Catch-Up/Overtake

Originally posted by moorookamick: ↑

Australia has to simply industrialise or perish, IMO.

We are 80% there, IMO, with an abundance of cheap raw resources, cheap energy , a well educated workforce, an established 1st World rule of law & access to Global Capital dominated by our friend the USA.

And to those anti-Aussie downrampers who maintain we cant do it due to high Aussie wages, then think again:
-manufacturing (even in China) is becomming more automated so that manufacturing labour input is becomming less important.
This is evidenced by already industrialised countries such as Germany, Japan & Korea where average manufacturing cost of labour (including social add ons) are equal to or higher than that of Australia.

The key to being globally competitive is mostly economy of scale and this is why, IMO, we should be the major global supplier of Steel & Aluminium
and basic manufactured products where processes are governed by CAD?CAM & not by human labour.

In the past te manufacturing agenda was hijacked by Trade Unions and Labor Governments who knocked any form of development that was not labour intensive ie: Jobs-Jobs-Jobs.This has been politically divisive.

Instead we need national Visionaries who simply redefine what industrialisation means in the 21st C:
-Add Aussie value to our prime exports of minerals & energy and to fairly share that added value with all Aussies.

this, IMO, will lead to a wealthier Australia similar to that of Norway or Saudi Arabia .

All we have to do is to double Australia's trade income by adding value to exports and the rest is up to the Government to ensure that all Aussies benefit. last year we had a Trade Surplus of $20 odd billion; just imagine if this were to be $200 Billion!

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"The report shows that Australia’s resource and energy export earnings appear likely to hit a new record of $282 billion in 2019–20, "
( Source: industry.gov.au)
By trippling the value 30% of our resource & energy exports by adding Aussie value via basic non-labour intensive manufacturing we could take our trade surplus to $200 billion and increase our GDP by 10%.

Not alone would this be an economic boom for Aus, it would decouple us from being dependant on China and save us from being meat in the US/China economic war sandwich.

We simply cant rely on Multinationals to do the job for us like what we did in the past. We didn't rely on Multinationals to build our NBN for security reasons (which will cost us $70 billion) , so why should we rely on multinationals who now dominate our resources and energy to do the job for us?
IMO, they cant be trusted with Australia's economic future.