this post was submitted on 06 Aug 2025
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We rank amongst the world's richest nations when it comes to personal wealth but, in terms of our economy and particularly its complexity, we sit amongst the world's poorest.

It's a situation that is progressively getting worse.

At just 5.1 per cent of GDP, we have the lowest level of manufacturing of all 37 nations in the OECD.

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[–] A1kmm@lemmy.amxl.com 5 points 4 days ago

As long as these become state-owned enterprises, and aren't selling at a loss and subsidising private interests, I think this is a good thing.

If overseas manufacturing is undercutting for one of these reasons, I think it is reasonable to be protectionist about it (i.e. apply tariffs):

  • Laxer environmental regulations overseas.
  • Less stringent safety regulations.
  • Fewer employee rights (more casualisation, lower wages).