The landmark National Reconstruction Fund is a significant achievement for the Albanese government. But since it was unveiled, the goalposts have shifted dramatically and it is no longer enough. Not by a long shot.
While the US and the Europeans and even Canada have raced ahead with whole-of-economy initiatives to re-invigorate industry, build domestic capability, and bolster critical supply chains, Australia has not.
These massive investments being made by like-minded countries around the world into reindustrialisation programs are a direct response to changed geostrategic circumstances around the world.
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