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Australia also depended on the outside world for imports and capital. The imports consisted of capital goods, consumer goods and equipment; it was open to new ideas and technology, and there were few limits on imports and none on capital. The main means of paying for Australian imports were exports. Exports consisted primarily of unprocessed primary goods such as foodstuffs and materials (especially early in the century). Imports were essential to both production and to maintain the high standard of living that most urban Australians had become accustomed to. However, imports were also competitive and seemed to undermine the local urban economy...
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