Do you want to rethink that? To say Australia is ripping off America is bunkum.
In the main, Australia exports low profit margin commodities to America.
Besides crap cars that nobody sane really wants to buy, America does make pretty good construction plant, military hardware like missile systems and F35s, munitions, nuclear submarines, and commercial aircraft for anyone not yet making the switch from Boeing to Airbus.
On top of that, the US architects of globalisation 3-4 decades ago envisaged America retaining design, management and ownership control whilst giving away low paid American manufacturing jobs. That’s exactly as it played out, rather than other countries ripping off America. America is a leader global exporter of services, and yes, by design and acknowledgement their rust belt developed.
How much do you reckon an iPhone, iPad, Windows software, Microsoft Office really costs those companies for them to sell it to you for massive (rip off) margins!
The net result is a trading surplus well and truly in America’s favour.
