I work in managing infrastructure and without having a lock on the Aussie market, I do know that they have a reputation for being very proactive in managing and maintaining their infrastructure assets. America, and California in particular, are more or less the exact opposite. We tend to not want to spend any money on anything until it breaks (ex. San Diego sewer lines, Big Dig, etc.). I remember hearing a little while ago, I think around the time of the Davis Recall, that California used to spend something like 15-20% of its budget on capital improvement projects like roads, bridges, water & sewer systems, etc. Now it’s something like 3-5%. Perhaps the Aussie’s see our infrastructure assets like any other asset: buy low and sell high.
