There has been a change of Government in Australia today. The polls were right, the Labour Party had it in the bag. John Howard has resigned. Long live Kevin Rudd.
Australia has enjoyed an economic boom during Howard’s ten years in power. Personal wealth in Australia has grown higher relative to most of the rest of the countries in the world.
This boom has been largely driven demand from China and other countries for Australia’s raw materials, of which there are plenty.
Labour is entering power at a very uncertain time. The sub-prime crisis combined with disruption in the Middle East, changing global hierachies and the threat of environmental crisis makes for a pretty shitty few couple of years.
I wonder if the Liberals are happy that Labour will take the flak for what is about to happen, leading to their return in just three years time. It will provide more content for negative campaigns in the future.
The Australian manufacturing sector has deteriorated into nothing and the remaining industry – agriculture – is threatened by climate change, the country is in drought and is now subject to the rise and fall of two masters, the US and China.
Its election day and people have made their choice but…
How much influence and control does this country have over its own destiny? So many of the real influencers are macro external and the global nature of things means that Australia has no option but to play ball.
There is no place in the industrial complex for the sort of protectionist tendencies that were once associated with the Labour Party.
[youtube=http://www.youtube.com/watch?v=lQN_btzkg0U]
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