Editorial - Wednesday, May 13: Profit is put ahead of loyalty
AUSTRALIAN jobs can come at the price of the interconnected world in which we live, as even domestic companies put profit ahead of national loyalty.
In times where the bottom line rules, companies trying to stay competitive in global markets often find themselves on the wrong end of circumstance, even as the market considers the quality of overseas workmanship.
Labor costs, transport and the tyranny of distance are what Australian companies like WE Smith face in tendering for international contracts.
At their wits end in not being able to compete internationally, WE Smith in 2013 made a plea to the Federal Government and the mining industry that they were losing domestic contracts, even here in Australia, to international competitors heavily-subsidised by overseas governments.
Hindsight is a helpful thing, not afforded to those in power.
But with the mining and resources boom now over, did Australia capitalise to extent it should have from the country's wealth of resources?
Unfortunately, the push towards manufacturing can sometimes be a reminder that Australia's strength has always been primary production.
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