China asks Australia for a lot of coal as opposed to the current trickle. Rudd will want to help them but critics will point to the greenhouse ramifications. World attention will focus on Beijing's air quality in just a few weeks time and it could go badly.

While the specifics are hard to predict it looks like China's growth miracle must eventually stall perhaps taking Australia's mineral boom with it.