Savage beast

This seems to be the main problem, everywhere is being squeezed, people's wages are higher but the cost of living is higher still. If a cheaper option is available why would you buy Australian?

Thus the sleeping giant awakes and gobbles up trade. Companies push for bases abroad because the reality is they will make a greater profit.

'The reality is, if everything we sold was purely Australian and New Zealand made, I wouldn't have a business. Agriculture equipment has ties with the automotive industry so what happens there affects us,' said a spokesperson for Godings Agricultural Equipment, an agriculture distributor based in Victoria.

How will the government overcome this obstacle? Especially given the fact that re-investment in Australia will only happen when prices lower. Or they could just take out a leaf out of Cuba's book and force the sale of domestic and only domestic products. Tony Abbott the next Castro? Maybe not. Asia is well aware of the torrid financial past of the western world and she is laughing in the face of our historical stupidity.

Julie Bishop, as Foreign Affairs Minister, will have to whisper sweet nothings filled with trust as opposed to the lustful panting of desperation performed by previous secretaries. After years of being used, China is now holding all the aces.

Their growth slug earlier in the year injected panic into the global market, with the west watching and waiting for a treat.

In 10 years the Chinese economy has grown from a developing market to a fire breathing dragon. By suckling at the Australian mining teat, she produced a boom that helped safeguard the country from the GFC. But now her need for iron, ore and coal is on the decline a fact that is knolling for the mining industry.

However, even though this particular form of industry has slowed investment, nearly half of all Australian exports go to China. Shares in liquid gas and other forms of energy have remained steady and are projected to do so for at least another 30 years. But should this be relied upon? Will China really be the filly that Australia will ride to economic success on?

Doubtful, it would be a total imbecile government (and let's face it the world has never seen one of these have they?) that relied on an unsustainable boom economy to tie their ribbon to. For better or worse the global market is married to China's future growth and we better all cross our fingers and hope that they take great care of their economy because if China crashes, the GFC will look like a mere lack of pocket money.

Numerous companies in Australia rely on imports from and exporting to China so there is a whole section of the economy reliant on the East.

The result? That anything that occurs overseas has the power to directly harm Australian markets and industry.

'In industry, we have to keep our eye on Asia at all times' said one industry worker from Foilboard Insulation who make insulation and distributes Australia wide.