Engaging with Asia – Australia’s Risks and Opportunities

By Martin Conboy (theoutsourcing-guide.com)

As the powerhouse economies of India and China continue to move ahead and impact the economic development of the rest of Asia and indeed the world, what will it mean for Australia’s long-term future? There’s plenty of talk about trade opportunities, but what goods and services can Australia sell into these complex, fast moving markets? And how hard will that be?

We’re supposedly in the Asian Century. Two years ago the Labour government under Prime Minister Julia Gillard launched the Asian Century White Paper as a starting point for discussions on how Australia should engage with our neighbours to the North. With the election of the new conservative government that material appears to have been archived. Does that mean the opportunities and risks raised in the document are now forgotten? Let’s hope not!

If Australia ignores or is complacent about what’s happening to our north, we do so at our peril, as the Asian Century whitepaper explains:

“Within only a few years, Asia will not only be the world’s largest producer of goods and services, it will also be the world’s largest consumer of them. It is already the most populous region in the world. In the future, it will also be home to the majority of the world’s middle class.”

To read the full story visit http://www.theoutsourcing-guide.com/article


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