Two Economies, With One Set of Flaws: The Economies of Australia and Canada | Econ

Australia 🇦🇺 and Canada 🇨🇦, even though they're far apart, actually have a lot in common when it comes to their economies. They both rely a lot on selling commodities like minerals and oil, which can be risky. Also, both countries deal with challenges in their housing markets because of immigration 🏠, which drives up prices in big cities. Plus, they're both trying to figure out how to boost innovation and productivity 🚀.
Australia has seen some success with economic reforms that helped its economy grow, while Canada is still figuring out how to deal with its heavy dependence on oil and gas exports ⛽️. In a world full of uncertainty, both nations are working hard to make the most of their economic strengths while tackling their weaknesses 💪. #economy #canada #australia #canadaeconomy
Support my research and projects: ko-fi.com/econyt
Enjoyed the video?
Comment below! 💬
⭑ Subscribe to Econ 👉 bit.ly/3qcMwTA
⭑ Enjoyed? Hit the like button! 👍
Citation: pastebin.com/XeexSw48
Maps: MapBox by GEOlayers 3
Image:
commons.wikimedia.org/
Free Vectors/Photos
www.vecteezy.com/
www.freepik.com/
Stock Footages:
www.pexels.com/videos/
www.storyblocks.com/
www.istockphoto.com/
Music by:
KZbin Library

[@econYT]

Support my research and projects: ko-fi.com/econyt Hi! Awesome people of the internet. -Comments and suggestions are welcome. -Please share videos with people who you think might enjoy this content. -Don't forget to subscribe for more economics content! You are awesome :)

[@theprimest]

Subbed and liked man, enjoyed watching this you've got to a video on Egypt's economy it's a hot topic with its potential of the new capital and it's huge human capital it has the potential to skyrocket but it needs to open up its businesses. All the best man I'll catch you in the next video!

[@user-bk8tf6cw4b]

Outstanding presentation! I happily subscribed to your channel a few minutes ago after watching this video.

[@kayvanwonderer]

What makes you an authority on this topic? seems like an amateur channel.

[@giovanniadams2292]

didn't know that Africa and south America were countries lmao

[@dorianmode69]

Keynesian economics are shit

[@threeone6012]

Both country's financial systems depend on their galactic sized housing bubbles to grow faster than their economies... forever. Some might call that a flaw.

[@beautanner8409]

@@tonybloomfield5635 In years past, housing was reasonably proportional to the incomes of those who would be interested in buying them - it was not a bubble. It has only been in the past few years that local home prices have completely decoupled from local incomes. This is a new phenomenon in the Canadian experience.

[@archimedes2261]

Big flaw stagnant wages, rising costs of everything, overpriced homes and low productivity and no emphasis on corporate valuation like the US or China.

[@mattmckeon1688]

I wonder if that is in any way linked to the "deregulation of financial services" in the 1980s. 🤔

[@hungryghost3260]

YES! This decades-long mistake could get bad enough to not only undermine hope and optimism, but to cause civil unrest. The nabobs don't talk about this nearly enough.

[@mkuc6951]

Flaw would be an understatement. Theres no point in saving for a home in Australia from my experience. You'd have to move several hours out of the city and commute hours each day. The US has 50 states to chose from, we really only have 5 capitals but most of the jobs are in Sydney and Melbourne.

[@Tobi_Jones]

In Canada our quality of life is plummeting year over year. The government has sold out the working class to the monopolistic corporations. Wage suppression and increased cost of living due to unrestrained immigration. An oversupply of cheap unskilled immigrant labor is good for the corporations and rich, but bad for everyone else.

[@Minchya]

Sounds like the path Australia is on

[@dhruvbhalodi77]

Then how is it the so called "Immigrants" are one of the highest earners and most homeless people are "Non Immigrants". Blame it on immigration if you are incompetent

[@mharley3791]

It’s actually kind of insane how much the Canadian economy is tied up and mega corporations, way more than the US. Is that why phone plans are so expensive in Canada?

[@davidhughes6048]

Agreed. I am really sad that this country’s leaders have lost their way. We try to solve all our problems by throwing hugely inefficient Government money at them instead of inducing the private sector to step up with less expensive inducements. The trouble with Socialism is eventually you run out of other people’s money. 😢

[@tobybrown1179]

The more immigrants the higher the debt burden on the country too

[@zeq9021]

"In countries like Africa and South America"... for real?

[@lionelhutz5137]

🤣

[@clarissagafoor5222]

Yup - tbh the moment I heard that I lost interest - such a simple thing to get correct - if he`s got this wrong, what else?

[@venus_envy]

I was looking for this comment. I was flabbergasted when I heard that.

[@venus_envy]

@@SimonTmte Yes, two, definitely not one. Sub-saharan Africa already has a big problem with Arabs coming down from the North and literally going on raids and enslaving the Africans. In the current year. It's insane. Not the borders seem to stop them. And no one in the west seems to care because it's not a fashionable cause with ivory tower egg heads and their students. Sigh.

[@venus_envy]

@@clarissagafoor5222 As a Canadian I can confirm that he made our economy sound WAY better than it actually is. Notice manufacturing was only 15%. Not a big chunk of the economy, is it? So what are the actual major "industries"? Basically, a Ponzi scheme real estate market, and car theft after that are the two largest sectors of the Canadian economy.

[@sydguitar99]

Canada being next to the US is a gift and a curse because they do get the protection and safety of being close to the US but that proximity also means it's a lot easier for them to lose talent to the US

[@thereflextester_]

I forget the exact percentage, but a stupid high percentage of software engineering grads in Canada end up going to the states in stead of staying in Canada. With the salary differences, I don't blame them.

[@sydguitar99]

@@thereflextester_ with the amount of layoffs in the software industry right now, I bet a lot of them are regretting that decision now

[@elifuentes7070]

@@sydguitar99 They still have more opportunities in the US than in Canada. In fact, this is a common theme across all industries. I just met a Canadian business grad who said most of his peers are working in the US, and he was among the last ones to move to the US.

[@sydguitar99]

@@elifuentes7070 that's Business, your original example was about software developers who are pretty much expendable now bc every industry is having mass layoffs of devs in the US, the unemployment benefits are terrible compared to the EU and even Canada. Also most of these sw jobs won't return to NA bc companies can hire overseas contractors for way cheaper

[@indianmilitary]

@@elifuentes7070 It will be shot lived because of impending de-dollarization. Even experienced IT workers working for top social media giants can forget about high salaries

[@zion9860]

There isn’t enough competition in Australia or Canada to bring down prices for consumers. The consumers in those two countries pay some of the highest prices in almost everything compared to the United States. That needs to change if Canada and Australia wants to stay viable in this global economy.

[@millenialmusings8451]

Can't happen due to economics of scale. US is cheaper because it has the third highest population on the planet

[@penponds]

Geography (distances) and climate impose additional costs that have to be covered - by the ultimate consumer. For Australia, not only are distances great (and transport networks terrible) north and south on the populated east coast, but also between the east coast and Perth on the west coast - a whole continent away. And in the middle (85% of the country) there’s no reliable water, a brutal climate and racist development restrictions, even before some crazy person decided to try to build a whole new industrial hub there. Why does Elon Musk think that Mars is the future, and not the Outback, where at least the atmosphere contains oxygen - because on Mars there’s no Martians (if you get my drift…). Australia is also much greater distance than Canada from all the “workshops” of the world - China & NE Asia, the US and Europe. The tyranny of distance applies not only to external trade, but also to internal. It’s a lose-lose, that can never be overcome unless productivity increases to a totally extraordinary degree. And that’s not happening…!

[@theshi3152]

@@millenialmusings8451 This isnt true in the case of many Canadian industries. Grocer's sure. Not telecom, not healthcare. it would be relatively easy for Canada to heavily encourage diversification in this area. Nationalize the Telecom's infrastructure and rent it back to them. it never should have been built with private money in the first place. Heath care needs a rework top to bottom half of the issue is lack of Staff, raising wages to insane levels (travel nurses) and an administration wing that is far more interested in privatization than actually providing care. These issues aren't scale. its access restriction by the few who control the resources.

[@czarkusa2018]

Did you hear about the grocer that was bought by a local council in the Western Australian town of Norseman? They're making a $3 million AUD annual PROFIT and reducing taxes. Should be a system rolled out nationally.

[@iamthinking2252_]

not that anyone wants the population for a bigger market

[@Entername-md1ev]

I knew these two countries were similar but after this breakdown I’m like damn…the British really did make two twin countries on opposite ends of the world 😅

[@helloworld6126]

Yes to send the convicts across at that time.

[@Entername-md1ev]

@@helloworld6126 I know they did with Australia but did they also bring convicts to Canada? I know the British made sure to settle enough people that it would outnumber the amount of French-speaking habitants in Canada but never heard about there being any prisoners

[@sigma3636]

@@Entername-md1evThe British never really brought convicts to Canada, in fact it was the opposite as some Quebecois rebels were actually sent to Australia as prisoners.

[@user-ov4mk9ox8y]

I'm surrounded by Australians, and one Nz'r, ..........in Canada!!

[@IDrNik]

As a dual Canadian-Australian citizen, I find this pretty interesting and mostly accurate. However, prosperity in Australia isn't as rosy as suggested here. Salaries are higher, but cost of living is also higher. Like Canada housing prices are insane, and unless you work in mining or a big investment institution your salary probably won't have gone up relative to CPI in the past 7 or 8 years. Overall, I think both countries suffer from their reliance on abrogating governance to powerful resource giants, who often pay little in tax. Also, apparently 15 of Australia's top 20 businesses are majority US-owned! But really I'm commenting to mention that Africa and South Ameria aren't countries.

[@kingsimba9513]

Similar economies, sure. But vastly different levels of prosperity. Australia's median wealth per capita (in USD) is approximately $247,000, which is nearly double that of Canada's $137,000. Canada also falls behind in other development metrics, such as education, healthcare, income inequality, life expectancy, talent competitiveness, etc. This is despite their incredibly strategic position of being next to the world's largest economy. Pretty eye-opening when you think about it.

[@TyInglis9001]

Most citizens being hundreds of kilometers within the ultimate brain drain vector isn't a clear "incredibly strategic position". Trade is more optimized around seaports than overland. The wealth per capita point if substantial, even if slightly weakened by Australia having 10% higher household debt.

[@kingsimba9513]

@@TyInglis9001 Fair point on the brain drain, but the figures I mentioned represent net wealth, which already factors in household debt.

[@lakeofbays1622]

That depends how much Australia can sell to China as coal and iron ore. Canada has no such dependence. Also median income has no significance since most of the money sits with the "mining barons" and flows out of the country.

[@kingsimba9513]

@@lakeofbays1622 Australia has always been at the top of median wealth statistics, even during bearish commodity years (e.g., 2012-2019). UBS keeps a record going back quite a bit. Contrary to popular belief, mining only represents 14% of Australia's GDP. The country's wealth can be attributed to its robust (compulsory) superannuation system, high minimum wage (highest in the world btw), and for better or worse, some of the most expensive property valuations around. The average Australian also spends much less on healthcare than the average Canadian, so there's that.

[@vincentcacciola7161]

Most of that wealth is tired up in a house a lot of Australians can't afford there rent each week

[@time2killaspider]

The largest problem with immigration in Canada is that for a long time is that it was left largely unchecked. It also left room for foreign investors to buy up land and generate an income flow that just funnelled into their own economy. It happened a lot in Ontario and BC.

[@julianrockett5575]

Still happens here in Sydney. We have suburbs that are effectively empty. The rules for immigration were $5m in the bank. There you go!

[@user-ov4mk9ox8y]

Cash moves worldwide. Remember when Irish estates and Belgium castles could be bought real cheap???! You have a big country aim missiles at your little island you'd be looking for a safe haven, too.

[@Gossuarit]

Percentage of foreign real estate buyers made up 0.7%. That's not the problem

[@Brainiac5]

Lmao that has nothing to do with why canada is eating shit atm. It is to do with the monopolistic nature of businesses in canada and aussie, coupled with a focus on making sure most people rent for life to help bolster real estate corporations and an easily influenced political environment

[@00bikeboy]

Canadians are clever innovators but we seem to lack the business smarts to sustain world-class businesses. Blackberry had the world by the balls but they blew it. Other great Canadian technology (whose R&D is subsided by taxpayers) are quickly bought out by US firms who are far more willing to take risks. It's tough to grow in the US' shadow.

[@josephj6521]

I think Canada has a better position geographically to piggy-back off the USA. They can encourage US business to move there and stay on their same time-zones. They can boost more tourism and encourage it. They can encourage more US citizen tourism simply because many can drive over the border. They have the largest fresh water reserves in the World. They have no droughts unlike Australia. Australia is remote from most of the World and no one can drive in-out of it. It’s highly restrictive compared to most other nations.

[@1_therealcreatedjam-ph8pv]

Canada is only 23rd for doing business north macedonia is 17th Mauritius is 13th Australia is 14th

[@helloworld6126]

Look at the company Nortel. Canadians learned any lesson out of it?

[@jean-louislalonde6070]

@@helloworld6126 What about Bombardier?

[@nightshotz623]

@@jean-louislalonde6070it is beyond me how the Quebec government continues to bail them out…

[@paulfrenkiel274]

I have lived in Australia for 25 years now. It is not the country it used to be a quarter of a century ago. Basic every day use products, services, are a lot dearer now when compared to average income. Average property was between 4 to 5 average national annual incomes, now it is more than 10. If you plan to immigrate to Australia don't bother if you won't get an income of $AU200k per annum minimum. You buy an average home and the bank loan for it will enslave you for decades. In that situation, by not coming to Australia, you will not sacrifice family, friends and an environment you are familiar and comfortable with for the same or larger economic challenges than in your place of birth. Australia is simply too expensive these days.

[@coma3550]

Thats quite a pessimistic view of one of the best countries to live in, in the world.

[@ps_pol_xbox9036]

​@@coma3550"one of the best countries in the world to live in" only if you can afford to.

[@helloworld6126]

I always think in this regard Australia is smarter than Canada. Why Canada allows the people to migrate - for those who cannot afford the cost of living in Canada such as Vancouver? The poor immigrants cannot resolve the shortage of labour problems but introduced the housing and other cultural and social problems. Quality is far more important than Quantity. For Canada’s case, US is the brain drain. Immigrant just uses Canada as the stepping stones.

[@clubyusa]

As a Canadian living in Australia, I'd have to say Australia is a far cheaper place to live than Canada. Canada has really shat the bed in recent years, went back to visit this past winter and the price of everything is insane. Rent is more, houses cost more, food is more expensive, phone plans are downright predatory, and petrol is a luxury. Not to mention I get paid $15AUD more in Australia for the exact same job I was doing in Canada. Hoping for a brighter future for both our countries!

[@mgp1203]

I'm doing okay on just 75k pa at the moment, only because I live 40min from the CBD (Sydney), but yes, I definitely remember a time when it was MUCH cheaper and easier to live, even just 5 years ago. For example, adult movie tickets being $25-30 nowadays is just insane. I remember just 3 years ago when I spent $17 on the same thing and I thought that was crazy. You can barely treat yourself to anything these days.

[@tossed_about]

Commodity exporting countries are often looked down upon compared to manufacture based exporting countries. However, you can't move mining industries overseas to countries where there are no commodities. Manufacturing is notorious for being at the whim of labour costs and being moved to the current lowest cost countries - the latest example being Germany where it's car manufacturing is being severely impacted by Asian cheaper labour and industrialisation.

[@smalltime0]

Part of that is tariff barriers in the Asian nations. For example, if you don't do at least some work in China on a car, the Chinese government slaps a scaled tariff on it. It means its simply impossible for all but the most expensive cars to be exported there.

[@lzh4950]

An op-ed in my country's newspaper also thinks Western countries have less political courage to cut back on welfare benefits so as to make them more economically competitive

[@4Fixerdave]

The problem with growing a business in Canada, or even starting one, is that success breeds predation. The US just has a vastly larger economic base and buys anything successful. All those foreign investment rules were created for a reason. But, for what they can't just buy, the big US corporations lobby their government to institute trade restrictions that make real competition impossible. There are some sectors where Canadian corporations have done well, such as banking and forestry, where many US companies have been bought by Canadian ones. But, in general, the way in Canada to survive is to just build and sell, make your money, and then start again. Americans own the results.

[@paul1979uk2000]

Unfortunately, that's the big advantage the big players like the EU, US and China have, they can change the rules in their favour to benefit them and put other countries at a disadvantage. Having a big consumer base market is a massive advantage as it basically means they can make the rules however they see fit, it also gives individuals and companies in those markets a big advantage as they can play by different rules compared to the rest of the world by having easy access to a big consumer base. The irony is, in the case of the EU, if the members got their act together, create a capital market and other reforms and integrations, it would allow the EU to do a lot of the same that the US and China does when it comes to big spending and investment in many sectors, including high-tech, that would be a major advantage for the EU but it would put other countries like Australia and Canada at a disadvantage. Today, the world is ruled by two things, the size of the economy and the population size which creates a big consumer base, those two factors allow them to make the rules up as they go along and it's more or less what the EU and US does when it comes to international rules and regulations.

[@fernandoamy8278]

Nobody's forcing Canadians to sell anything to the Americans. Business is Business. I assume that they sell because the price suits them. That also works both ways. There's nothing to stop Canadians from buying or investing in American businesses.

[@archimedes2261]

​@@fernandoamy8278I would much rather invest in big corporations even US ones over Canada's overpriced housings.

[@avroarchitect1793]

@@fernandoamy8278 you say that but any time the US doesn't get what it wants it imposes a tarrif or embargo on an unrelated industry as a form of economic warfare.

[@firstpostcommenter8078]

So true

[@adamedlund6366]

I never realised how similar the economies of canda and australia are, good video

[@Superclip2543]

​@@SathyaswamySwth 🤔

[@whitneyanders5945]

Indians have become the Uber Driver service class in Australia. The amount of Indian engineers and accountants who drive Ubers in Australia is off the charts.

[@mombaassa]

​@@Superclip2543 He/she is here to stir trouble. Channel has no content and is less than a month old.

[@Entername-md1ev]

It shouldn’t really be that surprising, the British essentially made two twin countries on opposite ends of the world 😅

[@Obscurai]

Geographically, both AU and CA complain about the concentration of political power in their eastern cities. Additionally, Canada has an relatively poorer Maritime provinces, and Australia has the poorer Tasmania. Both countries also have sparsely populated expansive northern territories. The two countries are eerily similar.

[@EmmanuelMotelin]

South America and Africa are continents incase you thought it was a country.

[@nidhavellir]

Does he call them countries in the video?

[@glynnec2008]

"Places" would have been a better word choice in that particular sentence, but I understood what he meant

[@ricardoalexisnolazcocontre9110]

@@nidhavellir Yes, he did. He called them countries in minute 7:00

[@MarkBoda]

“In countries like…” Instead he should have said “in countries OF Africa and South America” which is how I interpreted the statement.

[@1keryl]

​@MarkBoda even then he ought to have said "in some countries in South America.."

[@trenty3237]

Excellent analysis - as an Aussie I’ve long thought Canada most comparable to us - this vid nails it!

[@thorinbane]

I think Canada of the same way, but in some regards we are like the kiwis living next to the USA instead of Australia.

[@ramumasankaran4588]

Being a resident of both Australia and Canada gives me a clear insight of what Canada can learn from Australia and vice versa. I just wish Canada has a pay scale like that of Australia and that would make Canada more desirable to Australia. That said the Grass is always greener on the other side until you experience it. I love both the countries, but love Australia more for their wine industry, so underrated, but always does magic on your pallet.

[@joanneburford6364]

Australian wine, and in particular South Australian wine isn't underrated. We have won best wine in the world for many classes. The only country to not recognise our wines is the US. Saw a post by Forbes recently re carbenet sauvignon and all in the Top 30 were from the US except one, Penfolds (South Australian). The American arrogance and ignorance continues.

[@nigelkelley3004]

Magic on your pallet? You must drink a lot of wine 😂

[@EndlessApocalypse]

Im in the same boat - aussie living in canada. Canada seems to struggle with its infrastructure because of their winters. roads get chewed up by salt and plows and it looks run down. Then you also have the tipping culture in canada, wages are skewed more towards tourist spots - the same office job in canada vs australia would be 50k vs 80k respectively, but a 50k job as a waiter/ress in australia could net you between 35k-100k in canada depending on what price your food is listed for and how busy you are Cost of living is similar between both from experience, australia being higher with housing, but canada has surprisingly high rent for their house prices (in ontario at least)

[@nigelkelley3004]

@@EndlessApocalypseI lived in Toronto in the mid 90’s. A long time ago but I generally found wages a bit lower, housing a bit lower, cost of mass produced goods quite a bit lower. I would characterise the difference as Canada having a slightly higher standard of living and Australia having a better quality of life due to weather, freshness of food etc.

[@StewNWT]

I've lived in both and Australia is a fucking mess, the people are rude and abusive and Aussie corps are terriblke

[@murrayslee911]

Australia and Canada hove 2 things in common, both PMs are incompetent.

[@davidhack2409]

Solid analysis. The thumbnail showing multiple cities on the West Australian coast was pretty funny though 😂 love from Perth

[@IsaiahJarade]

Liked from Melbourne ❤

[@toni4729]

Don't come to Australia now, the real estate prices have about doubled in the past couple of years. There aren't enough homes for people anymore. Some suburban houses are outrageously priced now and there are none for new home buyers. Also, it seems there are no builders left either.

[@user-yh2of2nz2s]

My friend and his wife bought a house in Brampton, Ontario, Canada in 2012 for $320,000. Ten years later it was valued at $1,000,000. It is a small 1000 sq. ft. home. Absolutely insane.

[@archimedes2261]

Don't come to Canada for the same exact reasons, wildly overpriced housings.

[@crosswire7777]

Double is still cheaper than canada mate

[@toni4729]

@@crosswire7777 When a three bedroom house now is reaching over a million dollars in the suburbs, and I'm not talking about Sydney.

[@gilliankirby]

It's happening in all English speaking western countries- get out of your bubble and take an interest in the world

[@munandfun]

damn, the economic similarities i never thought about. love live canada, long live australia.

[@BDee3126]

I hope Canada democratically joins the US and becomes the 51st State one day.

[@singhsaab20237]

Australia is best in the world.

[@singhsaab20237]

@@Jack-mb8bu What is best then usa 140% gdp to debt or canada 110% gdp to debt. If you don't know Aus is only developed country lowest debt 35% in the world & since 1990 to 2024 No recession. Where as usa canada had 4 recession in this period 🦘🇦🇺🐨💪🥊

[@paulfri1569]

Australia is Canada with Sunshine and sand ☀️

[@Metalblaze124]

And poisonous things! lol

[@dan__________________]

@@Metalblaze124 And alone in the middle of the ocean.

[@joanneburford6364]

​@@dan__________________it's nice watching other countries stuff up from a distance.

[@loeffelm]

Most likely unlivable by the end of the century though

[@Entername-md1ev]

Or is Canada Australia with snow and mountains 😉

[@ChrisPollitt]

Some very revealing graphs. Thank you!

[@TDK2K]

Canada has very little productivity. Current Canadian leadership is incompetent and has not taken advantage of expanding natural resource development. About a third of the entire Canadian economy is the buying and selling real estate.

[@helloworld6126]

Correct. The leadership is weak and useless. It is the root cause of the problems

[@ransom182]

Blame NIMBYS for the housing issues.

[@maddoxmagennis1520]

Canadas productivity is falling, but we are still relatively average in the G7 per person. As bad as things are right now, we aren’t at crisis levels there yet. Housing on the other han-

[@hcodrum156]

Australia is the same

[@lionelhutz5137]

Nimbys: "Bu-but muh equity"

[@zoeydeu2261]

If UK is the motherland, Australia and Canada would be like her children (Commonwealth) and thus siblings to each other. Both similar, just different in terms of weather and geography.

[@------837]

The us and canada have way more in common then Australia and Canada do hell even more then the UK and Australia do with one another

[@pepperonish]

We in the US are the kid she had in high school who was a teenager when AUS and CAN were born.

[@eighty88eight]

A 250 yr old foundation of sluvery & gonocide

[@mharley3791]

@@eighty88eight considering that the US economy is larger than both United Kingdom, Australia, and Canada combined and the United States is the security guarantee for all three nations. It’s a really big pimple.

[@aymanla471]

@@pepperonish yeah and new Zealand was a fetus

[@sunny2355]

As a Canadian 🇨🇦 who loves Visiting Australia 🇦🇺 often, I love this video

[@crosswire7777]

Are grocery store prices and food cheaper in australia?

[@sunny2355]

@@crosswire7777 Maybe its just me but I have noticed that prices are very similar, little more cheaper in Canada for Dairy and fruits.

[@crosswire7777]

@@sunny2355 thats good for australia because incomes are higher

[@sigma3636]

@@sunny2355Dairy is heavily subsidized by the government in Canada that's probably why.

[@PartyingLemons]

I’m Canadian and my dream would be to move to Western Australia. I absolutely love that place.

[@risottonero6635]

Love this channel, criminally underrated

[@noreavad]

Important to note also that in Canada, high end manufacturing like aerospace and robotics have been actively dismantled by international competition and acquisitions. The canadian workforce can be creative and is highly educated but the global markets act like they don't want it.

[@bbc2630]

That’s the curse of living in the shadows of the US which is a formidable machine

[@MyNamesHunter75]

Issue also arises when Canadas who are high skilled are better off and feel more appreciated and welcomed in the US. Anyone working in aerospace is better off going to the US where they will have a more consistent cost of living and better quality of life

[@dfs-comedy]

Canada used to have world-class high-tech companies like Nortel and Blackberry, but Nortel was sunk by terrible leadership and fraud, and Blackberry by not anticipating how the market would change. Canada's three biggest problems are lack of competition, the housing crisis, and a crisis in our healthcare system. In particular, large companies have the ears of politicians and have convinced them to keep competition suppressed.

[@Leviathan02464]

Canadas problems are caused by leftist/socialists

[@DutchVai]

Canada's three biggest problems...? JT.... JT....and JT.

[@dhruvilkumpavat6037]

Great Video Econ as always

[@barbarosozturk]

I love this. Thank you for sharing.

[@rex_8618]

I agree with Australia not investing enough time, effort and research into technology. We're overly reliant on our manufacturing and mining industries.

[@archimedes2261]

Manufacturing is a form of technology also.

[@user-xq1wz3tp5z]

I think Australia has world class tech for Uranium concentration, and also radioactive waste (depleted/reprocessed fuel) sequestration.

[@user-sz2ef5sc8e]

What manufacturing?

[@detectiveofmoneypolitics]

Economic investigator Frank G Melbourne Australia is following this informative content cheers Frank 😊

[@bthomson]

Clear graphs and clear narration! Nice job!

[@jamesthurber4730]

Highly informative ! Thank you.

[@glennt1962]

Australia is the 7the largest producer of Natural Gas and Beef and 2nd largest producer of Gold and Sheep in the world. Unfortunately cost of living for both countries are much higher than their dependant countries. Housing as mentioned, food and transport. Excellent video by the way.

[@boodashaka2841]

Here in New Zealand you definitely hear about the prosperity of Aussie a lot. They play ads over here all the time to entice workers over as they usually are able to pay us twice what we can make here in NZ or close to it. My current job I work for an Aussie company and they use us as cheap overseas labour lmao and things in general cost about the same over there as they do here

[@willrobinson4976]

In the March jobs report, the US added 303,000 jobs, while Canada shed 2200 jobs for their March jobs report. So, yes people in Canada will go to the US for jobs.

[@mirzaahmed6589]

The US jobs report is BS. At that rate, there should never be unemployment in the US.

[@joanneburford6364]

And Australia added 133000, not bad for a country 1/15th the size of the US.

[@joe97nsx]

And this is while Canada is importing close to 35,000 immigrants per month.

[@kaoskronostyche9939]

I am a Canadian and I found this very illuminating and well worth watching. Thank you. Really filled in a lot of blanks in my understanding. Thanks again.

[@tommygunTW1]

Housing affordability is at its worst levels ever in Australia. Mass immigration in the last few years had reduced quality of life for citizens. Petrol at record prices, along with food and bills. A government that does nothing for its people. Crime is out of control.

[@hijazzains]

Both have property hyperinflation

[@Zagirus]

And both countries can essentially be considered Chinese colonies. That's how their governments operate, their so-called leaders cozy up to China, allowing their citizens to purchase significant portions of their lands and enabling chinese invasion due to their open border policies.

[@Zagirus]

And both countries can essentially be considered Chinese colonies. That's how their governments operate, their so-called leaders cozy up to China, allowing Chinese citizens to purchase significant portions of their lands and enabling invasion due to their open border policies.

[@craigrik2699]

The capitalist here in Australia have moved all our major manufacturing off shore because of the higher wages here in Australia. We don’t even refine our own petroleum products

[@denischarron5863]

Not yet. I think Geelong and Lytton are the last two. The others have been/will be closed or converted to import terminals.

[@noneofyourbusiness5433]

You can thank the moronic unions for that. They are too stupid to understand that they have made themselves uncompetitive. So the smart people with money go where they can make a buck and not get held to ransom by unions.

[@ACDZ123]

Get rid of the globalist government labor. Albo is the worst prime minister...vote 1 nation 🇦🇺

[@JColly_]

Capitalists?? Majority of manufacturing across the western world have moved manufacturing to third world countries. One of Australia's biggest problems is State Governments (along with Federal Gov) continue to make life hard for companies that want to invest... Governments need to stop fixing problems by raising tax revenue

[@ACDZ123]

Rudd sold Australia out to China

[@alawoye]

Very well researched and presented ( for the most part )

[@robinhooper7702]

Your perspective summery is encouraging. Canada and Australia have the potential of being a competitor. But not the top dog, but that is a good . That way one can see the others accomplishments and failures and learn...

[@theprimest]

Subbed and liked man, enjoyed watching this you've got to a video on Egypt's economy it's a hot topic with it's potential of the new capital and it's huge human capital it has potential to skyrocket but it needs to open up it's businesses. All the best man I'll catch you in the next video!

[@Ara198826]

actually they are getting bankrupt by the new capital and their currency is losing its value at alarming rates

[@EmmanuelMotelin]

Kenya’s infrastructure is anticipated to outpace that of Egypt.

[@kingsimba9513]

Indonesia is a much more interesting country to cover. They're also building a new capital and aren't on the edge of bankruptcy.

[@jedics1]

Flogging stuff we dug up most certainly is the reason Australia hasn't progressed in many ways....We have so much unexplored potential like solar and battery, we have the most sun with the most desert to put mega farms in, we have the most lithium yet just export it instead of processing and making our own batteries. We also mine our own gas yet pay some of the highest prices in the world for it still, our government basically sold the country out from under its people....So common its basically a cliche at this point.

[@user-yh2of2nz2s]

Solar and batteries for EV's are dead industries. Or at least they will be very soon when EV's go the way of the dinosaur, and people realize solar power just doesn't cut it.

[@thorinbane]

Canada same. Vested interest keep us down. This much land vs small population and vast resources, both countries should have HUGE standards of living per person, instead of all directed to the wealthy. Remember in the USA stocks are owned in this magic number 10% own 90% of stocks. This is who the government works for. Our two are similar but on a smaller scale with less wealth inequality even if our wealthy elite continue their class struggle to widen that gap against us. The average canuck or aussie is too busy fighting the guns vs gays war brought to us from the USA culture BS to notice it should be Us vs Them.

[@morfeen]

Awesome Video! Highly informative; great for my economics lessons!

[@RandallSlick]

Interesting vid. I've certainly learned a few things. FYI tertiary has a soft 't' rather than hard. Therefore sounds like ter-shery.

[@paulfri1569]

Australia is blessed to have Asia on it's doorstep and a small population..

[@frodo322]

Are you kidding, they’re invading. They’re going to take over the country in a few decades. Have you had a look around Sydney or Melbourne recently? It doesn’t look like Australia anymore. Massive migration from Asia is negative.

[@who52au]

Tell that to the Australian government ! stop try to be the " deputy Sheriff "of this Asian / Pacific region , those day are truly GONE , Australia needs Asian country , But the Asian country can live without the Australia in trades etc ...! wake up Aussie , and stands up to be a sovereignty of your own country !

[@pujanrokaya2844]

@@who52au How can Countries like Australia and Canada have sovereignty in their foreign policy ? they have already sold their soul to the Uncle Sam. just like South Korea, Japan, Germany and so on..

[@archimedes2261]

​@@who52auThe Anglo-Saxon world needs to stop this hawkish stance on countries they do alot of business with it's just not clever when US and Australia keep threatening and name calling their biggest partners like China and even Russia 😄

[@enticingmay435]

Yeah that’s why the entire country is turning into a proxy of India and China. Go to the center any cities in Australia and you’ll feel like you’re either in India or China lol

[@trails3597]

👍Lots of talk lately in Canada on productivity with elections coming in a year or so.

[@nolan4339]

Ya, a government who seems to only know how to implement additional regulatory hurdles and spend on social programs vs one who says that they'll bring down those hurdles and offer incentives to centers to streamline their systems.

[@mirzaahmed6589]

Of course productivity is low. You have millions of unskilled immigrants.

[@trails3597]

@@mirzaahmed6589Productivity comes from a willingness to take chances from people starting to work with an education and investments.

[@DashAU]

In the past 2 years in Australia immigration has been up to 600 thousand per year. Housing is up 50 percent in that time.

[@MrSpot41]

Manufacturing and innovation have not been ignored in Australia, they have been actively discouraged.

[@user-sz2ef5sc8e]

Australians are struggling to buy a home due to a massive shortage. Meanwhile the government continues to allow high immigration worsening the crisis.

[@hunantrain]

*Quick Survey:* For your shared investing ideas, what do you think will be the next Apple/Microsoft in terms of growth?

[@kentucky4494]

None!!!! considering the present unpredictable market volatility i can give over a thousand reasons why the market is a no-go especially now.

[@MichaelWeebles]

Although the market isn't so stable, it isn't as bad as some people have made it look... In all honesty, as a beginner who knows next to nothing, I have made over 80k just in a couple of months... I'm a retiree, and I am using these extra resources to help pay for odds and ends that I want.

[@donald245]

Hi Mr Micheal Weebles, from my little experience your profit margin is quite stunning for a beginner. Do you make use of spreadsheets; How did you do it; what is your biggest holding? Thanks.

[@MichaelWeebles]

NO I have never used a spreadsheet.. It's of no relevance to me... For my top holdings, I follow Kelly Marie Matwick's trading positions automatically in real-time... Look her up, she's good.

[@StratOCE]

I would look outside of tech - there are certainly lots of growth spurts still e.g. Nvidia, but it's an increasingly risky market to invest in.

[@peterweicker77]

The most important takeaway is that the flag's a few blocks from me. It's super cool.

[@Jack-It-UP]

Great reporting, thanks.

[@michaela4024]

Here in Australia we have a twentieth century economy selling coal, gas and iron ore. I can recall hearing years ago that 80% of our wheat production is exported overseas. We don't make cars any more and our uptake of electric vehicles is poor. You walk into an appliance store here and nothing is made in Australia.

[@AndoCommando1000]

Yes, but, a lot of Australian manufacturing wasn't profitable or sustainable by itself. Car manufacturing is a huge example of this. Mitsubishi (Japanese brand, but it had a huge subset of Australian manufacturing for its sedans) Ford and Holden, all needed constant government subsidies to continue. Eventually, the government got sick of subsidising effectively a failing business that was supposed to be private enterprise.

[@minuteman4199]

Another way Australia is just like Canada. There is nothing wrong with selling coal gas and iron ore if people need them. If you stop selling them, people aren't going to stop needing them, and there isn't much point doing the same things other people are doing if they already do it well enough to supply the demand.

[@craigrik2699]

Cost of living in Australia has doubled in recent years, more so here in Perth. China is our major economic partner, no other country in the world will buy the same quantities as China.

[@ashikulislamprottay9429]

Yes & that is why our nation needs to maintain a good relation with them rather than focusing on AUKUS

[@BuddyMcNugget]

Feels very similar in Canada. Housing prices have exploded here. Its totally unsustainable. People are very angry and pretty much all of our politicians are a sad joke.

[@maxwalker1159]

Great analysis!

[@thecorpooration]

One factor that would have been good to explore is the relative debt to GDP. Canada's federal debt was under $500Bln in 2008 (having paid it down from dangerous levels in 1992) and had next to zero direct exposure to the CDO's and other toxic debt from the US. However, that federal debt has ballooned to well over $1.2 Tln today and the debt to GDP is now at unsustainable levels.

[@seanlander9321]

The very big difference between Australia and Canada is that the Canadians have access to the European market. Australia has had a punitive trade embargo inflicted on it by the Europeans for generations which is a real drag on its economy.

[@paul1979uk2000]

There were talks of an EU-Australia trade deal but I think it stalled, whereas, didn't the EU and Australia sign a free trade deal a few years ago?

[@mrRobotX_x]

Great analysis! 👌 Thank You......

[@Nonamearisto]

TL;DW: Australia depends heavily on China as a market for raw materials, while Canada depends heavily on the US as a market for raw materials.

[@adamalker71]

How are you guys coping with this inflation? Even with the downturn of economy and ever increasing life standards

[@Georgina705]

Stacey Macken's strategy has been instrumental in helping me navigate the past few months. Without it, I don't think I would have made it through

[@raphfelimax2713]

Wow...I know her too she is a licensed broker and a FINRA agent she is popular in US and Canada she is really amazing woman with good skills and experience.

[@AIIG-zd5dx]

Stacey demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit

[@waynes4369]

I remember giving her my first savings $20000 and she opened a brokerage account for me it turned out to be the best thing that ever happened to me.

[@robertgreg6009]

Yes I can believed that, I got victory with her, was so sad after receiving the first pay knowing I invested so low with fear

[@gregorysagegreene]

At least Australia is warm, while Canada is cold.

[@karlosxzy]

I met a Canadian last week who said they've never felt so cold until they lived in Australia. Houses are extremely poorly constructed and insulated in Australia. We joke about them being fancy tents.

[@Obscurai]

Lived in Perth for one winter and because there was no central heating, I was constantly cold even though the temperature was never below 4C.

[@margaretreefer1145]

Australia's wildlife is really scary. I don't want to box a kangaroo or outrun a cassowary. 😅

[@BDee3126]

If you're cold, always wear multiple layers where as if you're hot, you will need air conditioning.

[@EveryoneWhoUsesThisTV]

@@karlosxzy The double brick houses of Australia are usually well enough constructed, but builders consistently fail to use double glazing on windows which undercuts all the other insulation efforts! :D I had to retrofit window insulation, otherwise I'd end up using the AC or fireplace for much of the year. Most US houses are made of matchsticks, but insulation and double glazing can make them liveable.

[@user-gd4wt6oi7y]

Though products commodities markets workd wide are saturated, so what remains? In creating labor, new revenue ways, ..its restructuring of entire civic municipal systems of the world, from creating all of it in unison creats such overwhelming amount of labor not to mention companies handling those new with all sorts of materials required new revenue avenues.

[@Jazzafritsch]

For telecommunications, Australia only really has a single company, Telstra, who own the majority of the infrastructure, the other telecom companies buy access to telstras network basically rebranding the same infrastructure

[@studlyhungwell]

Homes in Canada are significantly more comfortable than Australian homes. The dry colder weather and snow make a nice break from hot weather. 😂

[@lachlanaulich3566]

except you have the option to live in hot or cold weather mate, get a grip on our bloody geography

[@studlyhungwell]

@@lachlanaulich3566 your response makes no sense. Typical incoherent bogan. 🙄

[@guybeauregard]

Given how expensive they are, I hope those homes are indeed "comfortable"!

[@tacitdionysus3220]

Australia is a federation of STATES which were (before federation) and still remain sovereign in their own right, with the Australian Constitution indicating which powers of government (like defence, customs, etc.) the states granted to the national government when forming the Commonwealth of Australia. The feds have NO jurisdiction over states in powers that were not transferred. Canada is different. It has PROVINCES in which the national constitution indicates which powers of government are granted to the provinces under a co-sovereignty arrangement. So they are not the same. Indeed, the relationship between Australian states and Canadian provinces to their national legislatures is almost the opposite. Australia is closer to the USA model in the relationship of its states to the federal government than Canada. This US influence in its constitution is also reflected in the Australian Parliament having a House of Representatives and a Senate - whereas Canada has a House of Commons (as in the UK) and a Senate.

[@archimedes2261]

Our system of government and judicial in Canada is more closely related to the UK and Western Europe rather than USA.

[@tacitdionysus3220]

@@archimedes2261 Indeed. Apart from the relationship between national government and their states / provinces, both Canada and Australia use the same Westminster system, responsible government and separate judicial system. The Australian Constitution also has Swiss influence (referendums for changing the constitution), and according to a presentation by a retiring High Court (equivalent to USA Supreme Court) some unstated Vatican influence (Rerum Novarum encyclical - and having federal powers of Conciliation and Arbitration - creating a happier relationship between labour and capital than in the USA, and making the large Irish Catholic minority less suspicious of federation resulting in an Upper House of elites) When returning from the UK to negotiate the constitution, the 'founding fathers" visited the American jurist Oliver Wendell Holmes, and basically asked "What would you do differently with your constitution in retrospect". This seems to have resulted in Senators being elected directly by the people. The USA changed from their states governments selecting senators to this system later, but Australia had it from day one.

[@Tom_Hadler]

​@@tacitdionysus3220 yours is a complicated comment for me to parse. You clearly know your stuff. One thing that interests me is how you mention a better relationship between capital and labour. Can you elaborate on that aspect? I think that balance is the key to success for civilisation. Too much power for capital (as we surely have now) and the incentives to work are reduced. Too much easy money for a parasitic class. Too high labour costs and I guess nobody invests in long term things? Or wealth cannot be stored? Be interesting to see what the world would be like with different balances. Of course in the real world, we have externalities such as foreign nations with cheaper labour costs for example.

[@tacitdionysus3220]

@@Tom_Hadler Thanks for the question. It's not a simple matter and I might be better to point you at articles about it than try to explain it in detail (which is also beyond my expertise - as my involvement was basically in teaching what most places call 'civics' to senior managers.) The Australian Constitution, Section 51 outlines the powers granted to the feds. Clause xxxv grants Powers of Conciliation (providing impartial professional support to parties in dispute) and Arbitration (having an independent person resolve the dispute with that resolution being legally binding). The latter is to be applied when the former fails to resolve the matter. The upshot is that it results in a C and A court to provide help for parties to resolve industrial disputes, with the realisation that if they don't resolve it between themselves, it may be resolved by a legally binding court decision. "One Hundred Years of the Conciliation and Arbitration Power: A Province Lost?" (University of Melbourne Law Review) by Breen Creighton - is not a bad paper to get an overall history and understanding of these powers and their implications. Suggest search for it and have a read. Keep in mind the period in which this was all done (1890's with federation in 1901). Marxism is arising and Lessez Faire capitalism was rife. It was an environment in which industrial disputes often turned very nasty. As an example, the Australian song 'Waltzing Matilda' is inspired by one of several violent events during the Great Shearers Strike in the 1890s. If you are American, think of the era of Teddy Roosevelt and his concept of the 'square deal' as something similar. It is, however, nothing like the revolutionary era in the USA, with its Lockean influences, deep discussions and compromises, and emphasis on rights. A name that will occur in connection with these powers is Henry Higgins - He lobbies for religious freedom and the C&A powers to be included in the constitution and later heads the A&C Court. He is Northen Irish and protestant in background, and acutely aware of the religious tensions between Catholics and Protestants, and does both of those things to defuse Catholic anxieties about the Constitution and respect their involvement in the labour movement. As if to underline the above, he makes a landmark A&C judgement later during the 'Harvester Case' in 1906 which effectively establishes the concept of a 'living wage' for employees, based on what they need for a basic frugal existence (subsequently moderated with industry's capacity to pay). Startlingly, Higgins quotes (though doesn't acknowledge) Pope Leo XIII's 1891 encyclical Rerum Novarum, an open letter to all bishops that addressed the condition of the working classes. The wikipedia articles on 'Henry Higgins' and the 'Harvester Case' are not bad overviews. It's not a perfect system by any means, but has created a more amicable industrial relations environment than in many places, underpinned with a 'vibe' of mutual fairness and justice (many Australians will know 'the vibe" reference from the film "The Castle", based around another Clause (xxxi) of Section 51 which is about "acquisition of property (by the feds) being on just terms", regardless of who you are. I hope that gives some answers you are seeking. If not, give me some specific queries and I'll see what further things I can point you at.

[@Beeblebrox6868]

A crucial differentiating factor is when the two nations became federated in their current form. Canada's constitutional system dates from 1867, whereas Australia waited until 1901. The influence of the UK was strong in both cases but in the case of Australia the progress of certain legal and constitutional concepts had started to shake off the older style British approach.

[@wattlebough]

The Australian annual immigration figure of 160,000 is out of date by a lot. In 2022 Australia received 387,000 net migrants in to the country. Australia is on track to receive 600,000 migrants in to a population of only 27 million this year. That’s a 2.2% boost to the population through immigration alone in only 12 months minus natural birth increase.

[@neilwilliams929]

To be fair to the fact checkers of this video .Things have change .although I don't disput your statics .I can't argue those figures.

[@makattak88]

Using the Australian amphitheater is an hilarious visual. It was and is an architectural marvel but it’s the only thing anyone can reference when it comes to Australia. And considering Aus is Chinas resource, there’s a reason they are doing so well. China likes to spend money.

[@ronjcharity]

Have Been to Australia several times and was offered a job there. Have also worked across the USA and Europe. For Aus, Cost of living was a concern at the time, can’t imagine now. Canada is now a depressing place to live. Cost of living, weather and aggressive / predatory taxation. I regret not moving to US when I had the chance. Better jobs, more money, better weather and you can carry.

[@EmmanuelMotelin]

Proud that we dont have to live in fear while grocery shopping unlike the lawlessness down there in America. Canadians don`t also need to worry about bankcruptcy when they visit the doctor.

[@4spooky8u]

@@EmmanuelMotelinif you can find a doctor or don’t end up dead in the waiting room first.

[@ronjcharity]

@@EmmanuelMotelin keep an eye on bankruptcy, crime, taxation and job loss next year or so.

[@EmmanuelMotelin]

​@@4spooky8u I’ve personally never encountered any problems even when visiting a walk-in clinic. While I understand that specialized surgeries may require different considerations, severe cases tend to receive priority. It’s hard for me to deny my privilege when I observe Americans burdened with debt due to minor doctor visits. Compared to the USA, we are in a much better position, although I’m sure someone will find a negative aspect to highlight.

[@mharley3791]

@@EmmanuelMotelinthat depends on where you live in the US! People think the US is still in 2005, when the reality is healthcare has changed a lot in the United States. If you live in California, New York, Massachusetts, you will be fine. If you live in Mississippi, or Alabama, you probably won’t be fine. It really depends!

[@HalOBrien]

Nowhere do you mention the rise of Canada in entertainment production. In the same way everyplace on TV used to look like somewhere near LA, everyplace on TV now looks like somewhere in British Columbia. That may be only significant for Vancouver, and not for Canada as a whole, but since you mention IP, it may be worth mentioning.

[@MrTaylor1964]

Australia also leads in film and tv production for international markets. Disney (Fox) studios in Sydney, along with studios in Queensland and Victoria. Recently ‘Fall Guy’ as an example

[@TheFirefox]

Good summary. I’d argue that one of the biggest headwinds to export-focused countries like Australia and Canada is the increasing likelihood of globalization reversing. The high economic growth enjoyed in our countries over the past ~30 years has largely been driven by ever-expanding trade to places like China. With the world getting more antagonistic and signs of new fractures emerging, it’s increasingly likely that the future will not be as lucrative. While this will impact all countries of the world, countries that rely more heavily on exports (such as Canada and Australia) will be impacted more than countries that have economies driven by huge domestic markets and technology (e.g. the U.S.).

[@user-xq1wz3tp5z]

I'd expect that growing world population, and China's example of economic growth, would point toward increasing demand for minerals, energy, and habitat for migrant workers....

[@TheFirefox]

@@user-xq1wz3tp5z There will still be a large global market but it won’t be as efficient or free as it has been for the past 30 years. And thus, less economically lucrative for everyone (especially export-focused economies). With respect to China, that’s part of the problem. Instead of previous Chinese governments prioritizing expanding trade and economic ties, the Xi regime seems to be more focused on geopolitical power moves. Which serve no one in the long run. If world leaders keep acting like they are playing a zero-sum board game, we’re all going to lose.

[@bladehartman4993]

I am Canadian, and I agree with this video.

[@sharpy3453]

one issue with canada, canada could be an economic power house if our resources were managed properly. but governments, alot of the times liberal ideologies, have hamstrung the oil and gas industry.

[@normanwells2755]

One advantage Australia has there is that every state has a coast (ice free too) and no other state can land lock it as BC and Quebec have done to oil and gas. Also, the Labor Party has unionized mine workers supporting them so it would be unlikely they would destroy such resource industries.

[@AnAn___]

Australia is also well positioned to benefit from the (Asia - China) economic boom.

[@chenchugarilakshmiprasanna1669]

How will that help?will you please elaborate?.I might be asking a basic question,but please will you elaborate?

[@AnAn___]

@@chenchugarilakshmiprasanna1669 Many other countries in Asia are also economically booming. Australia should fasten her sails to these other Asian economies too. Using Asian Australians to achieve this. Do you see Australia being able to leverage relations with Asian countries and Asian Australians to boost her tech sector? Most Asian countries have booming tech sectors.

[@mgp1203]

@@chenchugarilakshmiprasanna1669 lots of Asian investment into Australia

[@toni4729]

China have been feeding off Australia and getting very very rich off us for the past fifty years. Now they've got to the top. The rest of the world are going down fast. Now, they're selling to us. China stole our goods, our ideas and made fakes of everything we held valuable and sold them all back to us cheap. This is how they got rich.

[@Tudor-jf9in]

@@AnAn___ it is difficulty

[@jacqueshuot3684]

I would be interested is a comparison of defence spending in Canada and Australia

[@tmorid3]

13:17 how can you compare US, Canada, and Australia without using PPP? It doesn't say anything if prices in the US are cheaper than the ones in Canada and Australia

[@alvarotorres9057]

USA #1 🇺🇸 🇺🇸

[@basshunterdota625]

These are both less innovative countries and lack many tech companies .

[@ausbrum]

Well, you COULD look at the massive agricultural market Australia has in Asia, its wine market (in China alone), it's education market. But, heck, let's stick to cliches, shall we?

[@kingsimba9513]

Wait till he finds out that mining is only 14% of the country's GDP. But I guess a 2 second internet search is just too hard for some people.

[@MrTaylor1964]

The LNP killed the wine market in China, it’s not back to original levels…..yet

[@kurootsuki3326]

i mean lets not bring up the education market anymore lol scomo messed that up

[@Vk_2320]

You content is awesome 👍

[@kiwiAdventure100]

Excellent analysis. New Zealand has same situation but worse outcomes. Large banks here (aussie owned) gouge consumers and are more profitable than in in Australia. The same with the supermarkets. Lack of competition and regulation in a tiny market. Our economy is a farm that people like to visit.(tourism and cows). With a domestic asset class over indexed in unaffordable residential property. Productivity is low compared to OECD countries with an over reliance on cheap labour which has fueled migration and put massive pressure on infrastructure which successive governments have failed to invest in. This week migration numbers showed we are losing net over a 1,000 people a week - most going to Australia.

[@joaopedrodantas2147]

The Brazilian economy is nearly identical to the Canadian and Australian, the biggest diference is Brazil has a bigger consumer market and a more consolidated macro ecnomy, what make in a long run our economy more interesting to invest, but if we had a population close to the Australian and Canadian one, our pruditivity would possibly even grow what would make Brazil in many social economic scales close to those countries

[@paulbadics3500]

Yea but that huge population with similar GDP means Brazils per capita income & living standard far lower

[@fyshi6226]

1:30 No way my hometown got mentioned in a video, 95% of Aussies don't know it exists its so small

[@dawsondanny990]

It is a government inspired crisis this time. The Treasury have to sell Bonds to cover the trade imbalance and the government spending imbalance. In order to sell them they have to raise interest rates and the old long-term, low risk, low interest, AAA investments (including Treasury Bonds), held by the banks (often due to government regulatory policy), become next to worthless. The next milestone is the 15th when the government issue a new batch of Bonds. I have approximately 350k stagnant in my portfolio that needs growth. What is the best way to take advantage of this downturn?

[@Astar-AoK]

I love the commentary, I'm surprised that this wasn't loud during the Brexit in 2016, I dislike when we who are learned know this but allow stupidity to win the battles😢 why?

[@widodoakrom3938]

Interesting

[@Jkl62200]

Australians are far more 'international' than Canadians. They don't have the US just across the border as a ready market and had to travel far and wide instead.

[@icebaby6714]

Aussie, Aussie, Aussie, Oi, Oi, Oi!

[@helloworld6126]

International to our Aussie is Bali in Indonesia. 😂

[@Jkl62200]

@@helloworld6126 don't forget Koh Samui, Pattaya too. Lol

[@icebaby6714]

@@helloworld6126 plus Thailand, Malaysia, Singapore, Vietnam and India. Although Australia is a far away from the rest of the world but comparing to Canada it is very “near” Asia especially Southeast Asia and Aussies are well travelled. Many Canadians have never left their country, for the most they visit the U.S. and Mexico…they have no idea what Australia and other parts of the world look like.

[@icebaby6714]

@@Jkl62200 All the best parts for short holiday

[@daniellydford6142]

One issue I didn't hear addressed in the video is interprovincial trade barriers in Canada. Our system is set up that most of the governing is done at the provincial level, but that also means we get 13 different set of regulations which is a complication for anyone with a skill looking to move from one part of the country to another, and an added expense for any company looking to expand outside of the province/territory where it started. I'm not sure how Australia deals with these issues, and whether they have similar problems between the various states.

[@kurootsuki3326]

From my understanding we have far fewer barriers between states, except for regulations relating to disease e.g. biosecurity measures for tasmania. Our regulations are largely that the federal government can't control certain aspects of state's functioning due to the way Australia was founded, but increasingly we are moving toward federal approaches atleast in healthcare context that I work within because it's just far more efficient.

[@MyNamesHunter75]

Canada makes most things needlessly complicated and process take far longer than they should part of the housing issue is because we accept to many immigrants but also because zoning laws are terrible, people in charge of approving plans for housing also take forever far longer than they should it slows everything down, all the barriers Canada has in place feel more like a way to slow down actual growth then to let it flourish. Canada should be better off than it is

[@jeffersonmobbs9010]

Issues with the video: 1. although the mining companies in Australia generate a large portion of GDP, they employ relatively few people (about 2% of the workforce according to the ABS in Feb 2023). Decreases in production or exploration have very little effect on Australian employment figures. 2. All mining companies pay negligible income tax due to accounting procedures to transfer profits overseas through “loan repayments” to related companies. Some states such as Queensland recoup some of the tax avoidance by charging coal royalties, but the vast majority of profit from mining does not contribute to the economy of Australia even though it is included as our GDP. 3. I disagree that there are significant barriers to foreign investment in Australia. Residential real estate foreign purchases annually are about $4.2 billion. 14% of agricultural land is wholly foreign owned. There is a FIRB but this is simply a formality rather than an obstacle.

[@ramkumarsharma6331]

I kinda feel bad for Jordan. It's so unlucky as it does not have large reserves of oil and gas. Jordan doesn't have too much water either. If Jordan had large oil and gas reserves, they could have been as developed as it's other Middle Eastern counterparts. Hopefully, they will find some energy resources in the future.

[@rizkyadiyanto7922]

we dont need another saudi, UAE, qatar, etc.

[@ramkumarsharma6331]

@@rizkyadiyanto7922 Why not? Don't the Jordanians deserve a good quality of life?

[@SwingingOrangutan]

​@@ramkumarsharma6331not if they don't convert to the objectively best religion in the world.

[@ramkumarsharma6331]

@@SwingingOrangutan What?

[@SwingingOrangutan]

@@ramkumarsharma6331 Islam is a stain on this world.

[@2GringosOnTheGulf]

We left Canada 2021 and could not be happier here in Mexico and wish everyone all the best trying to leave wherever you are. Great vid friend. ✌🏽💖

[@manikkalore1630]

Quality content ! Congratulations on a great job.

[@teawithtams6596]

please tell me the chart in 10:36 is not real, it's giving me so much anxiety as a Canadian.

[@-vv3rv]

How do most of you guys still making profit? Even with the downturn of economy and ever increasing life standards

[@ReedMyresDavid]

Well, I picked the challenge to put my finances in order. Then I invested in cryptocurrency and stocks, through the assistance of my discretionary fund manager

[@ReedMyresDavid]

Mrs Nancy Williams Laplace

[@Petch20]

Yeah that's right I think it's right to invest with professional at least it saves the trauma of too much loses

[@Jamiewhite663]

The first step to successful investment is figuring your goals and risk tolerance either on your own or with the help of a financial professional but it's very advisable you make use of professional

[@SC-4rqub]

I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $21k passively by just investing through an advisor, and I don't have to do much work. Inflation or no inflation, my finances remain secure. So I really don't blame people who panic.

[@1bhaihay]

Great that they have vast natural resources, perhaps they should develop manufacturing industries as well & export goods.

[@renostrano5842]

What's the difference b/w a Canadian and Australian? About 20 degrees Celsius. :)

[@guybeauregard]

Could be significant with climate change and diminishing fresh water supplies. More heat is not always better!

[@moonwater5116]

Canada should make a policy that if your business is under 5 billion MC they dont pay tax

[@WildDisease72]

Yes.. standing by to incorporate business for tax savings 🙏