One might contend that the 4 of 5 respondents who indicated they thought Australia lacks preparedness for a significant economic shock have been vindicated by the current situation exposing the state of petroleum refining and reserves in Australia.
The last paragraph of the article suggested two survey periods, 2024 and February 2026. Given the tragic events in December 2025 and the further escalation of conflict due to the actions of two aligned countries (I hesitate to describe Israel and the US as allies given current events) with a nation accused of supporting bad actors here last year the increased concern for future political violence also seems warranted.
I hope that these events will spur a desire for a higher level of household resilience as it exposes the lack of systemic resilience Australia has chosen to have through numerous governments now. We have hollowed out our secondary industries, creating a real dichotomy between primary industries of resources, agriculture and energy and the services sector. Manufacturing has largely left these shores due to repeated decisions of governments and a want of parochial or protective practices. The COVID 19 pandemic also exposes our vulnerability to international manufacturing supply chains for critical supply across numerous critical sectors but particularly healthcare.
Unless we maintain some scaleable sovereign capacity to make necessities, in world wide disruptions Australia will be left wanting.
1 Comment
One might contend that the 4 of 5 respondents who indicated they thought Australia lacks preparedness for a significant economic shock have been vindicated by the current situation exposing the state of petroleum refining and reserves in Australia.
The last paragraph of the article suggested two survey periods, 2024 and February 2026. Given the tragic events in December 2025 and the further escalation of conflict due to the actions of two aligned countries (I hesitate to describe Israel and the US as allies given current events) with a nation accused of supporting bad actors here last year the increased concern for future political violence also seems warranted.
I hope that these events will spur a desire for a higher level of household resilience as it exposes the lack of systemic resilience Australia has chosen to have through numerous governments now. We have hollowed out our secondary industries, creating a real dichotomy between primary industries of resources, agriculture and energy and the services sector. Manufacturing has largely left these shores due to repeated decisions of governments and a want of parochial or protective practices. The COVID 19 pandemic also exposes our vulnerability to international manufacturing supply chains for critical supply across numerous critical sectors but particularly healthcare.
Unless we maintain some scaleable sovereign capacity to make necessities, in world wide disruptions Australia will be left wanting.