Originally posted by Bigfella
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Our currency certainly would have been more conducive to local production. Just a side note though, the mining investment boom had already ended when USD/AUD was hovering in the mid-90's. It was the US QE, higher bond yields, the AAA rating and good outlook on China (there wasn't that much talk about a landing back then) that propped up the currency.
I believe the car manufacturers also said that they had been under pressure from other factors for a while. E.g. high labour costs. Toyota gave an example where every worker took Friday afternoon off together to donate blood, thus stopping the production line completely.
I just hope these subs won't turn out to be like those Collins.
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