We quite stupidly, allowed our fledgling manufacturing sector to migrate/close/wither on the vine. Assisted by the most asinine energy policy in our history!

And with a level of economic stupidity that needed to be seen to be believed, we just allowed this to happen as what couldn't be saved was sold off at bargain-basement prices as alleged asset sales to fund other projects, already obsolete as they were rolled out?

We as a service economy are at the greatest risk from any economic turndown. And we cannot b helped by this transition in China as many of our service providers will be devastated economically as their service export incomes are eaten away!

We could, if we were intelligently led, retransition back toward a manufacturing economy and value-adding all export commodities as a mandated legislated outcome.

Export licences could depend on compliance?

Even so, many of the things we could do are placed out of reach by the cost of coal-fired energy!

And if we would become a self-sufficient economy able to produce all we need internally and a must inside this decade!

We have no other choice than transition toward nuclear energy, namely, MSR thorium and the less than 3 cents PKWH this alone would confer!

Our response? A dictatorial PM pounded the table and trying to decide what banks can invest their funds in!

Banks that are no longer the property of the people are answerable to their shareholders and their customer base, have been something of a cash cow for governments in recent years! And were propped up by the taxpayer dollar during the GFC!

The explosive royal commission rocked them to their bootlaces and hs surely created many early retirements as this industry sort to clean up it act and a level of corruption that needed to be seen to be believed!

Even so, they cannot be directed by an elected dictator, where and how to invest! End of story! TBC.
Alan B.

Looks like the Chinese will eventually end up selling each other coffee and doughnuts like we do in the West.

Well who would have expected such an event. That the Chinese, after manufacturing made some of them rich beyond their wildest dreams, would then start purchasing services with their new wealth? Obviously with services now scurrying after the money, playing catch up, it is the fastest growing sector today.

Meanwhile we now have the most ridiculous statement ever on OLO by Alan. "many of the things we could do are placed out of reach by the cost of coal-fired energy".

Obviously when one becomes one eyed, it becomes impossible to see the facts.

Do we believe these statistics? Marxist countries produce all manner of statistics.