BHP’s Mackenzie: Business should rise up against protectionism

BHP Billiton’s Andrew Mackenzie wants businesses to to counter the “false gods of protectionism and nationalism”.

BHP Billiton chief executive Andrew Mackenzie.

BHP Billiton chief Andrew Mackenzie has called for Australian business to find its voice to counter the “false gods of protectionism and nationalism” and said it had a duty to lean more on politicians to pursue reforms that could counter the challenge of growing inequality.

“Profoundly concerning, particularly for a company like ours, is that protectionism and the advocacy of protectionism, would be on the rise around the globe and seen by so many politicians as a way to the solution of problems,” Mr Mackenzie said yesterday at a business summit in Sydney.

“In this era of economic uncertainty ... it is vital that the internationalism that we as businessmen stand for — and businesswomen — find our voice,” he said.

Mr Mackenzie last month spoke out about US President Donald Trump’s protectionist policies, saying they were “pretty bloody awful” from a long-term global growth perspective, while conceding
Mr Trump’s domestic growth policies could fire more commodities demand.

Yesterday, he said the issue was also one that needed countering in Australia.

“In the face of uncertainty, we have a duty to make the case for sensible reform, and not retreat when progress is put at risk, especially here in Australia,” he said. “(We should) push hard on political leaders who choose to avoid difficult and real reforms that are required and (instead) go for some of the false gods of protectionism and nationalism.”