Will Australia struggle to hold to no.1 spot hereafter?

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We have been seeing Australia struggling to compete with the Indians in the recent series to India. Indians have dominated them in most part of the series. though there have been times when Australia dominated, still they have not produced results. To look at stats Australia managed to take only 17, 14, 12 wickets in the last three matches against India. With such a poor bowling attack will it be able to remain as the no.1? What are your views?