Western Sydney ready and willing to work hard and clever | thetelegraph.com.au - 3 views
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cmerris on 09 Apr 14Australia is ranked second in HDI, yet it is still in industries that most stage three countries would have. Australia still has not opened themselves up to services like the United States and Western European nations.
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Experts say an influx of “knowledge jobs’’ — that usually require a tertiary degree — are growing strongly despite a high Australian dollar and competition from cheap imports.
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industries such as healthcare, finance and insurance are growing strongly, while manufacturing companies are adapting to changing conditions.
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This article explains the changing jobs in the developed country, Australia.
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First thought...interesting article Cameron. It encouraging to see a country like Australia developing and implementing services in its economy. I wonder how this will effect the prices of the minerals Australia exports to the majority of the world? With more people moving to the service sector there will be less in the mines, so my gut tells me that the world wide prices will go down due to the fact that companies will be able to make a bigger profit selling the same amount of material due to lower labor costs.
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I feel like Australia has a lot going for it! Like you mentioned, it has a high HDI- this is no coincidence. As we know, it has access to important natural resources. It is fairly isolated, which can hurt its economy, but there is less competition for jobs. It is also a highly popular area for tourism. It doesn't get involved in a lot of matters occurring in the northern hemispheres, which keeps it out of costly wars.