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New Trade and Aid Paradigm Needed for China and Pacific Relations
Jim Redden, Trade and Development Expert, Institute for International Trade, University of Adelaide.
Australia’s regional economic diplomacy has lost its way in recent times in the Indo-Pacific region. The new Albanese-led Labor government recognizes that there needs to be a reset in its trade and aid paradigm in the Indo-Pacific, in order to restore strong relations with our Pacific neighbours, as well as thaw the diplomatic freeze with China on trade. This op-ed identifies four components that could serve as the foundation for this new paradigm.
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The G7-Summit delivered more than expected
Andreas Freytag, Professor and Chair of Economic Policy, Friedrich Schiller University and Peter Draper, Executive Director of the Institute for International Trade. Over 3 days at this year's G7 summit under the German presidency the heads of government of the United States (USA), Great Britain, France, Germany, Italy, Japan and Canada - met in a castle tucked away in the Bavarian Alps. They were joined by the President of the European Commission and, as guests, the heads of government of India, South Africa, Indonesia, Argentina and Senegal. President Zelensky was also present as a virtual guest. Their aim was to constructively address the major challenges facing the world today, not least the war in Ukraine.
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Australia’s response to Chinese economic coercion: towards a comprehensive strategic approach to export diversification
Mike Adams, former Department of Foreign Affairs and Trade (DFAT) economist. Ron Wickes, past Director of the Trade Analysis Section of DFAT, Nicolas Brown headed DFAT’s branch for analysis and strategic advice on trade and economic issues.
On a range of measures, Australia’s exports have become more concentrated on China since 2000. Yet geopolitical tensions, intensified by China blocking key Australian exports over the past two years, has fuelled a debate over export diversification to reduce vulnerability to economic coercion. This policy brief argues that much of the debate misses key facts about Australia’s economic options, and argues for economic reform and regional cooperation to support diversification.
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