The Sydney Morning Herald’s Ross Gittens explains why the mining boom is pushing Australia forward, and why manufacturing is being left behind.
He says "what governments shouldn’t do is increase protection and other assistance to manufacturing industry itself in an attempt to stave off change. It needs to adjust to the reality of a significantly changed world economy.
"Efforts to help manufacturing resist change can come only at the expense of all other industries. There are no free lunches in industry assistance."
Instead he calls for the nation and the government to focus on ways to harness the mining boom and Australia’s unique position as a main primary materials supplier to the massive manufacturing bases in Asia.
To read the full editorial, click here.