Australia is losing its competitiveness. More jobs are gone each...

Australia is losing its competitiveness. More jobs are gone each day. Just recently more refineries are closing as Asian refineries are deemed more cost effective. Wait till the unemployment figures come out.. they usually lag.



Unfortunately Australia has relied too heavily on china and the mining boom. It has not capitalized on it like Norway which established a strong sovereign wealth fund nor taken steps to diversify and nurture other sectors.

Do i think Australia's economy will crash? No (i really hope not) but i think a correction is coming as China shifts towards consumption. Rates will remain low and i don't think we will see anything above 4% for a long time.