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You are talking out of your hat. Luxembourg benefits from a...

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TheSpaniard

2,356 Posts.

449

07/03/23

01:06

Post #: 66635737
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Originally posted by moorookamick: ↑

PS:

IMO in order to judge how Aus is doing globally, we should compare/
contrast Aus with the top 5 global economies in relation to nominal wage,
GDP/Capita Nominal and PPP.etc etc

For example why has Luxembourg $131,000 USD/Capita and it is the
world's second biggest producer of steel despite its steel workers being highly paid , highly unionised
and it has to import its Iron Ore & Coking Coal? Its biggest steel producer is ArcelorMittal.

We are the biggest producers of seabourne Iron Ore and Coking Coals yet we cant seem
to get our act together and compete with a backwater such as Luxenbourg....eh?

Clue: Luxembourg plans its economy but we dont....We follow the market which is dominated by Multinationals
and we are riddled with negativity....IMO.

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You are talking out of your hat. Luxembourg benefits from a ‘light touch’ economy, which is the exact opposite of what Labor stands for.
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