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Australia is choosing protectionism over global economics



In a paradigm shift in global economic strategy, nations are increasingly prioritising protectionist measures to safeguard their industrial base and economic sovereignty.

Australian Prime Minister Alex Ellinghausen has explained this trend, asserting that protectionism is not a retreat from global markets but rather a response to the evolving landscape of economic competition.

Addressing the Queensland Press Club in a pre-budget speech, Ellinghausen highlighted the proactive measures being taken by Australia and like-minded nations, including the United States, Canada, Korea, Japan, and the European Union.

These countries are implementing schemes akin to Industrial Regional Advantage (IRA) strategies to bolster their manufacturing capabilities and economic resilience.

Central to this approach is the recognition that market forces alone cannot ensure national prosperity and security.

Governments are increasingly intervening in their economies to promote domestic manufacturing, innovation, and self-reliance.

Australian Prime Minister Anthony Albanese.

Global stage

This marks a departure from traditional laissez-faire policies and underscores the growing importance of economic protectionism on the global stage.

As part of Australia’s strategic agenda, Ellinghausen announced plans to introduce the “Future Made in Australia Act,” consolidating existing and new policies aimed at promoting domestic manufacturing.

Under this Act, initiatives such as the National Reconstruction Fund, skills agenda, clean energy manufacturing incentives, and support for solar panel production will be streamlined to drive economic growth and resilience.

The move towards protectionism is not without its challenges and criticisms.

Critics argue that domestic manufacturing may struggle to compete with cheaper imports, particularly from countries like China.

However, proponents argue that the long-term benefits of self-reliance and economic sovereignty outweigh short-term cost considerations.

Internationally, the United States has also voiced concerns about unfair trade practices, particularly in industries like solar panel manufacturing.

Treasury Secretary Janet Yellen recently confronted China over its industrial overcapacity and called for measures to protect global markets from distortions caused by cheap imports.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Leading podcast cuts through finance commentary noise



With so much financial commentary out there, how do you find clarity?

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark is joined by host of ‘This Is Money’ Podcast, Glen James. #wyld money #trending

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Will slashing immigration curb the housing crisis?



The Australian Coalition has revealed its strategy to tackle the housing crisis by reducing migration numbers.

Opposition Leader Peter Dutton’s proposal to cut immigration by a quarter aims to tackle the housing crisis but has been met with skepticism for overlooking deeper structural issues.

Mark Wyld from MW Wealth joins to discuss. #trending #featured #wyld money

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Apple Music’s controversial top 10 albums of all time



Apple Music has released its highly anticipated “100 Best Albums of All Time” list, with the top 10 rankings causing a bittersweet symphony of destruction for some music lovers.

The list was curated by a panel of experts and based on various factors including cultural impact, critical acclaim, and commercial success, with the aim to celebrate the most influential and timeless albums across genres.

As reported by the official Apple Music Newsroom blog post, the top ten best albums of all time are the following:

10. Lemonade (2016), Beyoncé

9. Nevermind (1991), Nirvana 

8. Back to Black (2006), Amy Winehouse

7. good kid, m.A.A.d city (2012), Kendrick Lamar

6. Songs in the Key of Life (1976), Stevie Wonder

5. Blonde (2016), Frank Ocean

4. Purple Rain (1984), Prince & The Revolution

3. Abbey Road (1969), The Beatles

2. Thriller (1982), Michael Jackson

1. The Miseducation of Lauryn Hill (1998), Lauryn Hill

In other news, Apple recently became the first company to hit a $3 trillion stock market value, before falling just below that milestone, as reported by Reuters.

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