G'day Gindaldan. Your phrase "the method isn't great though" I'm guessing you're referring to tariffs? I'd have to agree having experienced the dead hand that tariffs did to industry here. It could be argued for early protection to help establish and support essential industries. But here that extended umbilical cord encouraged poor investment decisions, lazy management and dreadful productivity with a workforce dominated by corrupted unions. Taxpayer funds diverted to protection denied their use on more productive measures and and consumers wore the brunt in price and quality. The Hawke Labor government unwound these arrangements much to the consternation of protected industries and unions. As an economy largely reliant on trade we are all better off for it. There's a lesson to be learnt by US workers and consumers: be careful what you wish for.
BHP Price at posting:
$35.42 Sentiment: Hold Disclosure: Held
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