I wouldn't say it's quite that dark yet Tumby - more a shade of dark grey. There is some diversification in the Australian economy. Don't forget oil/gas which plays a big part - while oil prices are currently down they will recover. Beef with Agriculture is also a big exporter.
Exports of goods and services (% of GDP) in Australia was reported at 26.8 % (2023), China and Japan account for almiost 50% of our exports. USA is a measly 5%. I don't know why Australia kowtows to the USA - they are not our allies and they are not our business partner. Australia sulks about human rights in China, yeah well USA isn't looking too flash in that area at the moment. Australia needs to smooze up to the Asian nations - China, Indonesia, India.,Vietnam, Japan and Korea. China will be the world's largest economy and India will become the 2nd largest.
Our diversity will give us some resilience but we need to be cognisant that Education is diving. I still don't understand why we have 44 universities in this country!. The IT sector is stuck in 2nd gear. Need to focus on our Northern Neighbours.
As for Rabbits out of hat - hmm!!, I don't see Dutto being that rabbit and I agree that Albo is steering Australia to become the largest global welfare state.
Whatever happened to smart politicians??, we just don't have them anymore - Hawke, Keating, Howard, Costello, Beazely, etc. The intelligence level in our parliament has nose dived to being led by a group of yobbo's.
AR9 Price at posting:
6.6¢ Sentiment: Hold Disclosure: Held
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