A coal mine near Gunnedah, 280 miles northwest of Sydney, Australia, Sept. 11, 2012 (AP photo by Rob Griffith).
Editor’s note: This article is part of an ongoing WPR series on the impact of falling oil and commodities prices on resource-exporting countries. According to a recent report in the Financial Times, certain regions of Australia have been hard hit by the commodities bust and declining Chinese demand. In an email interview, David Meredith, an associate member of the history faculty at the University of Oxford, discussed Australia’s economy and the role commodities play. WPR: How important are commodities for Australia’s economy, and what effect have falling commodity prices had on Australia’s economic growth? David Meredith: Although Australia has other [...]
Australian Prime Minister Malcolm Turnbull arrives at the 10th East Asia Summit, Kuala Lumpur, Malaysia, Nov. 22, 2015 (AP photo by Lai Seng Sin).
Editor’s note: This article is part of an ongoing WPR series on the Trans-Pacific Partnership and the potential impact on members’ economies. Since the Trans-Pacific Partnership, a trade deal between 12 Pacific Rim countries, was agreed to last month, many in Australia have expressed concern over its intellectual property provisions. In an email interview, Leon Berkelmans, the director of the international economy program at the Lowy Institute, discussed the potential impact of the TPP on Australia’s economy. WPR: What economic benefits is Australia expected to see from its participation in the TPP? Leon Berkelmans: Agriculture is an area where there [...]
Australian Prime Minister Malcolm Turnbull and U.S. President Barack Obama at the Asia-Pacific Economic Cooperation summit, Manila, Philippines, Nov. 17, 2015 (AP photo by Susan Walsh).
The military alliance with the United States has been a cornerstone of Australia’s strategic and defense policy since World War II. Recently, however, signs have emerged that Australia might more carefully weigh its options when it comes to dealing with China, the rising great power in Asia and Australia’s most important trading partner. Last month, only days after the U.S. guided-missile destroyer USS Lassen sailed within 12 nautical miles of an artificial island near Subic Reef in the South China Sea, which is claimed by China, two Australian Anzac class frigates conducted a live-fire exercise with Chinese warships. Moreover, a [...]
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