In Australia, retail and hospitality workers have been particularly hard hit. In other countries, it’s manufacturing workers, hit by disruptions to value and supply chains.
Australia won’t be the same post-coronavirus, but parts of the picture are falling into place. One concerns our approach to trade. It’ll be a reset, not a rejection.
Change, a 1985 paper argued, can be characterised as a “punctuated equilibrium”: long periods of relative calm and small incremental alterations that are interrupted by brief, but radical, seismic shifts. COVID-19 means that we are now living through one of those revolutionary moments.
A “matchmaking platform” originally developed for manufacturers and others to respond to the Covid-19 outbreak has been expanded, with a goal to “continue to provide solutions long after this pandemic.”
Sydney should be prepared to “pick winners” to take advantage of a new interest by multinationals in shifting manufacturing to advanced economies.
Lion has announced an increase in efforts to become carbon neutral, made public in November, with a goal of 100 per cent renewable energy powering its breweries by 2025, and initiating a “whole brewery” carbon reduction approach throughout the company and its supply chain.
An event between the Australian and New Zealand defence forces this weekend, titled #ANZDFhack, will focus on novel solutions aimed at strengthening sovereign capability.
Beyond travel, a trans-Tasman bubble is an opportunity for Australia and NZ to reduce dependence on China
The COVID-19 crisis has thrown Australian and New Zealand businesses’ dependence on China into stark relief. With countries reportedly competing with and undercutting each other to secure desperately needed medical supplies from China, many are now waking up to their economic exposure to a single manufacturing giant.
India can explore synergies with Australia in advanced manufacturing as part of ‘Make in India 2.0’ (which includes segments such as robotics, genomics, chemical feedstock and electrical storage).
The Australian Manufacturing Forum and @AuManufacturing’s campaign to crowd source a new deal plan for manufacturing post Covid-19 has taken in a broad range of perspectives. Here Scott Blakemore looks at SME leadership, reminding us that manufacturers can do a better job of being better prepared for the future.