If you are an Australian male moderately committed to getting fit you are almost certainly sauntering along the poolside or beachside in a little black pair of trunks this summer, like every summer. And round the front will be a little Speedo label. People wear them when popping down to the shops.
Famous swimmers wear whole Speedo suits in the pool.
But late last week, the company revealed itself to be just the latest in a faltering line of iconic Australian products buffeted by globalisation. Speedo, now owned by a British-based business, announced the closure of its last Australian factory. Their employees were offered a pie and summarily dismissed. All Speedos, even the many unique Australian designs, will now be imported into the country, probably from south-east Asian sweatshops. The news was met with the customary approval by Australian money markets and market analysts, who applauded a leaner, lighter national carrier, unencumbered by all that baggage of Australian workers.