In a world where rival superpowers the United States and China are spending many trillions of dollars to win the new digital industrial revolution, Australia’s vital economic statistics and low ambition presents more Banana Republic than a serious and resilient middleweight player.
At the beginning of the next quarter of this tech-led and disrupted 21st century, Australia is the least self-sufficient economy in the developed world with the lowest share of manufacturing – around 5.8 per cent – of any OECD country.
Add to that our often lamented third-world level economic complexity ranking and our low business dynamism.
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