Personally, I think China is avoiding what happened to the USA. The USA did not diversify their suppliers and are suffering from the consequences. No business should depend on a single supplier for most of their supplies.
The primary problem Australia faces is a strong currency. For manufacturing and IT industries to develop, the AUD must be stable. If an embargo can weaken the AUD, it is a good embargo.
20 years from today, almost all manufacturing will be done by robots, even services can be done by robots. But robots can't produce iron ore and uranium, nor can it create farmland out of wasteland.
Australia holds the final trump card. Look 20-30 years into the future.
Maybe 100-200 years in the future, we'll have Iondrive and warpdrives, and space mining will be economical, but that's for the future generation.
The primary problem Australia faces is a strong currency. For manufacturing and IT industries to develop, the AUD must be stable. If an embargo can weaken the AUD, it is a good embargo.
20 years from today, almost all manufacturing will be done by robots, even services can be done by robots. But robots can't produce iron ore and uranium, nor can it create farmland out of wasteland.
Australia holds the final trump card. Look 20-30 years into the future.
Maybe 100-200 years in the future, we'll have Iondrive and warpdrives, and space mining will be economical, but that's for the future generation.
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