Open market to widgets from all nations, stop protecting local widget maker, stop making widget, layoff local widget assemblers, import cheaper widget from China to $ave $$$, see immediate Aussie lifestyle improvement today (bargain mate!), $$$ flow to China; allow open RE ownership, $$$ comes back with vengeance turbocharged by yuan printing, Chinese $$$ buyers compete for housing stock, housing prices rise exponentially, your kids can't afford housing in the country of their birth. Nor can the laid off widget assemblers.
Traffic goes mental. Sit back and have a beer while admiring the great deal you got on the widget.
(To be fair, could replace 'China' with UK or US or Uzbekistan or many others...)