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In a nice little illustration of Dutch disease:
Rio Tinto has decided to mothball alumina production at its loss-making Gove site in the Northern Territory, dealing a blow to the fragile local community in north-eastern Arnhem Land.
The hollowing out takes another fairy step.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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