Savage beast

'It is a double edged sword whether you are in competition or you're exporting or buying'.

Entrenched isn't the word. The savagery of global economics forces this partnership, making it harder to become unstuck and rely on domestic industry and trade. For some businesses partnership with Asia has proved more than lucrative and is, in their view, a step in the right direction. A spokesperson from Dust Extraction Australia said 'We can provide a service for Australian businesses at a lower cost because a number of our products come from Asia. It is because of that that we can quote the best price.'

Economically Australia has suffered some damaging figures of late, coming second worst out of 51 for productivity. If this fairytale Grimm is to be believed then Joe Hockey and his team have some serious sums to do.

The chicanery of the political system has left voters and industries feeling dazed and confused. The Labor party seems to have spent all the pennies but invested none to pay the bills and with the global growth rate supposedly barely clearing 2%; financial crisis seems to be too close to take another exit. How will gym mad Abbott apply the brakes and make the necessary turn? Let's hope he pumps enough iron to turn the wheel.

In a foray out to the bush this weekend I happened across a little outback pub. The landlady had an interesting take on the election and economic policies. 'This place is ruined. It doesn't matter who lives in the lodge they're all mongrels. It's the people that run this country.'

I considered this statement and agreed, ultimately Australia will define itself economically for good or bad and you just have to hope that it has the foresight to see that putting your eggs in a foreign basket can bite you faster than a funnel web.

Domestic investment may not necessarily reap the instantaneous benefits of commerce abroad but it will allow for economic building and growth. If the mining industry debacle taught the politicians nothing, then let them learn the lesson Britain never did. Perhaps a pre-1980's UK would not have been dismissed as 'a little island' by Mr Putin. At the moment, patriotism aside, I may be inclined to agree.