Australia must re-introduce some level of regulatory control over the international corporate traders who dominate our market place. THERE IS NO ALTERNATIVE.
The removal of tariffs and import controls on a global scale during the 1970s enabled the captains of international trade to exploit the comparative advantage of low cost labour in poor countries. The large internal cost differentials existing between the wealthy and poor countries has enabled international corporate traders to buy cheap in poor countries and sell high in richer countries, thereby extracting huge profits. This may be the single most important factor affecting global economic health.

This situation has locked poor countries into a cycle of continuing slavery and poverty because the wage levels preclude increased spending power and without spending power their economy and their markets remain stagnant.

In the wealthy countries the import of cheaper product has undermined local production and set in motion a process of de-industrialisation. Un-employment, under-employment and an employment shift to the service sector are all a result of de-industrialisation. This in turn results in a shrinking tax base and a heavy social security liability for the governments and people concerned. This tax on the national wealth also diminishes the spending power of the people and has the same stagnating effect on the economy and the markets of the wealthy countries as those of the poor countries. In the current economic climate the poor countries stay poor, the richer countries are being strangled and the multi-national corporations continue to exploit resources and labour and to siphon off huge monetary wealth. Free trade is a global failure; what we now have is huge monopolies controlling global trade and government decision making.
Den 71

I don't think any of us have clear ideas on the way to organise our
industry.
Anyone who does is almost certainly wrong.
My own opinion formed and reinforced by a few books I have read are
that there will be a wind down in globalisation and all countries will
turn inward for their needs.

Globalisation will be a victim of increased energy costs and the
increased costs of the inputs to industry.
It will not wind down evenly, but some will go back to a simpler lifestyle earlier.
Everything will become local. If you want a new table & chairs you
won't go Harvey Normans, you will go to a local furniture maker.
Travel as we know it will end and be more like it was near the end
of the 19th century.

The real problem will be how we will handle the changes and the
removal of well worn industrial and business practises.
Education will be come more practical and expand the study more down
to earth subjects such as metallurgy rather than marketing.

This whole process has already started as can be seen in the state of
government finances, but just when it will become undenialable is very
hard to tell. It will depend on how much oil & gas they can squeeze
out of the planet and also on some miracle energy process arriving.

The one big worry is the system theory of complex systems collapse.
This tells us that just a few key system failures could cause a catastrophic collapse

Countries like Australia could depend on Solar, wave and tidal energy to meet our energy needs in the future

JOSEPHus/quote..<<..Countries like Australia could depend on Solar, wave and tidal energy to meet our energy needs in the future>>

there is no FUTURE..as you joseph must know
this far and no further..the end time will be here before the gas runs out.

thing is joseph..we near destroyed the world..as it is/just getting here..but the next stage..rebuilding that we near destroyed creating ..needs more commerce..more industry in rebuilding..THAT WE JUST FINISHED BUILDING

MATE..you know the big poleshift is cOMMING
THIS TIME WILL BE IN DARKNESS..total darkness..VIA THE DUSTS AND VOLCANOES SPEWING DUST INTO THE AIR

THE TIDES WILL GO NUTS..destroying..the power machines[these things beak all the time..the wind will be too strong..for the wind machines[oh and all that dust..stops the sun from shuining on ya solar cells

AND THE ONLY POWER WILL BE FROM WHAT WE ALLREADY BEGAN shutting down
nukes going..coal going ..thus the two thirds die..and were well on the way..unless the end times are shorted.[THIS URGE TO DESTROY REBUILD..ISNT GOING TO BE ALLOWED TO HAPPEN.,,.YET Again

but THEN AGAIN
THIS IS SATANS REALM
AND HE CAN DO as he likes with his own
now are the truely evil ones of a number near 144,000
or those whO BELIEVE THE WARMING WARNING IS A SCAM..[WE ARE MORE LIKE 2 BILLION../its not uS WHO GO.

Bazz, I hope you are right about peak oil. I don't think you are, but I can still hope. I would even give up my beloved old sports car for such a blessing.

About the only thing that can get Oz back on a reasonable track would be the end of globalism. That is not going to happen while international freight transport is so cheap.

With great fear in 1962, I watched my new Morgan +4 being slung out of the hold of the ship from the UK, onto the wharf in Sydney. It took about 8 men something like 20 minutes. They spent 3 days unloading that little 10,000 tonner, it must have cost a fortune. To day 40,000 ton roll on roll off ship unloads hundreds of cars in a day. It was not just imposed import duty that protected our manufacturing.

Freight costs that protected much of our small industry are no longer of much effect. If fuel becomes expensive enough, we might have a chance.

Yep the sight of clipper ships carrying international trade once again will signal our return to manufacturing our own requirements.

OUG our low paid workers are on 20 bucks an hour, (cost to employer) so, how mush do you propoe we pay these high skilled workers, asuming we can find them first.

I am afraid we have cooked our goose so as to say so far as us manufacturing anything that can sustain our nation.

Our quest for ever cheaper goods has come at a price, we pushed for it, now we have to accept it.