Peter Beattie, former premier of Queensland and former state commissioner for the Americas, proposes how Australia can play a key role with the world’s two largest economies – the US and China, in the 12 June edition of The Australian.
In “Here’s Our Chance to Share the Spoils with the Emerging Gang of Two,” Beattie explains:
…The dominant players in the global economy, the US and China, form a Group of Two, giving the world a leadership team of Hu Jintao and Obama. The days of world economic dominance by the US are coming to an end; it will now have to share the power.
The US is by far the world’s biggest economy. Next year China will be No 2 instead of Japan…. Both countries are critical players in global security and nuclear non-proliferation issues. For all the wisdom of the creation of the G20 group of countries to replace the G8, the reality is that there will be in effect a G2…. [and] fortunately for Australia we are strategically located in the Asia-Pacific region, with unsurpassed historical links to both the US and China…. we are a clever country supported by a culture of innovation…we are well placed to be a key partner of the Sino-American generation of the immediate future.
…It’s in everybody’s interest that [the US and China] co-operate and bring new technologies on line, at industrial scale, as quickly as possible. With the prospect of world domination in clean energy, it’s also in their economic interests.
For America’s part, it wants clever international partners who can bring innovative technologies and processes to the US economy, then sell them to the world.
This is Australia’s opportunity…. The formula is simple: partner with the US to help it co-operate with China and Australia cements a meaningful place in the US-China-dominated economy of 2030 and beyond. (Read more)