It's been a big year for Australia's foreign relations. It's been a particularly big year for Australia's multilateralism and its position in the United Nations, with the win in late October of the seat on the UN Security Council after much speculation, controversy, partisanship and criticism.
Topic:
International Relations, Foreign Policy, Diplomacy, and International Security
This paper draws on fieldwork undertaken by the authors between January 2011 and January 2012 among local communities in Port Moresby and three of the more unstable highlands provinces of PNG (Southern Highlands, Western Highlands and Enga).
Topic:
Political Violence, Democratization, Government, Politics, and Fragile/Failed State
In every era there are inflection points which require long - established institutions to re - evaluate their goals, strategy, structure and resource allocations to ensure their future health and relevance. As a major organ of state, the Australian Defence Force (ADF) is no exception.
Topic:
Conflict Prevention, Security, and Defense Policy
Political Geography:
Afghanistan, Asia, Australia, and Australia/Pacific
YingYing Lu, Professor Warwick McKibbin, and Andrew Stoeckel
Publication Date:
03-2012
Content Type:
Working Paper
Institution:
Lowy Institute for International Policy
Abstract:
The emergence of substantial fiscal deficits and a large build up of government debt in major advanced economies will inevitably lead to a period of fiscal consolidation in coming years. In an earlier paper, McKibbin and Stoeckel (2010) explored the effects of this fiscal adjustment in advanced economies on the global economic outlook. This paper focuses on the differences between the impacts of fiscal policy in advanced versus emerging economies. In particular, the need for more fiscal spending on infrastructure in emerging economies and the need for fiscal consolidation in advanced economies leads naturally to the question of what this asymmetric fiscal adjustment might do to global trade balances as well as global economic growth over the coming decades. The adjustment needed in both regions is substantial and the asymmetry of the adjustment implies important consequences for trade and capital flows between regions as well as asset price adjustments within and between regions.
Topic:
Debt, Economics, Emerging Markets, Globalization, Infrastructure, and Financial Crisis
How Canberra should manage its relations with Beijing, given the importance of China economically, politically and militarily, is a question which divides Australians. There is general agreement that the rise of China will have a profound effect on the well - being and security of Australia. The consensus ends there.
Topic:
Foreign Policy, Diplomacy, Economics, and Bilateral Relations
In every era there are inflection points which require long-established institutions to re-evaluate their goals, strategy, structure and resource allocations to ensure their future health and relevance. The Australian Defence Force (ADF) is no exception.
The 2012 general elections in Papua New Guinea are likely to be marred by violence. The increased financial bounty at stake, the enhanced value of political office, the proliferation of weapons, and pressures on PNG’s Electoral Commission, Defence Force and police combine to highlight security concerns around the elections, particularly in the Highlands provinces.
The build up in government debt in response to the 'great recession' has raised a number of policy dilemmas for individual countries as well as the world as a whole. Where the government fiscal stimulus was seen as necessary to restore confidence to markets and stimulate deteriorating economies in the aftermath of the 'great recession' by 2010 the massive fiscal stimulus programs and associated run-up in debt had, for many economies, become a confidence sapping exercise. This need for a change of fiscal policy stance has fuelled another debate that has two related aspects. One is the impact of fiscal consolidation on economies that are tightening and the flow-on effects to the world economy. The other debate is how much tightening there should be and how quickly.
Topic:
Debt, Economics, Global Recession, and Financial Crisis
What is the problem? Australia's tough-love policy towards Fiji has failed to persuade the government of Voreqe Bainimarama to restore democracy to Fiji and may even be helping to entrench his regime. The Fiji government, resistant to external pressure, has instead developed new allegiances and partnerships which undermine Australia's influence. Australia's reputation as a major power in the South Pacific and as a creative middle power more broadly may be diminished by the Fiji government's continued intransigence. Over time the Fiji people's once-strong connections with Australia may dwindle and Australia's relevance to Fiji gradually diminish unless the Australian government takes decisive action now.
What is the problem? China is now one of the Pacific\'s major donors. An analysis of its aid program in the region from 2005 to 2009 suggests it is reducing the grant component of its aid and increasing the soft loan proportion. China has pledged over $US 600 million to the Pacific since 2005 and debt burdening will become increasingly pressing as Chinese loans accumulate and the five-year grace periods expire. There appears to have been limited progress improving transparency.