Two interesting things in last Sunday's episode. First, this commentary on free trade agreements:
The Australia-America freed trade agreement signed in 2005 is a classic example of how hype rarely matches reality.And second, this fascinating story (you must watch the video) about cave diving beneath farms in South Australia. Wish I could embed the video...
Australia was promised an el-dorado - but as far as benefits go, we've ended up in that well-known proverbial street.
The figures don't lie - the bilateral trade gap between the United States and Australia continues to grow - in America's favour.
American goods exports to Australia in 2013 - 26 billion dollars - Australia's exports to the U.S. - 9.3 billion.
So the lesson is - when politicians talk about the Australia-China free trade agreement meaning an 18 billion dollar boost over ten years - take that advice with a cupful of salt - and remember what was said about the deal with America.
However, on the plus side - farmers and graziers should be happy - in fact Chinese dairy farmers are said to be very unhappy - which can only be a good thing for our dairy farmers.