There's only poor excuses from Australia, for not converting mining profits into becoming world leaders in telecommunications and solar technology/IP and pharmaceuticals.
I suppose Australia has de-industrialised because we could. We have commodity exports to pay our way in the world, and there are many reasons why we have a competitive advantage exporting rocks and dirt, natural advantages that just can't be copied by others. Who wants dirty industrial areas and factories? Who wants to work in them? Not me. So we are slowly building houses and shops and coffee places on top of where the factories used to be.
In contrast, the Poms de-industialised but had no right to. They'd run out of coal, and they have not much oil left and they have to import food to feed themselves. The Poms had no chance of succeeding, unlike us, and now are paying the price.
http://www.businessspectator.com.au...ndustry-pd20100330-423BK?OpenDocument&src=kgb
........"Suddenly the British realise that it was perhaps a tad premature to wave goodbye to the old economy that actually produced things other than hot air. The same circles that used to feel smug vis-à-vis manufacturing reptiles like Japan and Germany are now debating how to develop a new industrial base in Britain. Given the sorry state of Britain’s secondary sector, this is much easier said than done. After an era of de-industrialisation, there is little left on which a revival of British manufacturing could be built".......
By keeping our secondary industries going, we would be competing against people who can't fail. People like the Japanese. They have no commodities, import 60% of their food. 130 million people living in an area half that of NSW. They have no other choice than to make manufacturing work or else they go hungry. An aggresive Japan went to war to get what it needed, and that didn't work. A placid defeated Japan then set to work building stuff, and now trades for what it needs, with us.
Competing with Japan would be like a pet Labrador fighting with a wounded dingo. Australia is the pet labrador and Japan the wounded dingo. We would never win because we don't have to but they do.
If we can import a big LCD TV for $1000 bucks, but to make one here would cost $10,000, we are still better off importing as the consumer has $9000 to spend elsewhere.
See ya's.
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