don't worry about Australia. It is currently swimming on that sweet sweet Chinese cash from iron ore sales
They are actually so rich now that they created a program to give money to businesses who were affected by the Chinese sanction Lol!!
Australia will always be fine, I dont understand why people think that the country would get poor because they got sanctioned.
Australia with Brazil control the market for high-grade iron ore so they can rest assure that they will always have cash
They used to talk about the Australian economy as a two-speed economy. The areas based on mining went on one speed, while the other areas went on a lower speed. Do not know what it is like now, as that country is far far away. The China market would been good for the lower speed economy, but that is cut off now.
In Canada, we call it the have and have-not provinces. The difference is that USA is Canada most important trading partner.
What happens in Canada, is that the have provinces, give welfare types of payments to the have-not provinces, to try to balance the provincial budgets (which they never do anyways).
How it works in Australia, could be the same, but who knows. What seems certain is an unbalance distribution of income, which creates inequality.
The streets of America tells us that inequality is a real problem in the world today.
Every time I heard them talking about "justice," I git a little nervous ...
