What happened to the mining boom?

Weasil007 said:
Ok...discount the developed countries accepted rate of 3-1 or 6-1 and just work on the lower figure of 13-1. It doesn't matter what you compare it to..if the population cant afford to buy the property if won't sell. Wouldn't the gov there be better to build lower cost housing to accommodate these people at lower ratios of affordability ? Built houses of lower quality to equate with lower levels of income. If they currently live in a standard of housing that is below average (your assumption) why keep cranking out property people can't afford to buy. This just further feeds a housing bubble ;)

Yeah it's real odd..to the point we are now seeing the effects of the odd way they went about it. Read that empty housing and un-used infrastructure on the back of declining GDP growth. The point is this housing and infrastructure is now built and in place. No further benefit here. With declining GDP growth this model is failing and was unsustainable from the start IMO..


We could only dream of over building of infrastructure in AUS ;) and I agree the recent stimulus methods here have been disastrous :(
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You are right there is indeed a bubble in china and the gov is taking measure to contain it... but i agree with the PM - the focus should be towards asia as it is best for someone to able to speak and read chinese news or have some understanding about what goes on about there to make a better educated comment. First - i would say the low end workers couldn't even give a rat's about property. They're more concerned about getting their pay and saving it or sending it back to their families.

The chinese communist regime has also made it harder for the upper tier clasess to buy property where 1st tier cities like beijing and shanghai do not allow people to buy their 2nd property with a stable percentage of deposits thus prompting many rich chinese to come over to other countries like australia to buy property - i suppose you haven't read about the story in local papers and forums whereby some chinese dude walked down toorak and saw a house, knocked on the door and asked to purchase the house and wrote a cheque - which was accepted on the spot. i personally know my friend came here with AUD10 million and bought land site, house, shoplots in one hit in a span of 3-4 weeks in victoria.

Honestly the cost of a building there say what might be 180K house to build in australia would basically cost only 20% of that to build there due to low income for labour and the cost of materials. So it isn't like they're really that urgent to offload as oppose to some tower in gold coast. The thing is in china - things happen in large scale. what would take in terms of time to build 1 tower would be 10 towers in china.
The culture of certain asian countries is a very work mentallity so they will pump the hours say maybe 12 hour shifts daily as oppose to hour standard 8 hour work time.

Although china has slowed it has boomed too much in the past but i feel China's growth and continued growth i say would be more concentrated on it's manufacturing as wide range of products are produced in china like nike shoes, bags, clothing, equipment etc. where do you think your iphones or galaxies are made ? in the USA? righttt...Importing a full set double glazed certified to AS standards windows cost me 2.5K landed with tax and GST as oppose to paying 10-12K here. So that is what the rest of the world has to deal with the competitiveness of the chinese.

Australia is declining in terms of services etc even newspaper articles and IT support are being shifted to india. in korea - their electronics are booming with samsung requiring more and more components to be produced in china.

i got a friend who is now exporting containers loads 3-4 each month to the middle east for car spare parts to the middle east from guangzhou as there is growing market in work vehicles produced in china as well as refrigerators and whitegoods

there are issues in terms of the gap of wealth btw the upper and lower class but hey that's the internal affairs and the politics of how it is done over there. In the chinese speaking world making money and putting food on the table is more important than having a house as oppose to australia who fork out all their income to have one. So understanding the culture would be a first i suppose.,
 
Melbournian said:
The culture of certain asian countries is a very work mentallity so they will pump the hours say maybe 12 hour shifts daily as oppose to hour standard 8 hour work time.
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Not even that, here in Aus.

Have you ever taken a really close look at just how many full 8 hour days a tradie puts in here in Aus, over the course of a week?....

A tradie in Aus doing a 12 hour shift?..........bwahahahahaha
 
Agree.....that is why if we don't improve our productivity....our standard of living will decline.

Most Australians think Asian made products are inferior....given the work ethic of tradies...i think it is the other way around.....
 
sash said:
Agree.....that is why if we don't improve our productivity....our standard of living will decline.

Most Australians think Asian made products are inferior....given the work ethic of tradies...i think it is the other way around.....
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And don't forget it is your responsibility to cut absolutely every corner that you can.

Productivity comes form the work ethic - or lack of.

The other aspect of the work mentality is the assumption (of workers) that it's OK to take a bit of equipment/stock/stationary or whatever here and there if you are working for large companies (and worse; small companies).

"They won't notice. besides; they can afford it!"

and so on.
 
When I used to work in medicine it was very common for doctors to pinch pharmaceuticals for home use. Our mentor told us it was fine to do this and compared it to a mechanic pinching a few nuts and bolts from work.
 
jaK said:
When I used to work in medicine it was very common for doctors to pinch pharmaceuticals for home use. Our mentor told us it was fine to do this and compared it to a mechanic pinching a few nuts and bolts from work.
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I found the back row of spark plugs missing out of a tray of 100 not long ago.

Now, the normal thing to do would be to take what you need from the front - and most were, yet there was this row missing which - due to it's location on the shelf - would not be easily noticed from standing in front of the tray.

hmmmmm
 
:eek: ... still trying to get the the box of staples I - er- acquired from work 13 years ago.

However, to compare, one also has to look at the health and safety of these other countries. Granted the OH&S goes overboard in this country but we don't really like killing off and maiming our workers more than we have to.
 
jaK said:
When I used to work in medicine it was very common for doctors to pinch pharmaceuticals for home use. Our mentor told us it was fine to do this and compared it to a mechanic pinching a few nuts and bolts from work.
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Hopefully not S4's or S8's :confused:
 
BayView said:
I found the back row of spark plugs missing out of a tray of 100 not long ago.

Now, the normal thing to do would be to take what you need from the front - and most were, yet there was this row missing which - due to it's location on the shelf - would not be easily noticed from standing in front of the tray.

hmmmmm
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Hmmm sounds like someone in the workplace has a spark plug fetish.
What does a box of 100 plugs sell for?
 
Melbournian said:
The culture of certain asian countries is a very work mentallity so they will pump the hours say maybe 12 hour shifts daily as oppose to our standard 8 hour work time.
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If you're talking about our building industry; 7.5 hours, and good luck if you can get anyone to be even 70% productive on average over a year when they turn up..
 
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