Australia’s ‘rust bucket’ economy threatens national security

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Former Labor leader Bill Shorten warned that Australia’s declining economic complexity is the single biggest threat to national security.

Shorten noted that the Harvard Kennedy School’s Economic Complexity Index ranked Australia 105th out of 145 nations.

“Our near neighbours are Botswana, Panama, Namibia and Togo”, he said.

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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.