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2. Nestlé’s Corporate Reputation and the Long History of Infant Formula
- Author:
- Lola Wilhelm, Oenone Kubie, and Christopher McKenna
- Publication Date:
- 11-2019
- Content Type:
- Case Study
- Institution:
- Oxford Centre for Global History
- Abstract:
- The demand for infant formula in Australia is insatiable. Bare shelves have led supermarkets and chemists to ration sales, limiting the quantity customers can buy in a single transaction. But it’s not Australian parents fuelling the formula shortages. A high proportion, between fifty and ninety percent, of all Australian infant formula is exported to China. The situation has created tensions between the two countries. Australian shoppers complain of Chinese daigou (personal shoppers) buying formula before it is even stacked on shelves and stripping supermarkets in teams of people. In April 2019, eight people were arrested in Australia for stealing over a million dollars of infant formula in Sydney to sell in China. Two months later, Chinese military personnel were photographed loading boxes of formula onto a Chinese warship before departing Sydney Harbour.
- Topic:
- Economics, Globalization, International Trade and Finance, History, Capitalism, and Multinational Corporations
- Political Geography:
- China, Australia, and Global Focus
3. The Bushmaster: From concept to combat
- Author:
- Brendan Nicholson
- Publication Date:
- 12-2019
- Content Type:
- Special Report
- Institution:
- Australian Strategic Policy Institute
- Abstract:
- This account of the Bushmaster protected mobility vehicle by Brendan Nicholson is the classic story of the ugly duckling—an ‘armoured Winnebago’—transformed swan-like into the vital lifesaver for Australian and Dutch troops on combat operations in Afghanistan. It was never designed to play that role. Based on South African and Rhodesian experiments with landmine-blast-deflecting V-shaped hulls, the Bushmaster was first conceived as a lightly armoured truck. In 1980s ‘Defence of Australia’ planning, the Bushmaster would move troops around the vastness of northern Australia pursuing ‘thugs in thongs’ bent on harassing locals. As with earlier ASPI case studies on defence projects, The Bushmaster: From concept to combat is designed to help those in Defence, industry and parliament and other interested observers to better understand the complexities of the business, all with the aim of improving how Australia equips its defence force.
- Topic:
- Defense Policy, Economics, National Security, Armed Forces, and Defense Industry
- Political Geography:
- Australia and Australia/Pacific
4. trade, investment, globalisation, Thailand Economic Consequences of Globalisation: Case Study of Thailand 26 December 2019 The paper reviews empirical works examining the effect of globalisation in Thailand, beginning with a discussion of its integration into the economy. Three drivers of … Read More Malaysia, globalisation, trade Globalisation and Economic Development: Malaysia's Experience 23 December 2019 The economic development of Malaysia has been strongly driven and shaped by globalisation, from the pre-colonial to the post-independence period. The country has harnessed trade, … Read More Australia, economic integration, reform, productivity Economic Consequences of Globalisation: The Australian Framework for Reforms
- Author:
- Christopher Findlay, Kotas Mavromaras, and Zhang Wei
- Publication Date:
- 12-2019
- Content Type:
- Working Paper
- Institution:
- Economic Research Institute for ASEAN and East Asia (ERIA)
- Abstract:
- Australia has experienced significant reforms to policy affecting trade in goods and services, investment, and people. The contributions of these reforms to growth have been significant. However, the scope remains for significant further reform. The drivers of reforms since World War II are reviewed in this chapter. The consequences of globalisation in Australia and the slowdown in the pace of reform and its consequences, for productivity growth in particular, are also discussed. The Australian experience provides valuable insights for other economies, in relation to the scope and timing of reform and the role of supporting institutions.
- Topic:
- Economics, Globalization, Reform, and Trade
- Political Geography:
- Australia
5. The Role of Universities in Our Changing Economy
- Author:
- Jefferey Bleich
- Publication Date:
- 03-2017
- Content Type:
- Journal Article
- Journal:
- The Ambassador's Review
- Institution:
- Council of American Ambassadors
- Abstract:
- We grew up in a century defined by the Second Industrial Revolution. Today, that revolution is being eclipsed by a Digital Revolution. The uncertainty that we are experiencing in every aspect of our society is the same disorientation that occurred between 1870 and 1910 when the first Industrial Revolution ended and a second one began. It eventually vaulted nations like America and Australia to the top of the world order. But it also produced the Gilded Age, labor unrest, mass migrations, the Great Depression and two world wars. That era is closing, and we are now experiencing the new great disruption that Silicon Valley promised. Digital technology—while solving crucial problems—is creating or compounding others. It has outstripped the capacity of government to control it and amplified the collapse of public confidence in democratic governments. It has inflamed rivalries between those who benefit and those who don’t. It has undermined standards—of altruism and of civility—that are necessary for us to find common ground. To appreciate this, we have to see where we’ve come from. A hundred and fifty years ago, we went through the same thing. Changes in technology revolutionized media, global integration and demographics. The changes were profound. In 1879, during a three-month period, both the electric light and a workable internal combustion engine were invented. Those two inventions alone produced over the next 40 years a dizzying number of new technologies. The telephone, phonograph, motion pictures, cars, airplanes, elevators, X-rays, electric machinery, consumer appliances, highways, suburbs and supermarkets—all were created in a 40-year burst from 1875 to 1915. Technology fundamentally transformed how people live. We’ve known for a while that the structures created by this Second Industrial Revolution were running their course, at least in advanced economies, and that it was being replaced by a new revolution, the digital revolution. Recently, the pace of these advances has started to build exponentially, and the pressure has been mounting. Everyone who has had to throw out their CD player for a DVD player for an iPod for an iPhone for Spotify knows what I mean. Further, the pace at which our world is being changed just keeps accelerating. Every year a new massive theory of disruption emerges: “the digital economy,” “the social network,” “the Internet of things,” “sharing economy” and “big data.” Last year, “machine learning”—where machines teach themselves things we do not know—was the buzzword. The word in Silicon Valley this year is “singularity”—where our species itself is altered by technology (gene-editing, bionics, artificial intelligence), creating a new hybrid species.
- Topic:
- Economics, Education, Digital Economy, Higher Education, and Digital Revolution
- Political Geography:
- United States, Europe, Australia, and North America
6. Facing West, Facing North: Canada and Australia in East Asia
- Author:
- Leonard Edwards and Peter Jennings
- Publication Date:
- 02-2014
- Content Type:
- Working Paper
- Institution:
- Centre for International Governance Innovation
- Abstract:
- Canada and Australia have shared interests in bolstering economic prosperity and security cooperation across East Asia. The focus of the world economy has shifted to Asia; Canada should follow the path Australia has taken for decades and orient itself — in economic and security terms — toward the emerging economies of East Asia. The risk of regional instability is growing, however, due to China's re-emergence, continued speculation about US strategic engagement in Asia and increased competition over disputed maritime boundaries. These developments provide opportunities for collaboration between countries like Canada and Australia. Non-traditional security threats, including natural disasters, climate change, food security and cyber security, point to a range of areas where the two countries can work more closely together.
- Topic:
- Security, Diplomacy, Economics, International Trade and Finance, Bilateral Relations, and Governance
- Political Geography:
- America, Canada, and Australia
7. The G20 Needs A Growth Strategy
- Author:
- Mike Callaghan
- Publication Date:
- 02-2014
- Content Type:
- Policy Brief
- Institution:
- Lowy Institute for International Policy
- Abstract:
- Restoring global economic growth and creating jobs has been an objective of successive G20 summits. Australia has also made it a priority for the G20 in 2014. To achieve such an outcome requires a comprehensive and agreed growth strategy. The G20 lacks such a strategy and has failed to provide a clear and consistent message about how members can or are working together to achieve such an outcome.
- Topic:
- Economics, International Cooperation, International Organization, International Trade and Finance, Markets, and Labor Issues
- Political Geography:
- Australia
8. High Tech: The Next Wave of Chinese Investment in America
- Author:
- Daniel H. Rosen and Thilo Hanemann
- Publication Date:
- 04-2014
- Content Type:
- Working Paper
- Institution:
- Asia Society
- Abstract:
- WHILE CHINA STARTED INVESTING AROUND THE WORLD in the early 2000s, the first waves of Chinese overseas investment targeted mostly extractive mining activities in developing countries and resource-rich advanced economies such as Australia and Canada. Over the past five years, however, Chinese capital has begun to flow into non-extractive sectors in advanced economies, increasingly targeting technology- and innovation-intensive industries. Initially, the surge of Chinese outward foreign direct investment (OFDI) in the United States largely responded to opportunities in energy and real estate, but access to technology and innovation is now becoming an important driver. In the first quarter of 2014 alone, Chinese investors announced high-tech deals worth more than $6 billion, including the takeovers of Motorola Mobility, IBM's x86 server unit, and electric carmaker Fisker.
- Topic:
- Economics, International Trade and Finance, and Foreign Direct Investment
- Political Geography:
- China, America, Canada, Asia, and Australia
9. Review: Free Market Economics
- Author:
- Richard M. Salsman
- Publication Date:
- 04-2014
- Content Type:
- Journal Article
- Journal:
- The Objective Standard
- Institution:
- The Objective Standard
- Abstract:
- Free Market Economics: An Introduction for the General Reader, by Steven Kates. Northampton, MA: Edward Elgar Publishing, 2011. 352 pp. $50 (paperback). Not since 1924 has there been a comprehensive yet readable book on economics aimed at the ordinary but intelligent citizen that defends and incorporates the field's foundational principle, Say's Law (named after Jean-Baptiste Say, 1767–1832) and its main corollaries: the primacy of production, the entrepreneur as prime mover, and prices as the commercial language that coordinates economies and their subsectors. Now we have such a book: Free Market Economics: An Introduction for the General Reader by Australian business economist Steven Kates. His prior books examined the prevalence of Say's Law among top economists during the pro-capitalist 19th century and its abandonment by most economists in the anti-capitalist 20th century. The handful of texts on economic principles since the 1920s that recognize the superiority of a free economy have been too technical, narrowly devoted to refuting economic fallacies, or tainted by dubious philosophy. This book avoids such flaws. Kates accomplishes what was last achieved by Oxford professor Henry Clay (1883–1945) in Economics: An Introduction for the General Reader (1924). Better still, Kates's book offers a modern, more sophisticated, more pro-capitalist treatment than did Clay's book, and it provides the ideas people need to grasp and refute the disastrous dogmas and policies of Keynesianism. At the core of this book is Say's Law, the principle that supply constitutes demand, that one cannot demand (or purchase) anything in any market without first producing an economic value for offer (or, in a monetary economy, without first earning spendable income by producing value). This principle recognizes that markets are made by the producers and that the most economically important producer of all is the entrepreneur, who specializes in soliciting and coordinating the other main factors of production: land (including raw materials), labor, capital, and financing. Say's Law condenses the truth that material prosperity is attained not by consuming (using up) wealth, but by saving, investing, and producing wealth. Unlike most textbooks today, Kates's says economics should explain wealth creation, or “net added value,” not how we ration “scarce resources.” Keynesianism, Kates explains, explicitly rejects Say's Law and asserts that a free market is prone to “failures” and crises, to excessive production, deficient consumption, and depressions; it further insists that government deficit spending, money printing, and near-zero interest rates can fix said market failures. Keynesian policies assume, contra Say's Law, that there can be an aggregate, economy-wide excess of abundance, or deficiency of aggregate demand. Say's Law holds that aggregate supply and aggregate demand are the same thing viewed from different perspectives and thus cannot be unequal; recessions entail reduced production and typically (but not always) are caused by government policies that are antithetical to production and profits. In contrast to Keynesianism, Say's Law, properly understood, tells economists (and citizens) to reject the contradictory claim that a contracting economy reflects an overexpanding economy, that somehow poverty is caused by prosperity, and it recommends the rejection or removal of any policies that impede or depress the incentive or capacity of entrepreneurs to create wealth or employ other factors of production. According to Kates, Say's Law “is the essence of market-based economics”; and “without the clarity that [it] brings, economic theory has lost its moorings and the irreplaceable value of leaving things to the market in directing economic activity cannot be understood” (p. 6). Yet, the classical, Say-based theory of the business cycle and public policy “has the ability to penetrate the darkness left by Keynesian theory in understanding the causes of recessions and the steps that are needed to bring recovery about” (p. 7). . . .
- Topic:
- Economics, Government, and Law
- Political Geography:
- Australia
10. Chinese global investment growth pauses
- Author:
- Derek M. Scissors
- Publication Date:
- 07-2014
- Content Type:
- Working Paper
- Institution:
- American Enterprise Institute for Public Policy Research
- Abstract:
- Chinese foreign investment declined through mid-2014 for the first time since the financial crisis. By sector, energy draws the most investment, but a slump in energy spending means that metals and real estate have been more prominent so far in 2014. The United States has received the most Chinese investment since 2005, followed by Australia, Canada, and Brazil. China invests first in large, resource-rich nations but has also diversified by spending more than $200 billion elsewhere. Chinese investment benefits both China and the recipient nation, but host countries must consider thorny issues like Chinese cyberespionage and subsidies.
- Topic:
- Economics, Human Rights, International Trade and Finance, Terrorism, and Foreign Direct Investment
- Political Geography:
- United States, China, Canada, Asia, Brazil, and Australia