aussie economy worse off than usa?, page-50

re: current account deficit??? does it matter Hi Probing,

Yes, from a manufacturing perspective, you are right. But for anything else beyond manufacturing, how can you explain away London, Singapore, Hong Kong, Canada, New York, parts of continental Europe, and even KL?

Far from being attractive to foreign business, we still erect significant barriers to entry (ala fully fledged foreign banking licences, media creation and content, as well as outlet ownership, for instance). That's where the reforms are not going, and that's why on the international scene we continue to lose out in terms of relative competitiveness, despite our obvious local /international advantages.