Australia's Trade, Investment And Security In The Asian Century


Book Description

Given its geographical proximity to Asia and its close alliance with the West, Australia, amid the rise of Asian economies, needs to re-formulate its policies on trade, investment and security. Over the years, in making decisions on issues relating to trade, investment and security, the Australian government has often resorted to the notion of 'national interest'. This book attempts to analyse ‘national interest’ from the perspectives of economics, finance, international trade, foreign direct investment, international relations, energy resources, and migration in the context of Australia in the Asian century.Currently, there are no multidisciplinary books on the Australian ‘national interest’. This book fills the gap with a broad and integrated approach in examining the subject. Academics, researchers, and students of various disciplines (such as economics, finance, international relations, international trade, foreign direct investment and Asian studies), policy advisors, government agencies, financial institutions, and trade law practitioners from around the world will find this book useful and stimulating.




Australia in the Asian Century


Book Description

The White Paper on Australia in the Asian Century, published in 2012, argued that fundamental policy and attitudinal changes would be required if Australia were to make the most of the opportunities presented by the Asian century. The White Paper presented a challenge to the core narrative that had galvanised support for two decades of economic reforms in Australia, commencing in the early 1980s. The challenge was intended to re-energise a reform effort that had run out of steam. But Australian policy makers have ignored the White Paper.The core economic policy narrative that motivated Australian economic reforms of the 1980s and 1990s might be labelled Australian mercantilism. The narrative's focus on something called 'international competitiveness', and especially its narrow interpretation in the form of the real exchange rate, was bound to generate a policy conundrum when, in the first decade of this century, Australia's terms of trade started to accelerate.Australia's success in the Asian century calls for further investments in national capability: the development of collaborative business relationships with Asian partners; a strong contribution to sustainable security in the region; and deep and enduring people-to-people links across a broad sweep of human activity - commercial, social, cultural and political.




Strangers Next Door?


Book Description

There are no two neighbouring countries anywhere in the world that are more different than Indonesia and Australia. They differ hugely in religion, language, culture, history, geography, race, economics, worldview and population (Indonesia, 270 million, Australia less than 10 per cent of that). In fact, Indonesia and Australia have almost nothing in common other than the accident of geographic proximity. This makes their relationship turbulent, volatile and often unpredictable. Strangers Next Door? brings together insiders and leading observers to critically assess the state of Australia–Indonesia relations and their future prospects, offering insights into why the relationship is so important for Australia, why it is so often in crisis, and what this means for the future. This book will be of interest to anyone concerned with the Indo-Pacific region, Southeast Asia, Australia and Indonesia, and each country's politics, economy and foreign policy. It contains chapters that will interest specialists but are written in a style accessible to a general audience. The book spans a diverse range of subjects, including political relations and diplomacy, security and defence, the economy and trade, Islam, education, development, the arts, legal cooperation, the media, women, and community ties. Contributors assess the current state of relations in their sphere of expertise, and outline the factors and policies that could shape bilateral ties – and Indonesia's future – over the coming decades. University of Melbourne scholars Tim Lindsey and Dave McRae, both prominent observers and commentators on Indonesia and its relations with Australia, edited the volume, providing a synthesising overview as well as their own thematic chapters.




Locating Australia on the Pacific Rim


Book Description

Our aim in this paper is to briefly analyse Australia's investment policy, particularly in relation to investor state dispute settlement (ISDS), with reference to its regional economic concerns and growing trade relations with the Pacific Rim countries. One of the co-authors of this paper has previously undertaken extensive analysis of the doctrinal foundations and practical usefulness of ISDS as a means of resolving investment disputes. That analysis compared ISDS to other alternatives, particularly resort by foreign investors to the domestic courts of host states. The analysis also took account of the draft and final reports released by the Australian Productivity Commission which significantly influenced Australia's 2011 Policy Statement. The authors do not propose to restate that debate in this paper. Nor does this paper consider whether the preference for ISDS or domestic courts stems from subjective views and particular policy goals, as distinct from the perceived superiority of one institution over the other based on universally accepted standards grounded in normative criteria. This paper rather seeks to balance the goal of maximising FDI and fostering long term trade relations against Australia's need to implement legislation considered essential to the national interest. The focus of this paper is to examine Australia's potential rejection of ISDS in light of its geopolitical and economic interests, given the preference for ISDS articulated by many of Australia's key trading partners notably, but not exclusively, in the Pacific region. First, we consider the importance of FDI and its relationship to ISDS. Next, we set out the Australian government's recent policies and statements in relation to ISDS. We then examine Australia's trade and investments interests within the Pacific region, looking briefly at its relationships with key trading partners there. In doing this, we examine the trends in BIT practice exhibited by Australia and some of its trading partners in relation to ISDS. We also look at the preference for ISDS mechanisms in the Pacific region, and comment on the potential consequences of Australia adhering to its 2011 Trade Policy Statement in light of current negotiations over the multilateral TPPA. Finally, we propose a way forward for Australia with respect to resolving investor-state disputes, namely by way of a model BIT that provides for safeguards in relation to ISDS instead of rejecting it out of hand.




Australia and China at 40


Book Description

For the first time, Australia's leading trading partner is not a democracy. Rather, it is a powerful authoritarian state with a fast-growing economy, a rapidly modernising military and bold global ambition. How should Australia respond to the seemingly unstoppable and dazzlingly swift rise of China? To mark the 40th anniversary of diplomatic relations between Australia and the People's Republic of China, expert writers - from Australia and China - come together here to analyse how both countries relate to each other. They cast light on security and economic issues, trade and investment, and political, diplomatic and strategic challenges that can only increase in intensity. While China's prosperity is good for Australia's bottom-line, China's assertiveness in regional affairs, its tight domestic political, human rights and currency controls and the expansion of its cultural influence all make Australians uneasy. And could this global powerhouse become a military threat? Or can we have it all in the Asian Century - healthy trade and diplomatic relations, and a genuine and robust dialogue?




The China-Australia Free Trade Agreement


Book Description

Australia, China, and ChAFTA : punching above both belt and weight / Colin B Picker -- An analytical introduction to ChAFTA: features and challenges / Heng Wang -- A comparative context : ensuring Australian and Chinese legal systems coexist to facilitate harmonious and trustworthy trade / Nicholas morris -- ChAFTA's external impact on related Mega-FTAs / Chang-fa Lo -- The China-Australia FTA and Australia's FTAs with other Asian countries : their implications for future SOE regulation / Takemasa Sekine -- Services liberalisation in ChAFTA : progress assessment and the way forward / Jingxia Shi -- Culture-oriented mode 4 under ChAFTA : policy considerations / Shin-Yi Peng, Han-Wei Liu and Ching-Fu Lin -- Breakthrough or standstill : China's liberalisation of legal services under ChAFTA / Weihuan Zhou and Junfang Xi -- Trade in education services under ChAFTA : what does it mean for Australia? / Eva Chye -- Substantive provisions in chAFTA's investment chapter / Vivienne Bath -- Australia, China, and the coexistence of successive international investment agreements / Tania Voon and Elizabeth Sheargold -- A comparative review of the investor-state arbitration clause in ChAFTA from China's perspective : moving forwards or sideways? / Shu Zhang -- Investor-state dispute settlement and the Australian constitutional framework / Lisa Burton Crawford, Patrick Emerton, and Emmanuel Laryea -- E-commerce in chAFTA : new wine in old wineskins? / Henry Gao -- Expanding the E-commerce chapter in chAFTA : a green box, orange box, and red box approach / Jie (Jeanne) Huang -- The ideas boom : the innovation economy in the post-ChAFTA Australia-China relationship / Ken Shao.




The End of the Asian Century


Book Description

An urgently needed risk map of the many dangers that could derail Asia s growth and stability Since Marco Polo, the West has waited for the Asian Century. Today, the world believes that Century has arrived. Yet from China s slumping economy to war clouds over the South China Sea and from environmental devastation to demographic crisis, Asia s future is increasingly uncertain. Historian and geopolitical expert Michael Auslin argues that far from being a cohesive powerhouse, Asia is a fractured region threatened by stagnation and instability. Here, he provides a comprehensive account of the economic, military, political, and demographic risks that bedevil half of our world, arguing that Asia, working with the United States, has a unique opportunity to avert catastrophe but only if it acts boldly. Bringing together firsthand observations and decades of research, Auslin s provocative reassessment of Asia s future will be a must-read for industry and investors, as well as politicians and scholars, for years to come.




U.S. Strategy in the Asian Century


Book Description

As the Indo-Pacific emerges as the world’s most strategically consequential region and competition with China intensifies, the United States must adapt its approach if it seeks to preserve its power and sustain regional stability and prosperity. Yet as China grows more powerful and aggressive and the United States appears increasingly unreliable, the Indo-Pacific has become riven with uncertainty. These dynamics threaten to undermine the region’s unprecedented peace and prosperity. U.S. Strategy in the Asian Century offers vital perspective on the future of power dynamics in the Indo-Pacific, focusing on the critical roles that American allies and partners can play. Abraham M. Denmark argues that these alliances and partnerships represent indispensable strategic assets for the United States. They will be necessary in any effort by Washington to compete with China, promote prosperity, and preserve a liberal order in the Indo-Pacific. Blending academic rigor and practical policy experience, Denmark analyzes the future of major-power competition in the region, with an eye toward American security interests. He details a pragmatic approach for the United States to harness the power of its allies and partners to ensure long-term regional stability and successfully navigate the complexities of the new era.




Globalization, Development And Security In Asia (In 4 Volumes)


Book Description

Asian countries are undergoing rapid political, economic and social transformations; meanwhile, there is a growing demand for knowing more about Asia. This Major Reference Set is designed to help general readers as well as specialists to have a good grasp of the latest developments in Asia in the key areas of economic growth, trade, energy, environment, foreign policy and security.With 4 volumes, this set covers all major dimensions of Asia's political economy. Contributors include both scholars and practitioners who provide first-hand description and analysis of fundamental issues in Asia.Peace and political stability are of ultimate importance, with Asia at the forefront of wealth creation in the global economy. Volume 1 unpacks and examines the foreign policy strategies of key states and the role of regional institutions in responding to the security demands of an Asian century.Volume 2 studies the strong economic integration through trade and cross-border investment that has been essential to Asia. The region's future prosperity depends on it being able to remain open and outward-looking. As Asia grows larger and richer, more concerted efforts are required to surmount regional rivalry and to further strengthen the regional architecture of economic cooperation.Volume 3 looks at the emerging economies' thirst for energy that creates huge competition, around which domestic, regional, and international political economy unfolds. Climate change and aspiration for sustainable development further complicate the challenge.Volume 4 offers a comprehensive coverage of subjects on environment and sustainable development in Asia with case studies of selected and representative countries that are at different stages of economic development and facing different environment-related problems and challenges in the twenty-first century.This interdisciplinary set is a fine example of international cooperation, with contributors hailing from different parts of Asia as well as North America and Europe. It is a must-have for anyone keen on understanding Asia's dynamic and changing scene.




The China-Australia Free Trade Agreement


Book Description

This book provides readers with a unique opportunity to learn about one of the new regional trade agreements (RTAs), the China–Australia Free Trade Agreement (ChAFTA), that has been operational since December 2015 and is now at the forefront of the field. This new agreement reflects many of the modern and up-to-date approaches within the international economic legal order that must now exist within a very different environment than that of the late eighties and early nineties, when the World Trade Organization (WTO) was created. The book, therefore, explores many new features that were not present when the WTO or early RTAs were negotiated. It provides insights and lessons about new and important trade issues for the twenty-first century, such as the latest approaches to the regulation of investment, twenty-first century services and the emerging digital/knowledge economy. In addition, this book provides new understandings of the latest RTA approaches of China and Australia. The book's contributors, all foremost experts on their subject matter within this field, explore the inclusion of many traditional trade and investment agreement features in the ChAFTA, showing their continuing relevance in modern contexts.