And yet, there are green shoot in the wilderness.
Do you know we actually manufacture beds here, for export to China? As the Chinese get wealthier, the last thing they want to do is....buy Chinese. Australian products are seen as good quality, and our food products clean and green. just look how Ballemey's is capitalizing on that with baby formula.
'Exporting' education is going to be HUGE. Just this week, I saw on the news that the Brisbane City Council is working with developers to redevelop older CBD office buildings into student accommodation.
Tourism should also be a big winner of a growing Asian middle class.
The question will be how well do we capitalize on the opportunities that are out there.
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