A good news story:

After initially manufacturing a different bike wheel overseas, company owner Mello Bouwmeester decided to bring the composites work to Adelaide. 

http://indaily.com.au/business/2014/10/13/local-manufacturer-gets-b...

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That's a really good story. Mello has been developing his wheels for a number of years and I couldn't imagine the costs that go into that. So to bring production onshore is surprising but welcome.

And in Australia he has access to world leading composite moulding processes such as the pre-preg based Quickstep process.  With this type of technology there is absolutely no reason that Australia can't kick some butt on composite bikes and components.

A bit more R&D on the development of industrial hemp fibre bikes using these composite moulding techniques and you have a deal breaking low embodied energy product that sets you apart (initially) and is likely to be more forgiving to punishment (think Henry Ford's sledge hammer on the hemp based car panel video).

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