Dear "Cant Bowl/Cant Bat" merchants on these threads,China is...

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    Dear "Cant Bowl/Cant Bat" merchants on these threads,

    China is playing a long game as evidenced by its 2 major economic programs: OBI & Made in China 2025

    At present we are economically like frogs being slowly brought to the boil blissfully thinking tat "she'll be right"

    China bailed us out of recession 2008-2012 and our politicians, up to Corvid, has been reminding us of Australia's
    grand achievement of staying out of recession for nearly 30 years as if they had engineered it. The truth of the matter
    is that we got there more by good look than good economic management.

    This time around, the game is different:
    -we are backing Trump in his quest to blame China for America's domestic economic woes rather than first admitting that
    Reganomics (neo-Liberalism with Yankee Characteristics) has been a failure and has led to the gutting of US manufacturing
    and was the root cause of the GFC
    -China bailed us out 2008-2012 but this time around they wont because of our souring of China/US diplomacy
    -in 2008-2009 Rudd had to hand out $22 billion to stave off recession and then there was minimal Comm, State & Muni debt.
    - This time around we have $1.1 Trillion of combined Governments' debt with the Morrison handouts likely to add anothe $300 billion with
    lots more to come after that in a shrinking economy.
    -In 2008-2012, apart from buying copious quantities of Iron ore, coking coal & thermal coal , the Chinese pumped-in $100s
    of billions in resource & infrastructure capital investment into Aus. This time around its diddly squat because we passed on OBI
    and scotched Huawei at America's beck. Consequently China is putting its lollies in the OBI & 3rd world countries to eventually replace
    Australia as a source of minerals & energy. That's their long play that we seem to be oblivious of.

    We should have learned from our dependance on Japan in the 1980s and the economic effect that Japan's economic implosion had on our economy which led to keating's "Recession We Had To Have"
    Instead of shoring up our economy through industrialisation then, we , like a good welfare addict, simply changed horses; first to Korea & now China
    and we had a lucky ride on both countries' industrialisation. Smartassed perhaps but definitely not smart! We simply have to do better than rely on
    other countries' successes.

    Trade wise we are now at a crossroads: do we follow America and resort to 19C merchantile tariffs regime or do we subscribe to world free trade.
    If the former we have to forget economic growth and tear up our existing FTAs; if the latter we simply have to get out there and compete industrially
    rather than relying an a boom/bust raw resource global market which is currently dominated by China. And besides, as Aussies, we only own about
    14% of our resources; the remainder is owned by foreign multinationals! That, IMO, needs addressing too.

    Amanda's proposed talkfest is like taking an aspirin for cancer, IMO, because at present our economy needs radical surgery and an industrial
    transplant.

    The question is do we have a " Lee Kuan Yew" to do it?
 
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