Asia’s growth will help us grow: CEO

It is in Australia’s best interests to help Asian nations become global economic powerhouses, some of the country’s top business leaders have been told.

Addressing a dinner in Brisbane during a federal government economic forum, Corrs Chambers Westgarth CEO John Denton told business leaders they should not see Asia’s rise as a threat.

Mr Denton sits on a Labor government-appointed panel currently compiling a white paper on how Australia can reap the benefits of strong growth over this century.

He said the Asian Century white paper so far indicated an open economy with Asia could only help Australia’s position.

“For a lot of other people, when we say the Asian century, they say `that means we lost’,” he told the room of more than 100 government, business, union, academia and not-for-profit representatives.

“The changes…are actually quite worrying for a lot of people.

“They don’t control it, but it is happening to them, it is happening around them.

“But it is very important not to take a superior view of this, but to openly engage with people in the discussion.”

Mr Denton said the white paper had revealed several key areas where Australia needed to change its economic attitude, particularly to do with foreign aid.

He said instead of focusing on humanitarian aid for developing Asian countries, Australia should look at policy areas to help drive their economic growth.

“That will actually be re-pivoting the way we look at foreign policy,” he said.

He said domestically, Australians needed to develop “Asian-capabilities”, such as Asian languages and culture being taught in the country’s schools and boardrooms.

Treasurer Wayne Swan earlier told the dinner Australia needed to be an “engine” of the Asian Century and could not afford to be complacent.

Prime Minister Julia Gillard opened the event by reassuring participants the government had got the macroeconomic policy settings right and Australians should be confident about the future.

You can skip to the end and leave a response. Pinging is currently not allowed.

Leave a Reply

Powered by WordPress | Designed by: Premium WordPress Themes | Thanks to Themes Gallery, Bromoney and Wordpress Themes