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by ben_w 7 days ago
> What about Africa and the rest of Asia? Surely they merit mention more than Australia?

This isn't a term paper, I'm just giving illustrations from a handful of places to demonstrate how comparative advantage works.

And sure, other Asian nations are significant (India: Petroleum; Japan: Cars; South Korea: Integrated circuits; Taiwan's defence policy is making TSMC too important to be allowed to be invaded).

But Africa? No. The continent's exports are mostly dominated by South Africa, which is about one third of Australia's; even in aggregate, the entire continent's exports are only at about the level of Canada's.

> Also, Australia's number one export are Hollywood actors.

Australia's three largest exports are iron ore, coal, and education: https://en.wikipedia.org/wiki/List_of_exports_of_Australia