As much as geography might otherwise dictate, the new digital economy has no borders, no timezones and no travel distance requirements. I therefore conclude that Australia is incredibly well positioned. The significance of the Internet is the ability to incorporate an entire value chain within the global digital network. What this means in the business world is that you, as the producer or manufacturer, can use your production systems to publish details about stock availability, quantity and estimated delivery dates to the Internet. That data can be aggregated and mediated by a distributor through an online catalogue.
Online customers can then choose and buy the goods they want.
That entire value chain happens online. The Internet has erased geographic boundaries and e-commerce can take place anywhere, anytime, anyplace in any form. So if you look at my preceding words as something of a form guide, you would have to say that I definitely regard Australia as a gold medal contender in terms of the digital economy. In a very real sense, it is the opportunity to literally reinvent your economy. This means, the fundamental rules of supply and demand will continue to change.