uring ▁cap ability . ▁The ▁after math ▁of ▁war ▁provided ▁opportun ities ▁to ▁rec ruit ▁sk illed ▁workers ▁from ▁Europe ▁and ▁Australia ▁was ▁able ▁to ▁establish ▁capacity ▁behind ▁the ▁protection ▁of ▁a ▁tar iff ▁wall . ▁It ▁became ▁obvious ▁that ▁this ▁wall ▁had ▁to ▁be ▁reduced ▁but ▁the ▁rate ▁of ▁reduction ▁ran ▁well ▁ahead ▁of ▁Australia ' s ▁increasing ▁ability ▁to ▁comp ete ▁in ▁a ▁global ▁market . ▁ ▁Effect s ▁of ▁economic ▁reform ▁and ▁tar iff ▁reduction ▁Australia ▁adopted ▁policies ▁of ▁economic ▁liberal isation ▁and ▁micro - e conom ic ▁reform ▁in ▁the ▁early ▁ 1 9 8 0 s , ▁including ▁the ▁priv at isation ▁of ▁government ▁corpor ations , ▁der eg ulation ▁of ▁factor ▁mark ets , ▁floating ▁of ▁the ▁Australian ▁doll ar , ▁and ▁the ▁reduction ▁of ▁trade ▁protection . ▁Just ifications ▁for ▁reducing ▁trade ▁tar iffs ▁included ▁the ▁port ray al ▁of ▁Australia ▁as ▁a ▁good ▁global ▁citiz en ▁and , ▁at ▁the ▁same ▁time , ▁reducing ▁infl ation ary ▁press ures . ▁The ▁costs ▁have ▁been ▁high : ▁Australia ' s ▁foreign ▁deb t ▁has ▁ris en ▁extremely ▁quickly , ▁fact ories ▁have ▁closed ▁and ▁well - pa id ▁sk illed ▁jobs ▁in ▁fact ories ▁have ▁been ▁replaced ▁by ▁un sk illed ▁jobs ▁in ▁the ▁service ▁indust ries . ▁▁ ▁Australia ▁has ▁effectively ▁export ed ▁jobs ▁over se as ▁and ▁its ▁foreign ▁deb t ▁exceed s ▁A $ 6 0 0   b ill ion ▁and ▁is ▁growing . ▁Australia ▁simply ▁does ▁not ▁produce ▁more ▁than ▁it