The inflating Chinese economy has been a topic of conversation throughout the new millennium, as the country significantly gained economic strength and prosperity. This was the subject of speculation from many in the West, while others believe it had been a long time coming with the mass production of products with cheap labor costs spreading ideas and techniques that would one day be adopted to create domestic companies that mimic, and sometimes outperform, the functions of certain products and are still more affordable than the original.
What resulted was an economy that skyrocketed throughout the start of the new millennium; and Andrew Charlton believes Australia is in the perfect geographic and economic position to increase trade with the country and help further its success while having the Australians invest in some of that growth. Charlton is the former Senior Economic Adviser to former Prime Minister Kevin Rudd and represented Australia at the G20 Leaders Forums from 2008-2010 and also at the United Nations Copenhagen Climate Conference.
In his latest quarterly essay, Dragon’s Tail: The Lucky Country After China’s Economic Boom, Charlton talks about the congruent progress of China and Australia; and that both countries are in the perfect position to strengthen trade relations and benefit from the successes of each other.
As an economist who strongly backs fair trade policies and environmental stewardship, Charlton sees the potential in creating relationships in the region that could serve as models for global economies to practice more ethical trade practices and invest in a long-term model for economic growth.