Manufacturing in Australia
Australian manufacturing is in serious decline.
Australia’s Current account deficit is currently running at approximately 7% of GDP and this has been in serious deficit for 44 consecutive months. Our net foreign liabilities, all private debt, is at $450Bn. This is the highest percentage of GDP ever. The largest gap in our balance of trade is in manufactured goods.
There are solutions. ManSA is dedicated to finding ways of improving our performances. We have formed a working party to make the government aware that this situation is leading towards a country that will hand a massive loss of control of assets and IP and wealth to overseas countries and companies.
Economists believe that this is not a problem?
