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O/T: Economic Recovery After COVID-19

Dragon David

Bench
Messages
4,395
I know that this is mainly a rugby league forum but I thought I'd start a thread on the world's economy and how it will recover after the coronavirus is extinguished or controlled by vaccine.

It will be a critical worldwide topic as it affects all human life on this planet.

I must point out that I am not an economist or financial expert so this thread is open for discussion.

It has been reported that "sharing ideas internationally will help scientists develop and roll out Covid-19 treatments and vaccines more quickly. In the economy, too, if countries work together, all of us will see a much faster recovery than if each of us acts alone".

What are your thoughts?
 

Dragon David

Bench
Messages
4,395
I think we need to fire up the Aussie manufacturing industry again.

This isn’t the first, and won’t be the last, pandemic.
I am glad you mentioned this Muzby. I agree that the Aussie manufacturing industry needs to be re-introduced into our economy. More factories to employ a lot of people with the aid of computerised technology. The people need work to enable the economy to grow and for them to put bread on the table every night.

The other thing is - everyone should save for a rainy day ( a few dollars here and there if possible) just to help them get by when another pandemic comes along. Don't forget, our flu season starts in a few months so make sure you get your flu shots guys.
 

Forbes Creek Dragons

First Grade
Messages
5,078
A agree with the above statement about manufacturing, especially in regards to critical supplies. I also think the whole world needs to start looking more to India, Thailand and Indonesia more for manufacturing so as to not rely so much on China. They are playing a dangerous game at the moment and can’t really be trusted. I’m not a fan they have a 99 year lease on Darwin harbour either just quitely.
 

Dragon David

Bench
Messages
4,395
A agree with the above statement about manufacturing, especially in regards to critical supplies. I also think the whole world needs to start looking more to India, Thailand and Indonesia more for manufacturing so as to not rely so much on China. They are playing a dangerous game at the moment and can’t really be trusted. I’m not a fan they have a 99 year lease on Darwin harbour either just quitely.
When it is all said and done it will be a matter of all hands on deck (i had to make sure that deck did not have an 'i" instead of an "e"). Hehe!
 

Old Kogarah Boy 1

First Grade
Messages
5,415
A agree with the above statement about manufacturing, especially in regards to critical supplies. I also think the whole world needs to start looking more to India, Thailand and Indonesia more for manufacturing so as to not rely so much on China. They are playing a dangerous game at the moment and can’t really be trusted. I’m not a fan they have a 99 year lease on Darwin harbour either just quitely.

A lot of medicines are already made in India.
 

Forbes Creek Dragons

First Grade
Messages
5,078
A lot of medicines are already made in India.
Not just medicines though I mean everything. That and we could probably cut a lot of shit out of our lives we don’t need. China lied people died. It’s a good chance to reevaluate things a bit. I think it’s going to be at least a year possibly 2-3 before we can travel internationally again so it’s also a good chance to travel domestically and help out our local economy a bit.
 

Old Timer

Coach
Messages
14,832
Nice sentiments re Australian manufacturing but sadly not realistic in many cases.
Company profits and share holder dividends will dictate where most products are made especially those that fall into the "me too" category. Having dealt with many major entities for over 30 years in manufacturing I can assure you if they can buy it cheaper somewhere else on most occasions they will and arguments re offshore countries records on human rights, OH&S, child labour, sub human working conditions carry very little if any weight at all.
If you are not specialised and / or unique to ramp up manufacturing and win out against China, Taiwan, India and the like is incredibly difficult for any one company let alone on a grand scale across a lot of industries.
Some years ago many Australian manufacturers unfortunately went down the dividend and bonus route and dropped there % of reinvestment into plant & equipment and the $$$ required to reinvent themselves would be prohibitive in products where you are just one of many.
It was often touted that our labour costs were too high and the finger pointed at the unions by the conservative side of things but when you look at the facts the labour content was only a minor issue in the total equation.
There will be some anti China sentiment for a little while but it would be a false dawn to think that will last for long especially as China are now already ramping up to fill the holes left in the world supply chain as other countries remain locked down.
 

Warabrook saint

Juniors
Messages
1,799
A agree with the above statement about manufacturing, especially in regards to critical supplies. I also think the whole world needs to start looking more to India, Thailand and Indonesia more for manufacturing so as to not rely so much on China. They are playing a dangerous game at the moment and can’t really be trusted. I’m not a fan they have a 99 year lease on Darwin harbour either just quitely.
99 year lease on Newcastle harbour as well
 

Old Timer

Coach
Messages
14,832
99 year lease on Newcastle harbour as well
Not quite correct as revealed by this SMH article. Hastings at that time were a Melbourne bases firm with a Melbourne HO.

Port of Newcastle leased to Hastings in $1.75 billion deal
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Hastings Funds Management and a Chinese corporation, China Merchants, have won the auction for Port of Newcastle, paying a hefty $1.75 billion to secure a 98-year lease on the port.

“This momentous result exceeds all expectations,” said NSW Premier Mike Baird.

The NSW Government expected to reap around $1 billion for the port, and the final price of $1.75 billion, which represents a multiple of 27 times earnings, underscores continued strong demand for infrastructure assets.

Hastings and China Merchants, which owns Australian logistics group Loscam, were “equal partners” in the investment, the government said.

Some $340 million from the sale proceeds will be invested into Newcastle’s central business district, while the remaining $1.5 billion will be invested in NSW infrastructure.

As first reported by The Australian Financial Review's Street Talk on Monday, Hastings was one of five bidders believed to be preparing offers ahead of this week’s deadline.

The port of Newcastle is the world’s largest coal terminal and forecasting $69 million earnings before interest, tax, depreciation and amortisation in the 2013-14 financial year.

The port sale comes only twelve months after Baird agreed to the $5.1 billion privatisation of NSW’s two other ports at Botany and Kembla and follows a five-month bidding process


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Old Kogarah Boy 1

First Grade
Messages
5,415
Not just medicines though I mean everything. That and we could probably cut a lot of shit out of our lives we don’t need. China lied people died. It’s a good chance to reevaluate things a bit. I think it’s going to be at least a year possibly 2-3 before we can travel internationally again so it’s also a good chance to travel domestically and help out our local economy a bit.

My wife and l have always done everything we can to buy Australian and or if, from New Zealand.

We are happy to pay more if it’s made here in Oz, thus keeping Aussie’s in jobs, plus..... the quality is better.

China is getting found out and not before time.
 

Willow

Assistant Moderator
Messages
100,669
I think we need to fire up the Aussie manufacturing industry again.

This isn’t the first, and won’t be the last, pandemic.
In theory, locally manufactured goods will lead to higher prices. On the upside, more employment. Don't forget that local manufacturers are competing with a much lower paid workforce offshore. So exporting locally manufactured goods would be a big ask.

On the other hand, we could just blame China for everything. Seems to be something we're good at manufacturing in abundance and at a low cost too. If only it was worth exporting.
 

merahputih

Juniors
Messages
893
Any new manufacturing starts in Australia should initially focus on health products, especially personal protection gear along with anti viral research and technology. At one stage we were world leaders in solar panel technology but for some reason the Howard government pulled the rug from underneath it. The Holden, Ford and Mitsubishi ships, propped up by massive government handouts and plagued by poor marketing choices sailed long ago , never to return.
 

crocodile

Bench
Messages
3,225
This important thread would be better placed in the four corners section where it can be reached by more than just drag queen supporters.
 

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