Gaining from trade liberalisation: Some reflections on Australia's experience
Chairman's speech
On 5 June 2003 the Chairman Gary Banks gave a speech, Gaining from trade liberalisation: some reflections on Australia's experience, to the New Horizons in Trade Conference in Adelaide.
Download the speech
- Contents
Introduction
Australia's economic transformation
The Jurassic Industrial Park
A more productive economy
Multiple benefits of liberalisation
Consumers gain
More competitive firms and industries also gain
Increased flexibility and 'dynamism'
The auto industry illustrates the benefits
Managers are minding their businesses
Unilateral reform has been the main source of benefit
Foreign liberalisation can bring additional gains
Non-discriminatory liberalisation has been advantageous
Attention to adjustment has been important
Incremental liberalisation has facilitated adjustment
An informed public debate helps achieve durable reform
Trade liberalisation shouldn't mean 'open slather'
Some restrictions have sound rationales
Looking forward
Push on with domestic reform
Bilateral negotiations may be a useful ‘motivator’
Modelling has limitations
The devil is in the detail
Multilateral progress is needed
The nub: understanding the domestic gains