China Free Trade Agreement: A Test of Australia's Ambition
Alan Joyce
Former Chief Executive Officer and Managing Director at Qantas Airways Limited
The free trade agreement with China is a unique economic opportunity for Australia - that’s the message of a new Business Council of Australia campaign.
I was in Canberra when negotiations on the FTA were completed last November and there was a real buzz about the opportunities ahead.
It was perfect timing, too.
China is already our largest trading partner, with annual two-way trade worth $160 billion. Total Chinese investment in Australia is $32 billion. And Chinese visitors spend almost $6 billion here every year, making China our most lucrative tourism market as well as our second-biggest (after New Zealand) in terms of visitor numbers.
The FTA gives us a platform to strengthen and diversify the trade and investment relationship with China as the mining boom comes to an end. It’s supported by state leaders across the country - including Labor premiers - and by businesses in a wide range of sectors, from agriculture to resources, manufacturing and services.
We need open and informed public discussion about such an important agreement. Unfortunately, opponents of the deal have resorted to some deeply misleading claims, with the threat that the FTA will strip away protections for Australian workers.
This is plain wrong. There are strong, multi-layered safeguards in our skilled migration systems to prevent the integrity of the labour market. So long as these safeguards and others are enforced properly there is absolutely no reason for concern.
The reality is that, far from harming Australian workers, the FTA will actually create new jobs as Australian companies benefit from much better access to Chinese markets and investment.
The BCA campaign is an important step to make sure there this balance in the public debate on these issues - because this deal is too important to be derailed by misinformation.
If we fail to take advantage of opportunities like the China FTA, other countries will. Australia will fall behind at exactly the time we need to act decisively to shape our post-mining boom future.
Implementing the FTA is a test of our national ambition - of how serious we are about securing our prosperity as a modern global economy. It’s a deal with the potential to benefit all Australians. It should be the cornerstone of our strategy to succeed in partnership with Asia for decades to come.
Mandarin and Traditional Martial Arts teacher at ACT Taichi & Mandarin Solutions, Australia
8 年The family visited China recently, we enjoyed our flights with Qantas especially our children who had so much fun with the movies provided on the airplane and they enjoyed their vegetarian meals too! It would be nicer form my perspective, as an exercise and fitness professional, if there is a channel about effective, gentle and safe exercises, e.g. siting straight type of self-stretching to activate and promote internal energy flow for passengers. This can be for flight crew too, on extended overseas flights, there are considerable challenges in recovering from the long periods of immobility and changes in time zones. The gentle external and internal practice (such as Tai chi and or Qigong) can significantly accelerate this adjustment process, providing benefits over and above what can be achieved by rest or gym exercises.
Mandarin and Traditional Martial Arts teacher at ACT Taichi & Mandarin Solutions, Australia
8 年Agree with what you have summarised. The cooperation and partnership with China really look bright!
Futurist | AI Strategist | Tech Investor
9 年Great article Alan. Australia needs to have informed debate on the FTA. We are a net exporter and China holds the greatest potential for our long term viability for our numerous exports: resources, education, tourism etc. I'm sure we can balance the protection of workers rights in the bigger picture.
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