The only thing Australia can manufacture is a ponzi economy

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The Australian Sovereign Capability Alliance has called on the federal government to appoint a minister for Australian sovereign capability.

This follows the release of a report it commissioned, which found that Australia has the lowest level of manufacturing self-sufficiency of any country within the OECD.

ASCA director Martin Hamilton-Smith claims Australia is reliant on other countries for everything it needs in an emergency , with its vulnerability being exposed during the pandemic.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.