If only measured by cash flow, of course, the Australian system is successful Freddie Kitchens Dawg Pound shirt. It is because you do not offer scholarships and there are plenty of crap students in the world who can throw cash at you. At the same time, we should salute to the hard-working Australian teachers who can churn rubbish into something useful. However, Australian education does not receive international respect. Go to a developing country and ask around for the Aussie graduate’s reputation in comparison to US or UK graduates.
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Most of the time, you get the look that someone just farted. What is even worse, the Australian government does not even invest more in higher education Freddie Kitchens Dawg Pound shirt. They have been cutting the budget for higher education continuously for years. Education is one of the major export industries in Australia, you need to invest more to build capacity. Look at China, it does not win the international trade competitions for no reason. The export industries received enormous support.
By de-investing in sectors such as higher education, you end up having Aussie education institutions behave like garbage collectors internationally. You have money. Yeah, believe it or not, some of the richest Chinese people are from the garbage sorting sector as well. The menu on state dinners is worked out ahead of time by staffers from both countries so no one has an awkward encounter with food allergies, religious/cultural dietary restrictions, etc. The Saudi King is not going to be shocked during a White House dinner by pork on the menu.