Australia’s development was dependent on forced labour. My ancestor spent 8 years building roads, having been transported there as a teenager for stealing meat. The infrastructure that allowed for its development was made possible by the labour of convicts, mostly made up of the poor.
Once my ancestor had served his time, he could not afford the astronomical fare to get back home, and stayed there working in the mines for the rest of his life for a pittance. He died in his 40s. That and the forced removal and genocide of indigenous peoples, to make way for the expansion and development, surely means it was slavery and exploitation.