Folks I've been talking to see a huge hit coming for us. Mining is getting automated (and coal/gas have huge problems). Education is getting hit by AI. Agriculture is good but employs relatively few people. Property is and always has been a zero-sum game that soaks up capital but doesn't return anything. Construction is getting pulled into building data centres for US hyperscalers.
We don't seem to be able to differentiate our economy away from resources at all - every attempt to do this (Turnbull's Ideas Boom being the classic) has failed.
Folks I've been talking to see a huge hit coming for us. Mining is getting automated (and coal/gas have huge problems). Education is getting hit by AI. Agriculture is good but employs relatively few people. Property is and always has been a zero-sum game that soaks up capital but doesn't return anything. Construction is getting pulled into building data centres for US hyperscalers.
We don't seem to be able to differentiate our economy away from resources at all - every attempt to do this (Turnbull's Ideas Boom being the classic) has failed.
It's looking pretty bleak for the Lucky Country.