Can Australian Industries compete with China?
Jun 30 · · Uncategorised
The emphasis on buying Australian-made to stimulate the Australian economy and create jobs has never been so pronounced.
Data from Roy Morgan found that 93% of people are more likely to buy Australian made.
Do people’s preferences translate into actions?
From 2019-2020 Australia’s imports from China amounted to 83.4 billion dollars
Regrettably, this fact suggests Australians are not willing to pay more for Australian made.
Australia’s inability to compete with China based on cost is frequently accounted for Australia’s higher labour costs.
Whilst China is investing heavily in high-value add manufacturing, it is often the case that Australian manufacturers can effectively compete with China on cost through a robust automation system and you will be surprised by the significant return on investment.
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