A new survey by YouGov has found 88 percent of Australians think the nation should rely on homemade goods because it is too dependent on Chinese imports as Australia is plunged into deep recession. While a 98 per cent of older respondents said they wanted to see a boost to local manufacturing in the wake of the COVID-19 pandemic.
Australian Workers Union national secretary Daniel Walton told Herald Sun: “Now more than ever Australians want to be making our essential products here.
“We don’t want to be reliant on China.”
Express.co.uk is asking whether the UK should follow Australia’s lead and consider boycotting Chinese products to support local industries?
Australia is considering boycotting Chinese imports
The YouGov poll also found that 70 percent of Australians said they have become more conscious of homemade products when shopping in the wake of the coronavirus pandemic.
It comes as Australia plunged in to its first recession in three decades as entire business sectors were shut down to fight the coronavirus.
Shock figures from the Australian Bureau of Statistics (ABS) showed the A$ 2 trillion ($ 1.39 trillion) economy contracted 0.3 percent in the quarter ended March, the first decline in nine years.
Australians want to focus on homegrown produce
That took the annual growth to 1.4 percent, the slowest since the 2009 global financial crisis, as the economy was hit by the worst bushfire season in living memory, a prolonged drought and a pandemic that shut down businesses and left many without jobs.
Australia’s gross domestic product is expected to fall even more sharply in the current quarter.
Two consecutive quarters of contraction would mean Australia would suffer its first technical recession since the early 1990s, ending one of the world’s longest growth streaks.
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Australians have said they want to see a boost to local manufacturing in the wake of the COVID-19 pandemic
Should the UK should follow Australia’s lead and consider boycotting Chinese products to support local industries?
Household consumption was the biggest drag on growth last quarter with massive falls in spending on clothing, cars, transport, recreation, hotels, cafe and restaurant.
Net exports and government spending supported the economy in the quarter.
The central bank stepped in by cutting the cash rate to a record low 0.25 percent and launching an unlimited bond buying programme.
Global coronavirus stats
The government, meanwhile, unleashed a large fiscal stimulus plan, including a A$ 60 billion wage subsidy scheme.
The Reserve Bank of Australia (RBA) has recently sounded less gloomy about the economy even though the country is in the midst of its worst downturn since the Great Depression as better health outcomes led to an earlier-than-expected re-opening of businesses.
NAB economist Kaixin Owyong wrote in a note. “The pandemic will produce a giant fall in activity in Q2, before a recovery begins in Q3.
“However, a full recovery is some time away as there is no timetable for the reopening the border to allow international tourism and foreign students.
“Full recovery will also require confidence in health and economic outcomes to be restored, where households may remain cautious for some time given record job losses and with the labour market historically lagging recovery in activity.”