My concern is that the current trade debacle will accelerate China's drive to source IO elsewhere and, lets face it, China has been the price driver of our exports since the GFC.
IMO if we want to continue to continue supporting the Chinese regime with unfettered supply of IO, then we should have a plan B so that we use the profits from IO to China proof our economy and National Security going forward. IMO its a bit of an economic tragedy to see $100s of billions going overseas annually to foreign owners of our resources and big businesses when we are starved of capital (both Government...look at the Trillion debt and private enterprise) Just go into the local bank for a business loan and all they want to do if offer a home/real estate loan! Not what one would call very nation building despite the fact that we allow them to effectively print money by issuing credit !
IMO we need good economic planners (not self professed "good Money managers" who have trashed the till with nothing long term to show for it except the doubtful kudos of keeping the economy out of a technical recession. The $210 Billion handouts have very little to show for it except extra personal consumption buying Chinese imports and cars from Japan, Korea, Thailand and Europe which ironically are registered as a positive in the GDP figures where in actual fact they are the GDP of elsewhere.
