Singapore has managed to outgun us in GDP/Capita withno natural...

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moorookamick

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16/08/22

00:19

Post #: 63130094
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Originally posted by moorookamick: ↑

There is a trade war happening with China now in the form of
China's crippling import duties on our :
-Coal
-Meat
-Cotton
-Wool
-Barley
-Wheat
-Timber
-Copper
-Sugar
-Wine.

From the GFC to 2020, China had been the principal price driver for these exports.
The Ukraine War has temporarily lifted the prices for our Coal, Meat, Barley & Wheat but once
the global market adjusts , these prices will drop again, IMO.

We have made our decision ("prompted" by the USA) to adopt a political hostile attitude
towards China without an economic plan to deal with China's subsequent trade sanctions
and as such we are now at the mercy of China going
forward. There is a Chinese saying "kill one to save 100" and we seem to be the 1 China is killing
even though many RWNJs on these threads are in a state of denial/or hoping that a 3rd World India will bale us out!

So to get back to political leadership.
IMO we need political leaders who understand global markets
and can devise long term economic plans for Aus that considers
our strengths & weaknesses, positions Aus to diversify trade away
from China by supplying products and services that are needed globally,
rather than having foreign owned corporations digging it up & shipping it out
in cape sized ships with the minimum of Aus added value and up to 90%
of profits going overseas.

Singapore has done that without any natural resources!

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Singapore has managed to outgun us in GDP/Capita with
no natural resources in 60 years and with only 3 Prime Ministers !

This is what I mean by good political leadership and good economic planning.
We have had 3 Prime Ministers in 4 years!

We leave our long term economic planning to big businesses (Multinationals)
and their long term economic plans are "Commercial In Confidence)
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