Asia Pacific Business Region - Essay Example

Bred on the ideology of liberalism, it was natural for Australians to take the lead to usher in the materialistic gospel of free trade in the Asia-Pacific region, where the prevalent socio-cultural-religious milieu militated against new ideas, and change. Change- with its flag of free trade- was anathema to the insular Oriental mind. Post World War II, in the aftermath of the years of depression, unemployment and public sector investments, notably in the nineties, Australia showed the correct path and continues to be the leader in ushering the doctrine of free trade and globalization.

1 Dumping the protectionist foreign policy of yesteryears into the dustbin of history, Australia is today boldly forging ahead in the comity of nations with a commitment, bordering on a religious fervour, to open markets and globalization, which has underpinned its remarkable growth. Open markets have paid rich dividends and the Australians intend to reap the rewards of the whirlwind of globalization. The chief concern for Australia at this juncture of history is that multilateral trade and investment negotiations and globalization keeps apace in the APBR to provide market access for its burgeoning foreign trade linked economic growth.

Australia's prosperity is inextricably linked to the well-being of regional players, big and small, underdeveloped and developing. Perceived obstacles to the Australian objective are the threat of Islamic terrorism, which can create widespread instability in the Asia-Pacific region, national rivalries, which breed insecurity, and to a lesser degree, the Sword of Democles that hangs over South Asia: the potent threat of a conflict between nuclear-armed India and Pakistan over the thorny, so far intractable issue of Kashmir.

Islamic terrorism has already created a crisis situation in Indonesia. And, if nuclear-armed Pakistan and India ever go to war, the conflict has the potential to destroy world peace, which would stymie Australian opportunity of phenomenal growth in trade and investment that the relatively open Indian market of 1.2 billion people has thrown up. Defence spending has grown rapidly in East and South Asia over the past decade. When nations arm themselves, when the first shot will be fired is only a matter time.

History is replete with such examples.The gains garnered over the years are eloquently summed up in a few revealing words in a document titled, "Benefits of trade" in the official website of the Australian Government's Department of Foreign Affairs and Trade: Trade is essential to our way of life. Trade creates jobs, boosts incomes in our local communities and increases our standard of living No country can afford to close itself off from the world economy. As a country of 20 million people, we benefit from