Here is a look at what is making news around the country today.
Today’s national news includes Australia’s population growing by 660,000 last year, Australia’s iron ore wasting away at Chinese ports, Australia supporting the US testing of hypersonic missiles, and Menzies Research Centre saying big tech companies seem to have “no allegiance” to Australia.
Nation
The population grew by 660,000 people in 2023
The statistics from September showed that 550,000 of those were new migrants, and our population is now growing by 2.52 per cent, 10play.com has reported. The current rapid growth follows a pandemic-prompted crash, with the country’s migration figures going backwards at one point, with 94,000 leaving in 2021. However, 660,000 new people arriving amid a housing crisis have many worries. The boom comes as housing construction crashes to a 10-year low, and rents have risen 38 per cent since the pandemic’s start.
Economy
Iron ore languishes at Chinese ports
Australia’s economic landscape is facing a critical juncture as signs of stagnation emerge from Chinese ports, signalling trouble ahead for the nation reliant on commodity exports, ticker news reports. Shadow Treasurer Angus Taylor highlighted the government’s dependence on windfall gains from commodity exports as a substitute for effective budget management. While Australia’s mineral-rich landscape assures a constant demand for its commodities, particularly iron ore and coking coal, the recent trends at Chinese ports pose a cause for concern. A hypothetical shift towards consumer-focused growth strategies in China could spell trouble for Australian exports heavily reliant on traditional construction-driven stimulus.
https://tickernews.co/alarm-bells-for-australia-as-iron-ore-languishes-at-chinese-ports/
Defence
Australia supports the US to conduct hypersonic missile test
Australia has collaborated with the United States to conduct a missile test in Hawaii, just days after Taiwan launched air defence drills on its own coastline, news.com has reported. On March 28, an advanced medium-range ballistic missile target was launched from a US facility in Kauai to test the Aegis combat system, which both the Australian and US navies use to detect incoming enemy missiles. Military officials said the successful detection and interception of the missile was the most complex test made against a priority target threat to date.
Business
Giant tech businesses have ‘no allegiance’ to Australia
Menzies Research Centre’s Nick Cater says big tech companies seem to have “no allegiance” to Australia, SkyNews reported. Mr Cater pointed out how companies like Apple and Meta get taxed in Australia are now being analysed by the government. “Which is fine, except that when it comes to the political debate, of course, they want to buy right into it,” he said. “They’ll take one side in the Voice debate, for instance, or the transgender debate, and they’ll take people off if they disagree with that view. Well, you can’t have it both ways.”
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