The Western debt-ridden nations have by and large managed to get by, but now there are signs that the lenders may seek their money back, as in Ireland. This debt is largely not government debt, but the results of the imbalance of exports and imports, and it is Western nations such as the United States and Australia that can find their featherless chickens don’t come home to roost. The interest on their debt alone is hard to pay annually – it piles up.
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The success of Australian products depend upon the actions of manufacturers, retailers, the media and consumers as well as governments.
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Taxes and imposts on Australian products but not on imports, on Australian manufactorers but not overseas makers,
are the business of governments.
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