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Old Posted Oct 5, 2018, 5:43 PM
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Originally Posted by saffronleaf View Post
England = 53m
Southern Ontario = 12.8m
The Maritimes = 1.8m
Not that it makes much difference, but according to latest estimates, Southern Ontario would be somewhere well past 13.5 million by now.
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  #11462  
Old Posted Oct 10, 2018, 3:35 AM
SaskOttaLoo SaskOttaLoo is offline
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Originally Posted by saffronleaf View Post
- Only 30% of Australia's exports go to China. 75% of our exports go to the US.

- Look at this cost-of-living comparison: yes, rent in Sydney is 20-25% higher but wages are 35% lower in Toronto. If you dive into the numbers, Sydney, on account of much higher wages, is more affordable than Toronto. https://www.numbeo.com/cost-of-livin...&city2=Toronto

- From my cursory look, I think mining contributes a similar percentage to Australia's GDP that O&G does to Canada's.

Interesting articles about Australia's high GDP growth rate and 25+ years of no recession. They point out flaws but doesn't seem as doom and gloom.

https://www.economist.com/the-econom...ut-a-recession

https://www.economist.com/the-econom...conomic-growth

Well, from my reading I tend to think that Australia's economy is even worse-off than Canada's. See this link for a very long, in-depth and well-written analysis of the problems with Australia's economy: https://medium.com/@matt_11659/matt-...s-6877adb3fb2f

In essence, it has largely de-industrialized and relies on a property boom and natural resources. Well it could be easily argued that Canada has too, Australia has taken it several steps further. Comparing the maps of economic complexity between the two countries is quite instructive:
https://atlas.media.mit.edu/en/profile/country/can/
https://atlas.media.mit.edu/en/profile/country/aus/

They demonstrate Australia's much more poorly diversified economy, and its focus on relatively less complex products. Overall, from my vantage point Canada is the better structured economy, despite its own many, many deficiencies. Is Australia better positioned to the world's future economic growth? Undoubtedly. But key economic signals seem to suggest it's going in the wrong direction and ending up as a supplier of raw commodities to those fast-growing Asian countries.
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