Whither manufacturing? Or ‘Wither manufacturing’ is not just whimsical. It is a bad fact. In the recent two decades, manufacturing has declined to a 4% contribution to GDP from 13% and from double that historically. Manufacturing has actually declined, e.g. steel and autos, while other sectors have grown e.g. tourism, transport, and finance. Their growth […]
Government Policy: Long-term
Slow average real growth of 2% pa long-term, though accepted by government authorities pre-virus, is not acceptable. The aim should be at least 3.5%pa. It is achievable despite possible recession. First, it must be recognised that there may be another virus pandemic in the next 10 years. China has had three virus crises so far […]
Government Policy: Medium-term
Strong government support will have to continue in the next four years. In the short-term it will succeed during the virus, but it is not for a bridge over a chasm to viral recovery. It is a recession or possibly a depression sized gulf to renewed growth. New thinking is necessary. People who previously argued […]
Government Policy: Short-term
The sudden coronavirus pandemic is causing fear, panic and chaos around the world and in Australia. It is the worst for a century. Government here has rapidly and rightly put aside everything but fighting the virus (covid-19) and supporting the community, business and the economy. It has been distracted from other serious matters such as […]