Horizon with dark clouds

THE ongoing trade war between US and China could easily have significant negative impact on the Australian economy and jobs.

China is our largest trading partner and the US is our good friend. Can we dance between the raindrops?

The trade war is already slowing Chinese economic growth.

The reality is, if the trade war escalates, we could see a significant fall in Chinese growth, from 6.5 per cent, and that could easily have a ripple effect across the Australian economy and induce recession in Australia.

The only reason we are not technically in recession right now is the massive immigration intake.

Lower demand for our resources will result in lower commodity prices and that will affect our projected budget.

Just our export of iron ore and coal to China is worth more than $130 billion.

Other countries do not need the quantity of Australian minerals that China needs.

That is why we have no choice, Australia has most of its eggs in one basket. Demand from other countries is simply not there.

Maybe this is the right time to put on thinking caps and have more vision and stop relying forever on digging and exporting our minerals to other countries.

We once had a strong manufacturing industry which had been dismantled and moved to the east. Our industrial base is now offshore. We must have again a significant manufacturing industry in Australia to provide a stronger and less vulnerable economy.

By selling overpriced houses and apartments to each other is not going to do the job. Josip Crljen, Parramatta Park 1909: The world’s first Boy Scout Rally is

held at Crystal Palace near London. 1977: Queensland premier Joh BjelkePetersen removes the right to appeal a ban on street marches. 2002: A new report says the economic cost New York City will suffer as the result of the September 11 attacks will range from $US83 billion ($A89.80 billion) to $US95 billion ($A102.79 billion). 2006: Australia’s real life crocodile hunter Steve Irwin (above) dies after the barb of a stingray pierces his chest while diving off Australia’s northeast coast. 2016: G20 leaders gather in China where nations come under pressure to lower global greenhouse gas emissions by formally ratifying the Paris Climate Change agreement.