We live in the Asian Century. In the coming decades, China, Japan, India and Indonesia will rise to become amongst the largest economies in the world, driven by an explosion of innovation, productivity and domestic consumption from their large and fast growing middle class and high net worth populations. Smaller Asian countries like Malaysia, Thailand, Vietnam and the Philippines will emerge as economic powers in their own right, and the World will tilt towards Asia, as businesses, investment and trade seek access to the high growth markets of the region.
The economic engine of growth in the region is China. Every Asian country sees China as their No. 1 trading partner and is dependent on China for exports, investment and trade. All Asian countries have large Chinese populations themselves and, over many years, have learnt the art of diplomacy and the need to balance their economic, security and geo-political interests with China. This has been the story of the past 30 years which has seen unprecedented growth, wealth and prosperity in a region propelled by globalisation, trade and the lifting of many millions of people out of extreme poverty.
Australia is in the unique position to be the “Gateway” to the Asian region due to our geographic location, our unique and long term East-West credentials and our vibrant and dynamic multinational working population. All Australian companies, big and small, have a perfect platform from which to grow and expand their business into Asia and to become part of a regional trade and investment hub which is also capable of supporting other western businesses who view Australia as the launch pad for commercial success in the region.
