Andrew Leigh (Fraser, Australian Labor Party) Share this | Hansard source

I refer again to the speech on antidumping by the Chairman of the Productivity Commission. That speech highlighted the very real risks of the opposition's strategy—the opposition's growing economic populism. Getting the balance right on antidumping is critical in this century, the Asian century. It is absolutely vital that we preserve strong economic and diplomatic relationships with the countries in our region. We are enormously fortunate that growth moves in the world from Europe and North America to Asia, to be concentrated in the fastest growing region of the world. The Asian century presents challenges to Australia, to be sure, but the opportunities are far greater—the opportunities to engage in strong trading relationships with countries of our region. We have great potential in services exports, education, finance, law and architecture—all of these sectors will benefit greatly from our strong trading relationships with the countries of our region. Getting the balance right on issues such as antidumping is absolutely critical. Australia's trading relationships are critical to our economic prosperity. In 2011, our exports to North Asia rose 18 per cent, with shipments to China rising 24 per cent, to Japan rising 16 per cent and to ASEAN countries rising 23 per cent. Australia's trade is projected to more than double by 2025. This strong trade performance is only made possible in a rules based trading system.

Australia is a founding member of the global trading system, and we play by those rules. We may not like it when we lose the Ashes, but we still play by the rules of cricket. In the same way, we do not always like every decision made by the World Trade Organisation, but if we take our bat and ball and go home we hurt the jobs and the prosperity of many Australians.

There are now over 150 members of the World Trade Organisation, and many more are joining up. It is a rare country in the world that wants to thumb its nose at the World Trade Organisation, but that what those opposite want to do. They have chosen the low road, the economic populist road, at every possible turn. Australia's alternative Deputy Prime Minister, the Leader of the Nationals, condemned the Trans Pacific Partnership as a 'thought bubble'. Well, Deputy Speaker Scott, I can tell you it is a thought bubble that is being advocated by President Obama and something that should seriously be considered for the welfare of Australia. The day after the Deputy Leader of the Opposition said the government should accelerate negotiations on a trade deal with China, the Leader of the Opposition repudiated her and said it should be put on the backburner. It really reflects the fact that those opposite are not that interested in economics or the fundamental reforms which will raise the prosperity of our nation.

Estimates by the Centre for International Economics found in 2009 that one worker in seven in Australia was involved in the production of exports and one in 10 in import related activity. That makes one in five workers involved in trade related activity—exports, imports or both. Just imagine a set of policies that would lose one in five workers their job, that would shut off Australia's trade with the world and that would jeopardise our international trading relationships. That is what we face with the economic populism from those opposite. They are willing to say anything in order to win a vote but not willing to have the long-term conversation with Australians about the great benefits that will come to this nation in the Asian century. I commend the legislation to the House.

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