Redundancy - do we have it in Western Australia?

In an increasingly volatile world, we may want to consider our fate under various unpleasant scenarios -

  • Global weather patterns are severely disrupted by a 'tipping point'. Food shortages across the globe drive up prices significantly ....like 500%.
  • Chinese and Indian consumers cannot soak up the demand left by a burnt out, over weight Western baby boomer generation quickly enough. Global productive capacity is significantly excessive. Productive capacity is shut down rapidly, demand for our raw materials subsides significantly and mineral prices slump leading to the inevitable demise of our resource based economy.
  • A global full scale conflict erupts with multiple pressure points including the Middle East, Eastern Europe, Taiwan and the Korea?s. Global sea traffic is severely disrupted & demand for our raw materials slumps.

There are probably many more 'black swans' sitting out on the horizon or in the words of Donald Rumsfeld, 'unknown unknowns'.

Here are a range of redundancy strategies -

  • supporting certain less competitive industries on a small scale so that at least we had the option of rebuilding those industries in the event that we were struck by a 'black swan' event and could not rely on the produce of an external supplier
  • encouraging a range of agricultural product to be grown locally
  • protecting our environment from degradation and ensuring that fish and other natural resources are over harvested
  • developing smart, efficient energy and transport systems
  • educating on the benefit of minimising use of CO2 based resources and H2O resources

Posted by: Andrew
Company: Noble & Associates
Phone: 61894007400
Posted On: 1/1/0001
Contact via email: andrew@nobleaccounting.com.au
Categories: Climate Change | Energy
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