Monthly Archives: August 2004

Strategic shadows

Nat­u­ral­ly, giv­en China’s rapid eco­nom­ic growth and the high­er pro­file it has adopt­ed in for­eign pol­i­cy in the past two or three years, our inter­est tends to be in what Chi­na will become. But we also have to pay close atten­tion to what we will become as a result of our rela­tions with Chi­na. Although […]

The ‘great sucking sound’ revisited

I quick­ly get out of my com­fort­able depth when the dis­cus­sion turns to macro-ana­ly­­sis and the mys­ter­ies of mon­e­tary pol­i­cy. So I’m hap­py to con­ceed Stephen Kirchner’s more expert “criticism”:http://www.institutional-economics.com/ (18 August) of “Mar­tin Wolf(Financial Times, subscription)”:http://news.ft.com/cms/s/488f2e14-f07a-11d8-a553-00000e2511c8.html over the glob­al impact of the US cur­rent account deficit, now reach­ing 5 per­cent of GDP. But, if […]

China FTA: How they do it in the Philippines

The Chi­­na-ASEAN (Asso­ci­a­tion of South East Asian Nations) nego­ti­a­tion of a “Com­pre­hen­sive Eco­nom­ic Coop­er­a­tion Agree­ment” is pro­gress­ing slow­ly. In March 2003 Chi­na offered an ASEAN an ‘ear­ly har­vest’ pack­age of lib­er­al­iza­tion of agri­cul­tur­al prod­ucts. But the Phlip­pines, an agri­cul­tur­al producer,has now reject­ed more than half of the pro­posed deal: bq. “Chi­na has offered 400 prod­ucts […]

Tales of globalization—-cement

Cement is one of those cycli­­cal-demand prod­ucts that typ­i­cal­ly fig­ure in a rash of anti-dump­ing cas­es around the world every few years. As a busi­ness cycle starts to tip down towards its trough, cement mak­ers ‘dump’—that is sell at prices designed to cov­er fixed costs, well below long-run aver­age costs—in order to stay in busi­ness. […]

Limits of Chinese offer on agriculture

The third of Long Yongtu’s “four points”:http://www.inquit.com/article/313/what-china-wants-in-a-free-trade-agreement was made more explic­it in an inter­view with the Syd­ney Morn­ing Her­ald bq. “Agri­cul­ture is a sen­si­tive area … We can­not pro­vide Aus­tralia with coun­try spe­cif­ic quo­tas. That would cause a lot of con­cern among oth­er coun­tries.” Mr Long said Chi­na could not grant Aus­tralia larg­er export quo­tas […]

Conference on an Australia-China FTA

High­lights of the day-and-a-half “APEC Cen­ter conference(pdf ver­sion of the con­fer­ence program)”:http://www.apec.org.au/ChinaFTAProgram.pdf on the pro­posed FTA with Chi­na: * Paul Kelly’s com­ments on why the cre­ation of a clos­er rela­tion­ship with Chi­na has already begun and why it helps to cre­ate a desir­able future for Aus­tralia. Kel­ly recalled the icon­ic deci­sion of Australia’s con­ser­v­a­tive gov­ern­ment […]

What China wants in a ‘free trade’ agreement

The Syd­ney “conference(conference program—pdf file about 200k)”:http://www.apec.org.au/ChinaFTAProgram.pdf on the pro­posed Free Trade Agree­ment with Chi­na heard a keynote speech tonight from the for­mer nego­tia­tor of China’s acces­sion to the WTO, Long Yong­tu, in which he set out, for the first time, some of China’s ideas on the con­tent of the pro­posed ‘free trade’ agree­ment. Long, […]