Offshoring an Issue for Australia

Australian manufacturers are set to send about 30,000 jobs offshore in the next 12 months as global pressures intensify.

A new survey of 800 manufacturers and 200 corporate chiefs by the Australian Industry Group has found the amount of activity conducted by Australian businesses offshore is set to rise from 15 per cent to 25 per cent over the next year.

The high exchange rate and the rise of China as an economic powerhouse are adding pressure to businesses already facing pain from falling prices and market share.

More here.