I can't understand how the unemployment level is not higher in Australia and our pay levels are not much lower - how can we compete with Asia ?
What are we manufacturing and how can we compete with Asia ?
Our mining industry doesn't employ many people, neither does our agricultural industry.
We are a nation of consumers and high wages - yet our unemployment is only 5% !
How ???
China, Vietnam etc.. are manufacturing and producing - doing something concrete other than consuming yet they are only paying their workers a pittance.
Why/how are our workers here paid so much - what is sustaining that and what is sustaining our low unemployment ?
Can someone explain it to me ?
The USA's real unemployment is above 16% according to many analysts - that's the no.1 nation in the world.
