Yeah, but the vast majority of Australia's economy (just like the US and all other developed countries) is services, not resources or manufacturing or farming.

Yeah, but the vast majority of Australia's economy (just like the US and all other developed countries) is services, not resources or manufacturing or farming. We just talk about resources because they're a distinguishing feature. Mining is only 8.5% of Australia's GDP and 2% of its employment. Sure, it would suck for a few years if the whole sector vanished overnight, but it wouldn't cause long-term devastation.