Reports are starting to suggest that Australia's slowing economy is tied to the economic downturn in China. How long has it taken the economists to work this one out?
It has been obvious for years that Australia's narrow minded focus on 'the Asian region' and notion that 'we are part of the Asian region' has done more harm than good to the economy.
We have failed to recognise the need to work at developing a much broader range of trade contacts.
We do almost no business with South America or Africa. We have not done nearly enough with the Indian sub-continent. Australian schools do not teach enough about these regions. The languages of these regions are almost totally ignored. We are now paying a bigger price than we needed to in the slowing world economy.