The Chinese don't just think or plan for today as western society does. They plan ahead, so don't worry about what they were doing yesterday or today, think outside the box to 5 or 10 years down the track.
Big Clive and Gina should make good use of their mining profits as it won't last. And here is why - The Chinese have a thirst for steel and need our resources to feed it. But what they do is a simple case of mathematics. Lets say the purchase price is around $160.00 AUD per metric tonne for iron ore. They will buy it at around that price (give or take the normal cycles), do this for say 5 - 10 years. Clive, Twiggy and Gina get excited over their massive profits and spend up on soccer clubs, Rolls Royces and regular lashings of caviar and McDonalds.
In the meantime Swanny is talking up our 'robust economy' in which everyone is 'making it big' (well everyone meaning pretty much the mining industry only).
While this is taking place the Chinese are actually not chewing through all of that ore they bought from us. They use 60% of it and stash the other 40% (bit like an old Chinese mining camp).
After 5 - 10 years of buying at $160.00 per metric tonne they tell Clive, Twiggy and Gina - 'Umm, we don't need your resources anymore, or at least we want to cut back on the buying volume because we have plenty, plus we have bought in to mines in Africa and they don't have all those pesky OHS laws and expensive Miners wages'. But we will buy it from you for $62.00 per metric tonne instead, for the next 10 - 15 years'!!
That is how China operate and that is what will happen. Today they
are our bitch for a short time, tomorrow we are their bitch for decades.
So yes, QF may be aroused over China, but it is China who have 'the bedroom dominance' over QF.