The 2020s was once described by former Australian prime minister Kevin Rudd as a “decade of living dangerously”. He was talking about the bilateral tensions between the U.S. and China. I would suggest that it’s a dangerous decade in large part because the collective west, led by the neocon political elite in Washington, are experiencing Continue reading »
Economy
I regard the changes made to the carve-up of GST revenues among the states and territories by the Morrison Government in 2019, with the support of the then Labor Opposition, and continued (indeed extended) by the Albanese Government, as possibly the worst Australian public policy decision of the 21st century thus far. But very few Continue reading »
International Monetary Fund (IMF) managing director, Kristalina Georgieva, was recently quoted in the Guardian (Tuesday 16/1/24) saying that “in most scenarios artificial intelligence (AI) would probably worsen overall inequality across the global economy and could stoke social tensions without political intervention”. Australia’s vulnerability to such AI-induced inequality would appear to be high, while our chances Continue reading »
Four years on from leaving the EU, the Department for Business and Trade's overview of Brexit tells a powerful story - of fiction
Let’s not reject forty years of cooperation and exchange with China. Australia has greatly benefitted from trade, investment, cultural exchange and collaboration over these decades. Now, as the United States and Europe threaten to raise tariffs, erect barriers to exchanges and prioritise security concerns, it is time to remember when we espoused multilateralism and openness. Continue reading »
The Albanese Government was right to change its previous position on the already legislated Stage 3 tax cuts and to seek a fairer and more equitable taxation system for all Australians. However, its proposed changes fail to deal sufficiently with the increasing tax bites into the incomes of low paid working Australians. The focus on Continue reading »
Notwithstanding calls to divert supply lines from China this is not happening except for America. An Oxford Economics research report funded by the Hinrich Foundation made the following surprising discoveries: Asia’s supply chain trade is growing and diversifying, even as the US and China decouple; Decoupling remains largely a US-China phenomenon, and to a lesser Continue reading »
Regularly, Western media claims that China’s run is near an end and that collapse is just around the corner. So constant has this become, it is like a broken gramophone record. Recently predictions of this collapse have been couched around the indebtedness of some major players in the Chinese property market. The ‘inevitable collapse’, however, Continue reading »
Anyone who thinks so is just plain dumb. It has obviously been stunningly successful. It has produced huge increases in wealth, for instance in the last few years the three richest people in Australia doubled their wealth. It has worked like a dream. The trouble is that it does not and is not designed to Continue reading »
The Productivity Commission has released a damning report on Australia’s worsening public and community housing disaster. Needs have increased, supply has not and the various announced policies stretching out in the distance aren’t enough to make a significant difference. However bad you think the Australian public and community housing crisis is, it worsened over the Continue reading »