Australia can’t afford for economic security to trump trade in Asia
Economic diplomacy that builds interdependence with China in critical minerals and green energy will contribute to Australian prosperity and security, not detract from it.
Treasurer Jim Chalmers has set out a new National Interest Framework that is designed to help guide policy development and check the drift that has seen national economic resilience and security considerations increasingly dominate economic policies without constraint or clear logic.
The new economic security policies attempt to integrate security considerations into domestic economic policy on critical infrastructure, resilient domestic supply chains and our role in strengthening international supply chains. They rightly came with warnings about security interest mission creep, something that has been missing recently in Australian policy.
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Shiro Armstrong is a professor and director of the Australia–Japan Research Centre at the Crawford School of Public Policy at the Australian National University.
