Pippa Malmgren cannot get over the fact Australia has tied itself to the low-value end of the Chinese economy but doesnt want anything to do with Chinas greatest economic initiative since the Great Wall.
The former adviser to US Presidents George W. Bush and Barack Obama wants a China-obsessed Australia to wake up and smell the hard landing.
For Australia the big issues are Chinese, Dr Malmgren said on a visit to Sydney.
China has already had its hard landing its not a question of if and they realise theyre not competitive anymore.
Domestic consumption isnt happening in China, thats why theyre going abroad it isnt happening fast enough, yet why is Australia banking on that?
According to the former deputy head of global strategy at UBS who was among the few to call the GFC; selling her house and moving her family to rent before the 2007 crash Chinas middle class is not burgeoning the way people thought it would.
So instead China is building a middle class elsewhere.
Theyre building it in Burma, in Central Asia , in Western Europe, in Portugal. And this is critical, by the way, because you notice theyre not investing in Australia , Dr Malmgren said.
China has shifted the paradigm to its high-profile One Belt, One Road initiative , connecting regional economies, driving Chinese branding and interests and, importantly, building GDP outside the country.
And the commitment to the build-out of global infrastructure is truly mind blowing. Its massive, Dr Malmgren said.
I find it really interesting Australians are very happy about being tied to the Chinese economy but now the Chinese want to make GDP abroad, the Australians dont want to go with them.
So far the Federal Government has not signed an MOU, alongside 65 other countries, to take advantage of the most ambitious global infrastructure initiative in a generation.
Dr Malmgren said it was an opportunity for not just in the words of former Austrade chief economist Tim Harcourt selling rocks and crops, but for Australia to finally mature as an economy.
The author of Signals: How Everyday Signs Can Help Us Navigate the Worlds Turbulent Economy, has been scratching her head as to why Australia does not grow up and join the latest industrial revolution.
Youve been a resource-based economy and I really wonder, I always ask the question why dont the Australians move up the value-chain, she said.
I mean China has moved up the value-added ladder. They used to make cheap manufactured goods, now theyre going to make more sophisticated manufactured goods cars, white goods theyre going to build global brands, why does Australia always just stop half way?
Dr Malmgren said Australia was better placed than many nations with its skill sets and human capital but had failed to focus on manufacturing.
Theres no excuse anymore for Australian businesses not to be present on the global landscape, she said.
Go here to see the original:
- Trudeau to destroy another resource industry in the west but to the chagrin of the Feds Alberta could benefit - Brooks Bulletin - January 19th, 2020
- Bringing Consensus Politics Back to Environmental Issues - State of the Planet - January 19th, 2020
- PNGs economy rebounds in 2019, a year in review - POST-COURIER - January 19th, 2020
- B.C. cheers high tech in its rural communities - but financial support is missing - The Globe and Mail - January 19th, 2020
- Hello, Hanover - The Post - Ontario - January 19th, 2020
- Ghana And World Bank Sign $570 Million Agreement | Banking/Finance - Peace FM Online - January 19th, 2020
- Carbon pricing: Research on carbon taxes and cap-and-trade - Journalist's Resource - January 19th, 2020
- Focus on demand creation reforms in budget: PHDCCI to govt - ETAuto.com - January 19th, 2020
- Union Budget 2020 | PHDCCI urges govt to focus on demand creation reforms in budget - Jagran English - January 19th, 2020
- Shadowfax Ties Up With ASSOCHAM To Upskill And Employ Youth Under The Skill India Mission - IndianWeb2.com - January 19th, 2020
- Timipre Sylva: Nigeria to focus on five critical areas in oil and gas sector in 2020 - TODAY NEWS AFRICA - January 19th, 2020
- Digital citizen rights need to have teeth for Canada to succeed in data-driven economy - The Globe and Mail - December 27th, 2019
- Azmin: Malaysia to realign economy in the next decade - The Malaysian Reserve - December 27th, 2019
- The Malaysian economy in 2020 - Malaysiakini - December 27th, 2019
- There's a Genius, Sustainable Economic System We Could All Be Using. Here's How - ScienceAlert - December 27th, 2019
- Diane Francis: If Ottawa won't listen to the West on resources, perhaps the West should stop listening to Ottawa - Financial Post - December 27th, 2019
- How Cambridge Analytica and the Trump campaign changed Big Tech forever - CNBC - December 27th, 2019
- Abe says planning to visit Middle East in early Jan. - The Mainichi - December 27th, 2019
- The Next Big Thing - The Maritime Executive - December 27th, 2019
- ANCHORAGE PRESS PERSON OF THE YEAR: At 95, Vic Fischer continues to fight for the Alaska Constitution he drafted - Anchorage Press - December 27th, 2019
- Year in Review 2019: The five fastest-growing jobs in Singapore - Yahoo Singapore News - December 27th, 2019
- Moe has no regrets about divisive 2019 as he targets more autonomy in New Year - Regina Leader-Post - December 27th, 2019
- 65 Outstanding Black And Hispanic Men Leading In Cannabis - Benzinga - December 27th, 2019
- The Triad of Commoning - Resilience - December 21st, 2019
- What the United Arab Emirates can teach resource-rich countries in Africa - Brookings Institution - December 21st, 2019
- COP 25 in Madrid and the Limits of Climate Diplomacy - State of the Planet - December 21st, 2019
- This Teacher Makes $40,000 A Year. This Lawyer Makes $210,000 A Year. That Explains The American Economy. - BuzzFeed News - December 21st, 2019
- Newport, R.I. Looks to Protect its History From Climate Change - Government Technology - December 21st, 2019
- OP/ED: What the Linn County Lawsuit Really Means - Tillamook County Pioneer - December 21st, 2019
- Enbridge to create 300 new jobs for T-south pipeline expansion - Business in Vancouver - December 21st, 2019
- Capitalism and the Limits of Greening - CounterPunch - December 21st, 2019
- Taking Up Second Committee Reports, General Assembly Adopts 47 Resolutions, including Texts to Combat Protectionism, Unilateral Economic Measures -... - December 21st, 2019
- Business movers: The biggest appointments in Irish business to kick off 2020 - BreakingNews.ie - December 21st, 2019
- Gilgit Baltistan: a peace of heaven! - Daily Times - December 21st, 2019
- Look Back 2019: PM Lee reaches out to Singapore's key partners - The Straits Times - December 21st, 2019
- Our Top Infographics of 2019 - Visual Capitalist - December 21st, 2019
- Open and shut cases: North - Resource Clips - December 21st, 2019
- Tackling the difficult political history of the sub-continent - Dhaka Tribune - December 21st, 2019
- Innovating Your Way Out Of The Resource Curse - Forbes - December 5th, 2019
- Opinion: Is Canada's economy keeping up with the Joneses? Unfortunately, the answer is no - The Globe and Mail - December 5th, 2019
- Philip Cross: Stop meddling, government. Let the economy play to its strengths - Financial Post - December 5th, 2019
- Premiers urge Ottawa to boost fiscal stabilization program retroactively to cope with downturn in resource sector - The Globe and Mail - December 5th, 2019
- 'In pursuit of a knowledge based economy' - The Patriot On Sunday - December 5th, 2019
- Experts say reliance on resource revenue is the reason for Alberta credit downgrade - The Globe and Mail - December 5th, 2019
- In China, coal creeps back in as slowing economy overshadows climate change ambitions - Reuters - December 5th, 2019
- Space race: The next trillion-dollar economy? - Fox Business - December 5th, 2019
- Be industry 4.0-ready! - Study International News - December 5th, 2019
- Most Black Friday purchases soon end up as waste - University of Leeds - December 5th, 2019
- Report from Exxon Mobil-owned firm in 1991 shows the cost of curbing CO2 - The Japan Times - December 5th, 2019
- London audience hears why Canadian LNG is the 'coolest' | Oil & Gas - JWN - December 5th, 2019
- Futureproof your career in Business Analytics - Study International News - December 5th, 2019
- Time to change aid to give people sovereignty over their food - Open Democracy - December 5th, 2019
- Column: Wolverine tracking and the tale of Terrible Ted - Salmon Arm Observer - November 29th, 2019
- How to launch Ethiopia's tech and innovation lift-off - UNCTAD - November 29th, 2019
- Challenges of the Indus Basin - The News International - November 29th, 2019
- Resiliency and sustainability in the face of industry 4.0 | Eagle Watch - Business Mirror - November 29th, 2019
- The Grand Illusion - CounterPunch - November 29th, 2019
- Podcast: Rich pickings on the abyssal plain? - chinadialogue ocean - November 29th, 2019
- Igniting Innovation - BCBusiness - November 29th, 2019
- Shedding Light on Surefire Resources Unaly Hill and Victory Bore Vanadium Projects - Kalkine Media - November 29th, 2019
- North Lake Tahoe vacation rentals impacted most with new regulations - Rocklin & Roseville Today - November 29th, 2019
- 13 new books and reports about the future of food - Yale Climate Connections - November 29th, 2019
- Economic clichs and misconceptions - Daily Times - November 29th, 2019
- 68% of Edmontonians believe transition to green energy will lead to job opportunities: survey - Global News - November 29th, 2019
- News > Working with Business > University opens National Pig Centre in Yorkshire - University of Leeds - November 29th, 2019
- Saudi Arabia on a Bold Mission to Transform its Economy and Culture by 2030 - CBN News - November 16th, 2019
- To build a circular economy, we need to put recycling in the bin - Big Think - November 16th, 2019
- Risk-based Audits for Transfer Pricing : Some Key Concerns - Economic and Political Weekly - November 16th, 2019
- Are wellness and economic growth connected? - Human Resource Executive - November 16th, 2019
- Offshore wind will be a $1T industry by 2040, but our oceans and economy need it now - Utility Dive - November 16th, 2019
- SUMA's president will help represent the west in Ottawa - 620 CKRM.com - November 16th, 2019
- Trying to bridge Canadas archipelago of envies again - Business in Vancouver - November 16th, 2019
- Reassess The PCS: Stop Moving Soldiers Every 2 Years - Breaking Defense - November 16th, 2019
- Why micromobility is the future of transportation in cities - World Economic Forum - November 16th, 2019
- Growing GDP Amid Hazardous Pollution The True Welfare of our Communities? - The Citizen - November 16th, 2019
- How Reparations to Descendants of Slavery Can Heal a Nation - YES! Magazine - November 16th, 2019
- India's Sanitation Economy estimated to be a $62 billion market opportunity - IndiaCSR - November 16th, 2019
- Skills and training the focus for new CIWM President - Resource Magazine - November 16th, 2019
- Green economy already eclipses that of oil and gas - The Rocky Mountain Goat - November 16th, 2019
- Two research projects receive combined $448000 from Innovate BC - BetaKit - November 16th, 2019