At a minimum that means not only having hotlines between the two governments, but also cast-iron commitments from the Chinese always to pick up the phone.

ECONOMIST: Japan and China

However, Fortescue said that it expected demand from China to pick up and provide a boost to iron ore prices.

BBC: Fortescue mine in Australia

As for the Mining Boom III, the pick up in export volumes flowing from the surge in mining investment in iron ore, coal and liquid natural gas will start to get underway around 2014-15.

BBC: Viewpoint: Is Australia's resources boom over?