http://www.2point6billion.com/news/2010/02/23/australia-to-renew-free-trade-talks-with-china-4158.html China & India, 40% of the world's population Wed, 08 Feb 2012 11:48:50 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://www.2point6billion.com/news/2010/02/23/australia-to-renew-free-trade-talks-with-china-4158.html/comment-page-1#comment-71423 The_Observer Tue, 23 Feb 2010 23:22:32 +0000 http://www.2point6billion.com/news/?p=4158#comment-71423 As a recent immigrant to Australia from the USA, I couldn't agree with the Australian Trade Minister more. The FTA between Australia and China would be between a developed country that is "semi-neutral" in global affairs and a large developing one that is aiming for "harmonious development" in the world. The two economies of Australia and China are in a way complimentary. Australia has a small population, minerals, agriculture, good universities and a service sector that survived the current global financial crisis. China has a large population, little iron, high sulphur coal, a lack of agricultural land for its population size, universities that are technically good but fail to impact creativity and flexibility in their graduates, large-scale manufacturing, an inefficient but well-funded state directed banking system, and lacking accountants, lawyers, consultants, etc. A FTA between the two countries could be a win-win situation. In return for easier entry for Chinese companies in Australia's resource markets or agriculture (e.g. sugar), China could give the Australian service sector companies (accounting, banking, consulting, legal, etc) and universities the ability to set up in China with over 50% of the equity. I think that the service sector competition from a friendly country would be good for China forcing local companies to innovate. As a recent immigrant to Australia from the USA, I couldn’t agree with the Australian Trade Minister more. The FTA between Australia and China would be between a developed country that is “semi-neutral” in global affairs and a large developing one that is aiming for “harmonious development” in the world.
The two economies of Australia and China are in a way complimentary. Australia has a small population, minerals, agriculture, good universities and a service sector that survived the current global financial crisis. China has a large population, little iron, high sulphur coal, a lack of agricultural land for its population size, universities that are technically good but fail to impact creativity and flexibility in their graduates, large-scale manufacturing, an inefficient but well-funded state directed banking system, and lacking accountants, lawyers, consultants, etc.
A FTA between the two countries could be a win-win situation. In return for easier entry for Chinese companies in Australia’s resource markets or agriculture (e.g. sugar), China could give the Australian service sector companies (accounting, banking, consulting, legal, etc) and universities the ability to set up in China with over 50% of the equity.
I think that the service sector competition from a friendly country would be good for China forcing local companies to innovate.

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