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> Examples? We have some of the most open markets in the world. We’re one of the only countries the US has a trade surplus with... I guess the obvious example
by Jedd 7y ago
> Examples? We have some of the most open markets in the world. We’re one of the only countries the US has a trade surplus with...
I guess the obvious example would be the car industry - mostly cars were just assembled in Australia in the most recent past, but previously there were some designed and built. Tariffs were applied to protect that industry (nominally the jobs associated with same) but despite the Australian car assembly sector basically being zero now, the tariffs still exist. It's almost like it's just a revenue generation scheme.
There's a long history of tariffs and duties within Australia [1] but none of those (to my knowledge) resulted in a thriving multi-national corporation (I'll exclude mining companies as they're primary industries, reliant on the lottery of resource availability rather than any particular commercial skill).
Perhaps Murdoch's News Limited, which undoubtedly obtained government support during its nascent era, but I'm not sure how comparable it is to the Samsung and Hyundais of the world (referring back to GP's claims).
[1] https://en.wikipedia.org/wiki/History_of_tariffs_in_Australia https://en.wikipedia.org/wiki/History_of_tariffs_in_Australi...
- shim__ 7y agoAustralia has it pretty hard be competitive exporting industrial goods since the supply chain is mostly overseas and the domestic market is small, which means most things will gehave to be exported again. All this results in high shipping costs and latency in addition to being a high wage country.