Independent think-tank Centre for Economic Development Australia (CEDA) has released a comprehensive report into Australia's current economic state and performance, calling on government and the private sector to invest more in education and infrastructure.
According to CEDA policy and communications director David Walker, the report -- Growth 58: Competing from Australia -- describes a country which has benefited from integrating into the global economy, despite significant geographical disadvantage. Walker said we need to understand that Australia is a services country and that our services exports have real value.
This is especially true of the ICT sector according to report contributor and author of the book The Australian Miracle, Thomas Barlow, who argued that our creativity when it comes to development and systems integration, more than makes up for a non-existent manufacturing base.
"We still aren't large producers of IT but we are fantastic systems integrators," Barlow said. "It's small and large technology integrators who are transforming our economy and taking their skills to the world."
However, the report also expressed serious concerns regarding the provision of broadband in Australia, pointing out that we're ranked 23 out of 32 OECD countries when it comes to access rates, and last when it comes to download speeds.
Barlow also pointed out that investment in infrastructure would not be enough to continue to grow the economy, and that the government needed to take a more active role in engaging global markets.
"We have to be aware that we are hampered by distance, and that we need to actually physically take our businesses to the world, and actually physically set up international offices," Barlow said. "There's also a strong and consistent message throughout the report that the government needs to support skills, training and education in order to ensure growth."
