That aside Passive, do you agree with the notion that a spree of housebuilding and trading overpriced housing stock with one another is Australia's way to economic prosperity?
To me, if this is the 'Asian Century' Gillard & Swan are preaching about Australia needs to become an innovation nation. For Australia to benefit the most we should become the R&D Powerhouse of Asia, they have the manufacturing base to turn that research into a reality, our costs and dollar is simply to high to compete in manufacturing anymore. If we can export R&D to Asia instead of Europe & America who currently provide the majority of the service I believe that this could become a significant sector of our economy if we planted the seeds for it now.
We also need to be strengthen our position as an education providor to export these services to the region.
Mining should move to compliment a primarily service driven economy in Australia in the coming decades.
