Australia in race to wind back industrial devolution
www.abc.net.au
We rank amongst the world's richest nations when it comes to personal wealth but, in terms of our economy and particularly its complexity, we sit amongst the world's poorest — and the situation is progressively getting worse.

We rank amongst the world’s richest nations when it comes to personal wealth but, in terms of our economy and particularly its complexity, we sit amongst the world’s poorest.

It’s a situation that is progressively getting worse.

At just 5.1 per cent of GDP, we have the lowest level of manufacturing of all 37 nations in the OECD.

  • A1kmm@lemmy.amxl.comEnglish
    5·
    7 days ago

    As long as these become state-owned enterprises, and aren’t selling at a loss and subsidising private interests, I think this is a good thing.

    If overseas manufacturing is undercutting for one of these reasons, I think it is reasonable to be protectionist about it (i.e. apply tariffs):

    • Laxer environmental regulations overseas.
    • Less stringent safety regulations.
    • Fewer employee rights (more casualisation, lower wages).