Comments by "Valen Ron" (@valenrn8657) on "NBN being 'absolutely smashed' by Elon Musk's Starlink satellite service" video.
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@DanielSMatthews That's a false narrative.
In terms of industrial strength, Australia is not even half of South Korea. Stop playing with distractions like the arts and sports.
Australia has about half of South Korea's population.
South Korea has technology conglomerate titans like LG Electronics, Samsung Group, Hyundai Group (Hyundai Heavy Industries, Hyundai Motor Group, Hyundai Engineering & Construction, Hyundai Mobis), SK Group (SK Hynix, SK Telecom, SK Innovation), Hanwha Group and 'etc'.
As of 2023, Hyundai Group "includes divisions that build and export diesel and electric locomotives, freight cars, and passenger coaches for the railroad industry, and offshore drilling and extraction equipment to the oil industry." Hyundai's international exports range from heavy industrial equipment to consumer products and include cement, pianos, military uniforms, and consumer electronics products.
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@DanielSMatthews Australia (26.1 million population, 2022) should be compared to South Korea (51.6 million population, 2022)
SK = $1.811 trillion USD (2021)
AU = $1.553 trillion USD (2021)
The South Koreans are giving Elon Musk a headache.
Why is Australia's GDP so high?
Australia's US$7.3 trillion financial sector includes the world's fifth-largest pool of pension assets.
From GPAS__2021 pdf
Pension (mandated nanny state saving funds) vs GDP ratio for 2021
Five Eyes/Five Passport Group,
Australia, $2,333 billion, 174.8% (CPTPP member, Nordic model),
Canada, $3,080 billion, 192.5% (USMCA, CPTPP member, Nordic model)
United Kingdom, $3,564 billion, 135.1% (CPTPP member in July 2023, Nordic model)
United States, $32,567 billion, 156.5% (USMCA member)
(I don't have data for NZ)
Notice the Five Eyes group has similar pension assets to GDP ratio results
Large-scale mandated savings funds enable the government to issue government bonds and large-scale bond buyer markets!
EU
Finland, $279 billion, 104.3% (Nordic model)
France, $166 billion, 6.5%
Germany, $548 billion, 14.5%
Italy, $231 billion, 12.5% <----- PIIGS
Netherlands, $1,900 billion, 214.4%, (Nordic model)
Ireland, $197 billion, 49.4% <----- PIIGS
Spain, $44 billion, 3.6% <----- PIIGS
The EU lacks strategic savings coordination.
Non-EU, Europe
Switzerland, $1,163 billion, 164.3% (Nordic model)
North America
Mexico, $259 billion, 24.9% (USMCA, CPTPP member,)
Canada, $3,080 billion, 192.5% (USMCA, CPTPP member, Nordic model)
United States, $32,567 billion, 156.5% (USMCA member)
South America
Brazil, $195 billion,14.3%
Chile, $243 billion, 99.2% (CPTPP member)
East Asia, South East Asia
China, $285 billion, 1.9%
Hong Kong, $199 billion, 58.3%
Japan, $3,613 billion, 73.6% (CPTPP member)
South Korea, $968 billion, 61.0%
Malaysia, $279 billion, 83.0% (CPTPP member)
South-Central Asia
India, $184 billion, 7.1%
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