Australia in the Asian Century

An ambitious plan aimed at maximising links with booming China and other Asian economies will power Australia into the world’s top 10 wealthiest nations by 2025, the government has said.

By engaging in more business with China and India in particular, Australia aims to lift Asia’s impact into its economy to one third by 2025, from 25 per cent now.

“Whatever else this century brings, it will bring Asia’s return to global leadership, Asia’s rise. This is not only unstoppable, it is gathering pace,” Prime Minister Julia Gillard said on Sunday.

The sweeping policy blueprint, titled “Australia in the Asian Century”, sets a series of goals for the next 13 years to seize upon Asia’s rapid ascent as a global economic powerhouse…

It also targets more Asian investment into Australia and lower trade barriers, although does not recommend changing Australia’s foreign investment rules, which include intense scrutiny of planned investments from overseas state-owned firms…

“It is not enough to rely on luck – our future will be determined by the choices we make and how we engage with the region we live in,” the prime minister said…

Gillard said her vision was for Australia to “stand strongly as a mature and confident power” in the region, supporting greater participation by China and other Asian powers in decision-making while remaining a key US ally.

“We accept China’s military growth is a natural, legitimate outcome of its growing economy and broadening interests,” the policy document said.

Australia will have to balance its defence and security ties to the US with supporting China’s military growth and stronger role in the region, the document said, adding that any policy aimed at containing China would not work.

RTFA for an expanded view of what they project for Oz in a changing world. RTFA for a snapshot of a nation that intends to grow into the future on the basis of education and commerce. Admittedly topics that receive lots of lip service here in the US. And little else.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.