Australia starts from a position of strength. Just as our region has a lot to offer us, we have a lot to offer our region. We have strong, world-leading institutions, a multicultural and highly skilled workforce, and a productive, open and resilient economy, which is one of the strongest in the world. These assets have been reinforced by a series of economic reforms and good decisions made over past decades, including Australia’s world-beating actions to avoid the worst impacts of the
Global Financial Crisis.
Our strengths have long been reflected in Australia’s interaction with countries in
Asia. Over the past 50 years, Australia’s trade with Asia as a share of our total trade has risen dramatically. Our financial, political and cultural
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We will need to do more than this—we all need to respond to the rapid changes occurring in our region.
Australians need to act in five key areas in order to succeed in the Asian century.
First, irrespective of how the Asian century evolves, Australia’s prosperity will come from building on our strengths. We need to reinforce the foundations of our fair society and our prosperous, open and resilient economy at home. We need to build on areas where we already perform well, in order to extend our comparative advantage. Critical to this will be ongoing reform and investment across the five pillars of productivity—skills and education, innovation, infrastructure, tax reform and regulatory reform.
Second, as a nation we must do even more to develop the capabilities that will help
Australia succeed. Our greatest responsibility is to invest in our people through skills and education to drive Australia’s productivity performance and ensure that all
Australians can participate and contribute. Capabilities that are particularly important for the Asian century include job-specific skills, scientific and technical
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Australian firms need new business models and new mindsets to operate and connect with Asian markets. We will work to make the region more open and integrated, encouraging trade, investment and partnerships. Firms will adapt their business models to seize the opportunities created in our region.
Fourth, Australia’s future is irrevocably tied to the stability and sustainable security of our diverse region. Australia has much to offer through cooperation with other nations to support sustainable security in the region. We will work to build trust and cooperation, bilaterally and through existing regional mechanisms. We will continue to support a greater role for Asian countries in a rules-based regional and global order. Australia’s alliance with the United States and a strong US presence in Asia will support regional stability, as will China’s full participation in regional developments.
Fifth, we need to strengthen Australia’s deep and broad relationships across the region at every level. These links are social and cultural as much as they are political and economic. Improving people-to-people links can unlock large economic and social gains. While the Australian Government plays a leading role in strengthening
Meanwhile, Ross Babbage does note the significance of Australia’s geostrategic location by stating that “(Australia) need(s) to adapt to the rise of two or three very major powers in the Asia-Pacific-Indian Ocean region,” however, wishes to do this by “contain(ing) a careful mix of capabilities that could…cause even the most powerful Asian giant to pause for
The Asia-Pacific Economic Cooperation was founded in 1989 with the aim to manage the growing interconnection and trade between the 21 members and to improve the economic and political links. The APEC is assisting to reduce the costs of importing and exporting goods between the Asia-Pacific countries. The members of the APEC include Australia, Brunei Darussalam, Canada, Chile, China, Hong Kong-China, Indonesia, Japan, Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russia, Singapore, Chinese Taipei, Thailand, United States, and Vietnam. Together these nations improve the trade between the Asia-Pacific. China still remains Australia’s biggest trading partner. Since Australia’s trade links with the Asia-Pacific have grown, trade accounts for over 42% of the GDP (compared to only 32% in 1990 when relations with the Asia-Pacific were not as strong). Australian trade policies and agreements are focussed primarily on the Asia-Pacific region as eight of the largest export markets are found there. Australia has realised that the Asia-Pacific region is the most important area for trade as geographically it is close and it holds manufactured goods that Australia needs. Members of the APEC now hold over 70% of Australia’s total exporting and importing of goods and services. The rise of China’s influence on the world due to such advances in technology has influenced Australia to trade more with countries around the Asia-Pacific. Australia’s continued trading with the Asia-Pacific has helped to push Australia’s economic
Though Australia is a powerful country and is considered a main player in the surrounding area yet it is does not hold a primary rank in the global environment. Australia's contribution in military interventions beyond the Asia Pacific is smaller and follows the lead of another country such as the United States. The Australian Defense Force (ADF) has the capability to tackle with the crises in its neighborhood, because of emergence of security concerns constantly from Indonesia and many other smaller states. Australia has adopted a strategy to support and strengthen the presence of United States in the region. This mutual cooperation is very important for Australia as regards economy and security. Its alliance with United States has been due to many reasons.
Another prospect is Australia’s mineral resources. Australia is predicted to be holding much of iron ore, coal etc. This means that we are on top of vast resources that can be sold to other countries. Japan would benefit as it purchases a large amount of our coal and iron ore. This advantage could also be used to lever a FTA with the Japanese. The infinite capabilities of Japanese technology would allow Australia to keep up with the world in many areas. Of course, most of these are technologically related.
In Australia, from 1930’s onwards, Australia faced many dangers associated with the war. Before WWII, Australia faced economic threats, from the Great Depression, as well as threats from other countries, with the rise of Germany. At the commencement of WWII, Australia began to feel the threat of Japan. Australia battled these threats with a sense of national pride and prominent individuals who greatly assisted during the war.
A better way of protecting Australia was to have a better "defensive" country. Prior to federation the colonies struggled to defend themselves without the equipment needed. Each colony had its own military, however they relied on British forces to assist them with patrolling the vast Australian coastline. Different Australian colonies were highly afraid of different nations such as Germany, France and Russia. The colonies were also afraid of Asian countries, as they were very close to Australia. These countries were mostly China and Japan, who had big military backgrounds.
In handling bilateral relationships, the Government often claims to have adopted an integrated approach taking into account the totality of Australian interests. But, a closer analyses of this claim reveals it would be almost impossible to meet the totality of Australia’s interests in any bilateral relationship and this is especially true of China which has such a different socio-political system. This close relationship continues to raise political questions for Australia to grapple with, such as her relations with Taiwan, Tibet and Chinese human rights issues. In some instances Australias interests will be confined mainly to trade and investment; in the more substantial bilateral relationships, the Government will implement comprehensive strategies
The EU and Australia end the negotiations for economic and trade cooperation supplying. Australia is the most important economic and trading partner for the EU, China and Japan. The EU and Australia are like-minded partners who share many common concerns in today’s global trade environment , for instance initiative for further rebel trade in green goods, trade in services, and others.
The U.S. and Australian alliance share an interest in maintaining the peace and stability in the Asian- Pacific
The population of the Asia region of the world contributes a massive amount of exporting goods, and global business as a whole. The sheer number of people consuming goods that must be imported to support the large population force the need for trade with other regions. The demand for resources is high and the need to develop strong trade relations with other countries is vital to the continued growth and success of Asian countries.
Australian-Indonesian relations are the foreign relations between the two countries, whether economically, politically, legally or socially. Australian-Indonesian relations involve an interaction in foreign policies between the two nations (Wolfsohn, 1951, p. 68). As long as Indonesia is Australia 's closest and largest neighbor, they are bound to have great international relations. These relations began as early as the 17th century and had only become enhanced with time (Daly, 2003, p. 397). The relationship has been defined by a conjoint growth trade of up to $14 between the years 2011-2012 which reports an increase from the previous economic year (Mark, 2012, p.402). These countries are members of various trade deals such as the ASEAN Regional Forum in addition to having close ties with education, defense, and leadership. Australia 's relationship with Indonesia is crucial, and lack of such could severely bruise the economy, and hence they need to keep united by ensuring the use of widespread media with beneficial input. Australia interacts with Indonesia in a way such as sporting activity, tourism, education, economic policies, youth exchange programs, cultures and above all their diplomacy (Okamoto, 2010, p.241).
Since the second half of the twentieth century, Australia's agreement with the USA has been the focal component of its security and defence policy. The powerful economic growth of China in the second decade of the twenty-first century allows Nick Bisley to outline the tension between Australia's economic and strategic interests due to the increased rivalry between China and the US. With the antagonism between the two nations; the authors thesis is that the pursuit of the US alliance is the best policy for Australia both strategically and politically. Bisley demonstrates this ideology through the analysis of the benefits and costs of Australia's United States (US) alliance, political factors of the alliance and how likely it is for the
The country that I would like to work in is Australia. The language spoken in that country is English I am proficient in speaking in that language. The economy in Australia was relentlessly well heading into the final quarter of 2016 with consumer confidence and business confidence blooming in September and October considerably employment growth is remaining strong overall. Contemporary signs of non-mining investment are notably positive and to a point rebalancing the economy away from the initial sector with almost every industry exposed to foreign competition and an intelligent work force environment available Australia continues to be a continent of investment. The
Australia, being a well-developed country, has been subjected to the productive and destructive outcomes of globalisation and
The Australian Government’s White Paper anticipates that by 2025, the Asian region will be responsible for approximately half of the world’s output (Dept. of PM, 2012, p6). China and India are the main driving forces behind this progress, however the Paper further predicts that some Southeast Asian countries, such as Indonesia and Malaysia, will expand rapidly, contributing to this growth. Moreover, the Paper further discusses that living standards are forecast to increase drastically, modernising the Asian region even faster (Dept. of PM, 2012, p50). This increase in output and living standards within Asia could effectively strengthen the region’s dominion, as, according to Barnett (2003 p152), prosperity is closely linked to measures of wealth and globalisation.