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Australia is a big exporter of raw materials to make steel, mainly to China. Why not build some big integrated steel mills there, and export finished steel instead? I think at one time labor costs would have been an issue, but there's a lot less direct labor in steel nowadays.
Of course, once your making finished steel, it's not a big leap to start making stuff out of the steel (appliances, cars, etc.) Manufacturing in Oz isn't that big a sector. Maybe some effort should be put into building it up?
Australia is a big exporter of raw materials to make steel, mainly to China. Why not build some big integrated steel mills there, and export finished steel instead? I think at one time labor costs would have been an issue, but there's a lot less direct labor in steel nowadays.
Of course, once your making finished steel, it's not a big leap to start making stuff out of the steel (appliances, cars, etc.) Manufacturing in Oz isn't that big a sector. Maybe some effort should be put into building it up?
I suppose you do not know a lot about Australian history but there was an intense effort after World War 2 to do exactly as you suggest. It is only a couple of years ago that the car manufacturing sector was fairly much dismantled, because it is uneconomic with global production.
It is difficult for a country with 25 million people to compete with countries that not only have much larger workforces but have much cheaper labour.
The cost of transport is high, probably cheaper and more profitable to export iron ore from WA to China than to send it to Wollongong to Bluescope.
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