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Does Australia have a plan B? : Comments
By Chris Lewis, published 25/10/2010High levels of household debt in a world of competitive currency devaluations means the future isn't assured for Australia
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The attitude that Australian products are "more expensive and often shoddy" is the attitude of so many public servants, and is just about universal throughout the education system. However they seem to consider the taxpayer's dollar is good, and in the case of teachers, they just can't get enough of that taxpayer dollar.
"ABARE-BRS forecasts export earnings for Australian mineral and energy commodities will increase by 29.9 per cent to around $179.9 billion in 2010–11, compared with $138.5 billion in 2009–10.
ABARE-BRS forecasts that export earnings for farm commodities will be around $31.4 billion in 2010–11, slightly up from $28.5 billion in 2009–10."
Quite a ratio, and it seems to me we have become highly dependent on what we can dig out of the ground, and now also a humble servent to China.