Ian Porter, former business editor of The Age, argues that the demise of Australian car-making industry will herald the opening of a new era in unemployment and mark the end of the country's period of economic growth.
The Australian car manufacturing industry is no more.
Holden on Friday (October 20) rolled its last Commodore off the assembly line, ending almost 70 years of vehicle production in Australia and more than 50 at its Elizabeth facilities in Adelaide's north.
Ian Porter, former business editor of The Age, argues that October 20 will be the day that marks the end of Australia's ambition to be an industrialised nation that offers 40-hour jobs to thousands of people across the country.
He also says the death of the car industry will see the country revert to the economic pillars that were built up in the 19th century, farming and mining.
He pointedly says we cannot survive in the competition with low-labour-cost Asian countries when tariffs and assistance were withdrawn.
He argues the car industry brings the full-time work and good wages, furthermore it stimulates progress in the various industries that supply carmakers: metallurgy, robotics, electronics, plastics, logistics as well as all the skills and capabilities needed to stitch it all together.
Mr Porter points out that the closure of the car industry shows that Australia's politicians have lost sight of their basic task, to improve the living standards of all Australians. And the current economic and trade settings can hardly create jobs for the millions living in the suburbs.
