Australia remains wealthy but structurally fragile – highly dependent on raw exports and poorly positioned for a more complex, decarbonising global economy. Economic complexity is a warning signal we can no longer ignore.

Imagine Australia finishing last on the Olympic medals table. Not mid-pack. Not a disappointing ninth. Last.

There would be outrage. Inquiries. Sackings. Funding overhauls. We would demand to know how a rich, capable country with world-class facilities and talent could fail so completely.

Now consider a quieter, more consequential league table – one that measures not national pride for a fortnight, but economic capability for generations. On the global rankings of economic complexity and green complexity produced by Harvard University’s Growth Lab, Australia sits near the bottom of advanced economies. Not in income. Not in living standards. But in what actually matters for long-term prosperity: what we know how to make, how diversified our economy is, and how prepared we are for a decarbonising, technologically complex world.

On that table, Australia is not a contender. We are an also-ran.

The paradox is uncomfortable. Australia is rich but structurally weak. Comfortable but........

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