Already a subscriber?At a highly secure Canberra building near Parliament House, where mobile phones are locked away and faces are scanned on entry, an unlikely odd-couple relationship has developed between two of Australia’s most influential bureaucrats.
At the heart of their regular discussions is how to manage the national security risks relating to China, without harming the Australian economy. Shearer, who was in the audience for Kennedy’s speech, says the “old silos” that existed in the bureaucracy when he began as an intelligence analyst 35 years ago have “completely broken down”.
China has “moved in a radically different direction” to what the United States and Australia anticipated, says Elizabeth Economy, a former senior adviser in the Joe Biden administration. Renewable energy assets and supply chains are a new area of focus as Australia attempts to navigate the fraught path to net-zero emissions.
“In the case where the goods are genuinely critical to global prosperity and security, and where the actions of one large country are distorting the efficient operation of the market, preventing long-term investment and diversification, we and trading partners should not stand idle,” he said. This includes rejecting certain Chinese investments in critical infrastructure and data-rich businesses and blocking Huawei’s involvement in the 5G network.
There is a global race between the United States, China and other countries to build the world’s first commercially useful quantum computer. “We can’t out-China China,” Quinn says, “because that would fundamentally change the basis of our market-based economy. Chinese Premier Li Qiang, and its chief executive called for a “fair go” for access to the government’s critical minerals tax subsidies.Quinn, a former Treasury official, says that historically there has been a saying in economic policy circles about being wary of “rent seekers” in big business wanting taxpayer “handouts”.Michael Quelch
Source: News Formal (newsformal.com)
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: 7NewsSydney - 🏆 16. / 63 Read more »
Source: 7NewsSydney - 🏆 16. / 63 Read more »
Source: 7NewsAustralia - 🏆 11. / 71 Read more »
Source: abcnews - 🏆 5. / 83 Read more »
Source: abcnews - 🏆 5. / 83 Read more »
Source: 7NewsSydney - 🏆 16. / 63 Read more »