Australia is rich, dumb and getting dumber

Yeah, that place out 'there'. Anything not really Cambodia related should go here.
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clutchcargo
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Australia is rich, dumb and getting dumber

Post by clutchcargo »

Oh dear! :shock: Didn't aussies ride on the sheep's back a long time ago and now..iron ore, coal and gas

Bangladesh, Cuba, Iran, Mali and Turkmenistan share an unexpected connection to Australia, and it isn't membership of a tourist destination hot list.

All are among the economies that are so lacking in complexity, and have such limited natural opportunities to develop new products, that Harvard University recommends they adopt industrial policy straight out of the post-colonial developing world: the "strategic bets" approach.

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The enormous wealth generated by iron ore, coal, oil and gas masks, and probably contributes to, an economy that has failed to develop the industries needed to sustain its position among the top ranks of the developed world.

Put simply, Australia is rich and dumb, and getting dumber.

Full story: https://www.afr.com/policy/economy/aust ... N07y7zHir8
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Re: Australia is rich, dumb and getting dumber

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Duncan
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Re: Australia is rich, dumb and getting dumber

Post by Duncan »

clutchcargo wrote: Wed Oct 09, 2019 8:00 am Oh dear! :shock: Didn't aussies ride on the sheep's back a long time ago and now..iron ore, coal and gas

Bangladesh, Cuba, Iran, Mali and Turkmenistan share an unexpected connection to Australia, and it isn't membership of a tourist destination hot list.

All are among the economies that are so lacking in complexity, and have such limited natural opportunities to develop new products, that Harvard University recommends they adopt industrial policy straight out of the post-colonial developing world: the "strategic bets" approach.


The enormous wealth generated by iron ore, coal, oil and gas masks, and probably contributes to, an economy that has failed to develop the industries needed to sustain its position among the top ranks of the developed world.

Put simply, Australia is rich and dumb, and getting dumber.

Well that confirms my future travel plans, I'm going back there to help raise the IQ level of the country although I may have to get some help from my Cussie bro's from across the ditch to help out.
Cambodia,,,, Don't fall in love with her.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
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clutchcargo
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Re: Australia is rich, dumb and getting dumber

Post by clutchcargo »

Ironic and awkward video of the governor of the Reserve bank buying a bag of bananas with the new $20 note.. :facepalm:


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Re: Australia is rich, dumb and getting dumber

Post by hiway5 »

A leader well known for his bluntness, Singapore's founding prime minister Lee Kuan Yew issued a warning in 1980 that Australia was in danger of becoming the "white trash" of Asia.
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clutchcargo
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Re: Australia is rich, dumb and getting dumber

Post by clutchcargo »

Australia’s net export profile (Source: Harvard Growth Lab)

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