The commodity boom plays to the region's comparative advantage: China and India are gobbling up Brazilian soyabeans and iron ore, Chilean copper and Peruvian silver.

相对来说，原材料价格上涨对该区域来说是有利的：中国和印度疯狂地购买巴西的大豆和铁矿粉，智利的铜和秘鲁的银。

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But the boom has been a mixed blessing for Australians outside the big mining states of Western Australia and Queensland that are feeding China's demand for iron ore and coal.

不过除澳大利亚西部几大采矿州及向中国供应铁矿及煤炭的昆士兰州之外，这样的繁荣对澳大利亚来说真是喜忧参半。

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The past two decades have been formidable for her country: curbing inflation (by creating the real and pegging it to the U.S. dollar), privatization (notably, the state-owned telecommunication and mining companies) and a commodities boom (soybean and iron ore).

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In Western Australia, where most of the iron ore resides, the boom has created unprecedented prosperity, along with a small tribe of billionaires.

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The grab by Argentina for control its national oil company, YPF, should throw the fear of God into investors round the globe about the way revenue-hungry politicians are trying to cash in on the global boom in natural resources like oil, gold, copper, iron ore.

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