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31. Economic Survey of Australia, 2004

Publication Date:
01-2005
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
Recent and prospective performance is good. The Australian economy is still benefiting from the programme of widespread and deep reforms that started in the 1980s and was especially intensive in the 1990s. These made it easier to set macro policies in a stability-oriented medium-term framework. The combination resulted in a thirteen year long economic expansion accompanied by low inflation, high resilience to external and domestic shocks, and very healthy public finances. The short term outlook is for continuing brisk low- inflationary growth.
Topic:
Economics, Government, and International Trade and Finance
Political Geography:
Australia and Australia/Pacific

32. Buying air warfare destroyers: a strategic decision

Author:
Hugh White
Publication Date:
06-2005
Content Type:
Working Paper
Institution:
Lowy Institute for International Policy
Abstract:
The Air Warfare Destroyer [AWD] project is Australia's biggest proposed defence acquisition in decades. Cabinet has already chosen a company to build the ships. But before minsters go further and sign contracts, they should stop and ask two big questions which have not so far been properly considered. First, would AWDs do enough for Australia's defence to justify their cost, and what would we need to sacrifice to afford them? Second, are we buying them the right way? There are good reasons to think that the answer to both questions is no. The AWD's main purpose is to provide air defence for ADF amphibious operations in medium- to high-level conflicts. But such operations would not be a high priority for Australia. The forces we could deploy are small, and the risks they would face, even with AWDs, are daunting. And if it was necessary, amphibious operations could be better protected for air attack by proactive counter-air campaigns or fighter escorts. For coalition operations, AWDs would only add another option to a wide range of highly capable contributions we can already make, including submarines, maritime patrol aircraft, AEW and fighters. And AWDs would be marginal to any future development of ballistic missile defences for Australia. So AWDs would provide few important new military options. But their high price imposes big opportunity costs in the already-squeezed defence investment program. Unless Defence funding rises sharply, we can afford them only by cutting other major capabilities. The most likely trade-off is the JSF project; cutting that would have serious strategic costs. So ministers should not commit to buying the AWDs before they have reviewed the Defence Capability Plan as a whole to see the full implications for the ADF's overall capability. If ministers nonetheless decide to buy AWDs, they should look very carefully at how the project is being developed and managed. As they did with Navy's troubled Collins submarines and Seasprite helicopters, Defence is setting unique Australian requirements that will unnecessarily add to the cost and risk of the project. And they are experimenting with a new acquisition strategy that provides less competition and leaves more of the risk of the project in Defence's hands. A simpler and more competitive acquisition strategy would provide better value for money. The simplest and cheapest of all would be to buy overseas. There is no compelling strategic reason to buy AWDs, and even less to build them in Australia.
Topic:
Arms Control and Proliferation, Economics, and Government
Political Geography:
Australia and Australia/Pacific

33. Diaspora: the World Wide Web of Australians

Author:
Michael Fullilove and Chloë Flutter
Publication Date:
11-2004
Content Type:
Working Paper
Institution:
Lowy Institute for International Policy
Abstract:
On any given day, there are approximately one million Australians outside Australia, perhaps three-quarters of whom live offshore on a permanent or long term basis. This latter group, the 'Australian diaspora', is large and, in the main, prosperous, well educated, well connected, and well disposed to this country. It is also very mobile: rather than turning their backs on Australia once and for all, expatriates these days are more likely to move back and forward between Australia and other countries as opportunities present.
Topic:
Foreign Policy, Demographics, and Economics
Political Geography:
Australia and Australia/Pacific

34. The Australia-United States Free Trade Agreement: a preliminary assessment

Author:
Mark P Thirlwell
Publication Date:
02-2004
Content Type:
Policy Brief
Institution:
Lowy Institute for International Policy
Abstract:
On 8 February Australian Trade Minister Mark Vaile concluded an agreed text for an Australia-United States Free Trade Agreement. This Issues Brief provides a preliminary assessment of the agreement, based on the limited information now available.
Topic:
Economics, International Trade and Finance, and Treaties and Agreements
Political Geography:
United States, Australia, and Australia/Pacific

35. The Move to Preferential Trade in the Western Pacific Rim

Author:
John Ravenhill
Publication Date:
06-2003
Content Type:
Policy Brief
Institution:
East-West Center
Abstract:
Western Pacific Rim states have been slow to participate in preferential trade agreements (PTAs). In the past four years, however, more than 40 PTAs involving these economies have been proposed or are being implemented. For the first time, Japan and China have either signed or are negotiating bilateral or plurilateral agreements. The new interest in PTAs reflects the perception that they have been successful in other parts of the world, and is reinforced by dissatisfaction with the region's existing trade groupings. Although arguments can be made in favor of PTAs, they amplify political considerations in trade agreements, may adversely affect the political balance in participating countries, impose costs on nonparticipants, and deplete scarce negotiating resources. Nevertheless, the number of western Pacific Rim states participating in PTAs continues to climb. Northeast Asian countries have been following Europe in exploiting loopholes in WTO rules on PTAs to protect their noncompetitive sectors, thereby strengthening their political positions, which will likely make global liberalization more difficult.
Topic:
Economics and International Trade and Finance
Political Geography:
Japan, China, Asia, and Australia/Pacific