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International competitiveness is the degree that a country can produce goods and services which meet the test of international markets, while simultaneously maintaining the expansion of real incomes of its people over long term.
International competitiveness
Economic Performance > Relative Inflation & Relative Exchange Rate
Business Efficiency & Infrastructure > Labour Productivity & Relative wages
Determinants of the competitiveness of goods and services:
High wages and a high exchange rate have been responsible for Australia's lack of competitiveness.
Recent trend in Australia's competitiveness.
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