The problem with Australia is that we have the paradox of plenty.

So many people in this country have gotten rich from digging stuff up from the ground and selling it to a rising global superpower - China.

This has made our economy lop-sided and unsophisticated.

We have the human capital to be able to innovate like South Korea & Israel, but do we pursue it? Of course we don't.

It's much easier to get rich through finance, digging up coal or gas, or through property development.

One third of our exports go to China. ONE THIRD.

We could be exporting intellectual property to Europe and the USA, who would respect the rules of free trade.

But no. Our economy got fat and lazy. And here we are.

We are now facing a dilemma where we accept that China will coerce us into obedience, or we will become bankrupted as a country.

Thanks to all of the greedy boomers who thought China would play by the rules, & we could coast on our resources forever.