Economy
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The Biden administration’s absurd justification for its Yemen war
On Monday the US launched its eighth wave of airstrikes in its new war against Yemeni forces, which it has now formally titled “Operation Poseidon Archer”. The strikes are aimed at breaking a Red Sea shipping blockade which the de facto authorities in Yemen have implemented to pressure Israel and its allies into ceasing the Continue reading »
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Is China an economic threat?
America insists on treating China as an economic threat, but the reality is that China’s economic advancement has benefited us all. Instead, the stagnation of wages and manufacturing job losses experienced by Trump supporters in the US largely reflects the impact of technological change. Continue reading »
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As earth records hottest year, Coalition digs in against climate action and renewables
The science is in. The European Union’s Copernicus Climate Change Service has overnight confirmed that 2023 was the earth’s warmest year on record: 0.16°C warmer than the previous record year (2016); 0.6°C warmer than the 1991-2020 average; 1.48°C warmer than the pre-industrial period. Continue reading »
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Push to get superannuation invested in defence is despicable
In a recent speech, the Federal Treasurer hastily bundled together three things that he felt superannuation funds ought to invest in: renewable energy, defence and housing. It was a classic ‘sandwich’ communication: bracket the unpleasant item between two that sound good. Continue reading »
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Can China escape a deflationary trap? Economic outlook 2024
Last year was the most widely anticipated recession in history because tight monetary policy, slower government spending and higher oil prices normally spell doom. Yet total economic output (GDP) in both America and Australia kept growing in real (after inflation) terms. So, what can we expect in 2024? Will economists get it right this year Continue reading »
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Summer: heat, cicadas and rising fees in private schools
Private school fee rises are as intrinsic to an Australian summer as the screech of cicadas. And instead of relaxing in the holiday heat, I find myself plagued with questions about whether or how to respond to the former. Do these fee rises even matter? Continue reading »
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The remarkable global impact of the Chinese car industry: Trade beats war every time
Around 25 years ago, wise commentators said China may, in due course, be able to produce acceptable basic, manufactured white-goods but making motor cars that would sell globally was not conceivable. Far too many complex inputs went into making a modern family sedan compared to a refrigerator. As for landing a rover on the Moon Continue reading »
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We need to shift from ‘Indo-Pacific’ back to ‘Asia-Pacific’
The difference between “Asia-Pacific” and “Indo-Pacific” is not just geographical. These are entirely different notions with entirely different economic and geopolitical implications. Continue reading »
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We spend billions on ‘wellness’ crap. Why?
‘Alternative’ medicines and therapies comprise the biggest scam in the country. But if you think that industry is going to be cleaned up … you’re joking. Continue reading »
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Economic outlook – will 2024 be a hard, soft or no landing?
On the Australian economy, bulls and bears cannot both be right. 2024 will decide the fate of both economies and markets, a hard, soft or no landing. Continue reading »
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Do political donations win government tenders for the Big Four?
A recent submission to a Senate inquiry by the Centre for Public Integrity claimed that in the decade to 2023 companies making political donations “were 2.49 times more likely to win procurement contracts than non-donors”, and that the value of contracts won by donor companies was on average 4.4 times the value of contracts won Continue reading »
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Regulatory certainty and entrepreneurship: Unlocking Australia-China climate collaboration
Entrepreneurs occupy a pivotal role in bridging the gap between Australia and China, especially when it comes to climate collaboration. Continue reading »
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AUKUS submarine revelations compel a rethink
US Congressional report argues that Australia’s acquisition of nuclear submarines would actually undercut deterrence of China by depleting the US submarine fleet. With the promise of nuclear submarines becoming ever distant, it may be time to reconsider other options. Continue reading »
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Unlocking Pakistan’s 5G potential: A call to action
In March 1995, Pakistan’s Ministry of Information and Broadcasting took a bold step by granting a 15-year license to M/s Pay TV to establish a wireless TV network. The intention was clear: to harness the potential of wireless technology for the nation’s development. Years later, we find ourselves at a crossroads, with the promise of Continue reading »
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A Bangladeshi workforce enslaved by greed and power
Millions of workers in the multi-billion-dollar garment industry are being exploited, activists say. Continue reading »
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COP-out: Why the petrostate-hosted climate talkfest will fail
After a succession of record-breaking months of record heat including 1.8°C in September, global warming for 2023 as a whole will likely tip 1.5°C, with 2024 even hotter as the effect of the building El Nino is felt more fully. Already hundreds of thousands have died and millions displaced, primarily in countries least responsible for Continue reading »
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The cost-of-living crisis: How should the Government respond?
Living standards have fallen recently. The Albanese Government has responded with targeted assistance, but the policy options to alleviate the damage for working families are limited, especially in the short run. However, one readily available policy option would be to reshape the Stage 3 tax cuts due to take effect next July. Continue reading »
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Has Labor abandoned workers?
The traditional parties of compassion – Labor in Australia, Labour in Britain, Liberals in Canada and the Democrats in the US – have come under attack from the left and the right for abandoning workers. Continue reading »
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Australia’s role in the bombing of Gaza
Being part of the global supply network that supplies parts for the Israeli F-35 jet fighters used over Gaza implicates Australia in their alleged war crimes. Continue reading »
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The price to Labor for supporting Israeli war crimes and apartheid
What rejoicing greeted the Federal Election result last year, when the corrupt and callous Coalition, under Scott Morrison, was swept from office. Surely now Australians would get political leadership whose priorities would align with their own. Instead, they’ve had to stand and watch as Australia’s federal government – a Labor government – has given unconditional Continue reading »
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The world needed the Xi-Biden meeting
Western media reports about China are of tensions and animosity, restrictions and sanctions, balloons and drugs. So, it’s easy to believe the China-US relationship has fallen apart. However, look beyond the headlines and political rhetoric, there is a different picture. Continue reading »
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America, why don’t you get your bloodied hands off Hong Kong
Weaponising human rights against the city and mainland China only becomes more farcical when the US and its close allies are busy violating them. Continue reading »
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Innovation policy advice should be more than an echo chamber
At a recent Innovation Forum, the Minister for Government Services, the Hon Bill Shorten, volunteered the observation that the Australian research and innovation community is in danger of becoming an “echo chamber”, if it wasn’t already. Continue reading »
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The RBA is a moribund institution – an incumbrance on the economy
For the last three decades the Reserve Bank of Australia has focused on just one economic goal – a rate of inflation between 2 and 3 per cent. It is a goal they have pursued relentlessly since 1993, regardless of how effective or fair it is. Last Tuesday they increased the cash rate yet again. Continue reading »
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Drugs and alcohol aren’t even half the problem
Australia’s penal colony culture has continued into the fabric of all our public administrations, but most particularly Health, Education, Community Services and Justice. Continue reading »
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Biden confirms he’s not the intellect he once was
Once again Biden confirms he’s not the intellect he once was. People will remember years ago when Biden was a smart, intelligent and incisive man. He was always easy to disagree with but never easy to dismiss. Now, there is a serious danger whenever he goes off-script. As he left a meeting with Xi Jinping, Continue reading »
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Hazards in the critical minerals strategy
Demand is exploding for materials used in clean technology and IT. Amid worries that China dominates supply of many of these, Australia is developing a $4 billion program to expand their mining and processing. In Washington, our PM and the President announced a joint “Compact” on critical minerals. There are hazards here, including possibly tying Continue reading »
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‘Job-ready Graduates scheme’ damaging Australian Higher Education
In January 2021, the Morrison government changed the way university fees are set with the Job-ready Graduates scheme. Continue reading »
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Biden forgets that the C in APEC stands for cooperation
There are 21 countries attending APEC and over 1,200 organisations from within those countries. Only one of the 21 countries, which happens to be the host, has a recent history of promoting de-coupling, or de-risking which is diametrically opposed to what APEC stands for; they seem to forget that the C means cooperation. Continue reading »
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Pivoting away from China’s manufacturing power threatens global supply chains
While the US and its allies prioritise reducing supply chain risks, reshuffling away from China, repercussions from decoupling or de-risking might pose greater concerns than the risks themselves. Such actions could bifurcate the global economy, leading to fragmented supply chains and divergent technology standards. This could hinder global economic recovery, dampen investment flows, and impede Continue reading »