“Never let a good crisis go to waste”, as Winston Churchill famously stated and helped reshape a country recovering from war into a long-lasting competitive democracy. Many crisis stars are now aligning, and we have perhaps a once in a generation chance to make Australia great again, building widespread wealth if we grab the opportunities.
Labour & skills shortages and exponential shipping and supply chain cost increases are fuelling an as yet largely unrecognised rise in inflation, fuelled by negative real interest rates (that’s right, you are actually losing money by leaving it in the bank). The environment has actually rarely been better for people who want to make money in the future. I’m not talking about flipping houses to each other by further inflating the housing bubble whilst jacking up debt levels, but the opportunities that abound with starting or growing businesses, even in sectors where we previously lacked global competitiveness.
In a fast changing world, many businesses trialled working from home last year, and the long term proportion of people doing this in the future is expected to be 2-3 times greater than prior to Covid19.
So now, many of the metrics are in the “right” position to benefit the entrepreneurial spirit to capitalise on these opportunities to build a sustainable China by making things here. We need to ensure that irrespective of what happens in the rest of the world, we can produce everything we need to continue as a nation. Smaller nations such as Sweden and Israel are capable of self-sufficiency, but it took decades to establish. Note that neither of those nations are particularly poor and are competitive in many sectors including manufacturing.
Wendy
President&CEO
Post time: Jan-07-2022