Victoria imported $54,000,000,000 ($54 Billion) more than it exported last year. As 5,000,000 of the 6,000,000 people in Victoria live in Melbourne, this is really about Melbourne. Last year we imported $105,700,000,000 ($105.7 B) worth of goods and services, we exported $51,500,000000 ($51.5 B).
Dr. Bob Birrell is the Director of the Australian Population Research Institute and it was he who said that we are a "parasite city-state"'. He also said:
"Victorians were promised that under economic reforms of the past, the state would become a key exporter of knowledge intensive goods and services."
"This proved to be false."
Yes it did. Victoria was once Australia's manufacturing heart, today nearly all of that is gone. Not all, just most. There is still a high technology manufacturing base, but while it's products are of an extremely high quality it is not labour intensive. We, along with half of the Western world, were told that the old manufacturing jobs would go but new, better jobs would arrive. Yes, but what they didn't say was the total amount of jobs would be much less than before.
"Last year, our ETM (elaborately transformed manufacturing) imports increased by 9.9 per cent to $56.2 billion, while ETM exports remained steady at only $7.7 billion."
"The ETM deficit is actually growing, and that's because most of the industries that did have the capacity to export - including the car and telecommunications industries in bygone days - are mostly gone, and new ones have not emerged."
China is Victoria's main importer at $20.2 Billion and our main export country with $6.4 Billion exported.
This sad state of affairs is occurring all over the world, not just in the West. It is said that a fool and his money are soon parted....well what can you expect when we are all living in a fools paradise?
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