Not that long ago, Australians owned many public enterprises and lived behind high tariff walls. The country ran on cheap coal-fired power. A pro-China foreign policy and a large, bipartisan migration program worked to the country’s benefit.
Today’s policy landscape would have been unimaginable to many voters 40 years ago. Most of the old state-owned enterprises now belong to shareholders. National Party leader Matt Canavan is a very lonely voice in his calls for renewed tariff protectionism.
