good opportunity to buy soon, page-8

You will find that the output per worker from the philippines and other such countries is very low. From experience I know in West Africa that it takes about 10 locals to produce the same output as an expat. Thing is, you pay the expat around 150kpa compared to 10,000 or less for the local. So it ends up better to hire the locals. It also creates employment and gives skills to the community which is also a bonus. You'll find that MML has a huge workforce because of this factor, but pays them very low compared to the 'Australian standard'. Mind you the wages are well above the average in these undeveloped countries.

All that being said, Australia's costs of doing business is basically a global joke. Not surprised projects are being mothballed. We all got too greedy thinking the fat from mining would continue to grow.