The G20 is the new the G8

[JWFrogen]

I agree it is good that Australia has a significant place at the table and the Europeans and US seem every interested in how well we have weathered the financial storm but do not overestimate our influence.

True, the US and Australia have like minded governments right now and Obama in particular seems interested in Australian economic policy (though given the way he has botched his healthcare reforms he should have been looking to Australia for that first) but the emerging economic power China cares about Australia for one reason and one reason only, resources. All those expensive rocks we have that they need. And China is willing to play hardball to affect how she gets them, as in the recent arrest of Rio Tinto officials.

Which brings up another point, we are lucky we have all this expensive rocks and gas which is the driving engine of our economy but we do need to take the revenue from that and diversify our economy in quick time, be creative and think of industries that can thrive in Australia whose products will be in demand world wide, such as becoming a bio tech and IT leader. Although I think China will be demanding our luck into the middle part of this century we need to plan for the long term, China will not be this resource hungry forever.

[Jovial Monk]

I can't argue with a thing you said there, Froges.