Asia plan to power Australia-Gillard
AUSTRALIA : An ambitious plan aimed at maximising links with booming
China and other soaring Asian economies will power Australia into the
world's top 10 wealthiest nations by 2025, the government said Sunday.
The sweeping policy blueprint, titled “Australia in the Asian
Century”, sets a series of goals for the next 13 years to seize upon
Asia's rapid ascent as a global economic powerhouse led by the
modernisation of China and India.
“The scale and pace of Asia's rise is staggering, and there are
significant opportunities and challenges for all Australians,” Prime
Minister Julia Gillard said. “It is not enough to rely on luck -- our
future will be determined by the choices we make and how we engage with
the region we live in.” By 2025, Gillard said Australia's GDP per person
-- a measure of personal wealth -- would jump into the world's top 10,
joining the likes of Qatar, Singapore, Hong Kong, Brunei, the United
Arab Emirates and the United States.
It is currently ranked 13th according to the International Monetary
Fund, which calculates the gauge by dividing goods and services produced
by a country by its population and adjusting for relative cost of living
and inflation.
Australia dodged recession during the financial crisis due to its
links to Asia but the mining-powered economy slashed its growth and
surplus forecasts last week as China's slowdown hits commodity prices.
Gillard said her vision was for Australia to “stand strongly as a mature
and confident power” in the region, supporting greater participation by
China and other Asian powers in decision-making while remaining a key US
ally.
“We are supporting the stabilising presence of the United States, a
strong defence force, building habits of trust and co-operation in our
region and a rules-based regional order,” she said.
Gillard said China, India, Indonesia, Japan, South Korea and the US
would be Australia's key partners, and the rise of Asia's middle classes
would bring opportunities in industries from health and aged care to
food and travel.
AFP |