I read with interest that Australia's National Security Committee of Cabinet is set to sign off this week on a massive shipbuilding program to counter China's military buildup.
Thus far, estimated costs for this project equal approximately 20 billion dollars but experts predict the total spent could be at least 50% higher than that number. I wonder where the government will purchase the steel required for the ships they are proposing to build? Perhaps the Chinese will agree to sell us some. If that is the case, one can only hope they will sell us steel of sufficient quality to counter the warships they have built for their own navy. Or maybe we will use wood.
BSL Price at posting:
$3.32 Sentiment: None Disclosure: Held
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