Comments on: Strategic hedging in Canberra (and Tokyo) http://www.eastasiaforum.org/2010/04/01/strategic-hedging-in-canberra-and-tokyo/ Economics, Politics and Public Policy in East Asia and the Pacific Sun, 12 Feb 2012 22:50:38 +0000 hourly 1 http://wordpress.org/?v=3.2 By: Jerry Buronghttp://www.eastasiaforum.org/2010/04/01/strategic-hedging-in-canberra-and-tokyo/comment-page-1/#comment-107630 Jerry Burong Thu, 01 Apr 2010 09:37:11 +0000 http://www.eastasiaforum.org/?p=11113#comment-107630 Both Australia and Japan face a conundrum indeed. Australia now has to face its geographic and economic destiny by confronting its subliminal fear of Asia. Similar imperatives compel a debilitated Japan to return to Asia and confront its historical fears of potentially living in the shadow of a China Tributary System. The US is in denial and cannot reconcile Imperial Overstretch with an economy and civic culture that is notionally insolvent. The partially integrated European Union remains an experiment with uncertain outcomes. Australia’s present commodity export economy inhibits Canberra’s ability to determine outcomes in our national interests. The recent Rio – Chinalco debacle is a case in point. Our ability to convert economic heft in Asia is constrained because we have minimal commercial foot prints in the region resulting from a modest domestic manufacturing base. Australia needs convert our resource largesse into source of regional political influence to completed shared interests with industrialising Asian nations. We need to consider inter government commercial deals involving US, EU, Middle East and Asian interests to manufacture processed products using domestic energy and raw materials with tax incentives? The more multi region commercial interest invested the greater our ability to mitigate adverse impact on our national interests? History and China trajectory towards regional economic ascendancy appears very likely. Both Australia and Japan face a conundrum indeed.
Australia now has to face its geographic and economic destiny by confronting its subliminal fear of Asia.
Similar imperatives compel a debilitated Japan to return to Asia and confront its historical fears of potentially living in the shadow of a China Tributary System.

The US is in denial and cannot reconcile Imperial Overstretch with an economy and civic culture that is notionally insolvent.
The partially integrated European Union remains an experiment with uncertain outcomes.

Australia’s present commodity export economy inhibits Canberra’s ability to determine outcomes in our national interests.
The recent Rio – Chinalco debacle is a case in point.
Our ability to convert economic heft in Asia is constrained because we have minimal commercial foot prints in the region resulting from a modest domestic manufacturing base.

Australia needs convert our resource largesse into source of regional political influence to completed shared interests with industrialising Asian nations.
We need to consider inter government commercial deals involving US, EU, Middle East and Asian interests to manufacture processed products using domestic energy and raw materials with tax incentives?

The more multi region commercial interest invested the greater our ability to mitigate adverse impact on our national interests?

History and China trajectory towards regional economic ascendancy appears very likely.

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