Word: fta
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...sofa in his Parliament House office, Foreign Minister Downer has the answer to that one down pat: "We get imports more cheaply, and we get better access to their export markets. There's no doubt that the net impact on our economy would be very positive." And politically? "An FTA is a way of building a very strong bond with a country," Downer says. He believes the Chinese view Australia as more important to them than before, while Canberra's friendship with Washington gives it "gravitas" in the region. "As China's economic power has grown," Downer says...
...want to seize them." Two-way trade has tripled in value since 1998. Despite Australia's growing dependence on China, its share of all the goods going into the People's Republic is a mere 2%. Downer sees no reason why the two nations shouldn't enter into the FTA talks as equals. Fu is not so sure. "The biggest difference we have is the gap in per capita income," she says. "So Australia should always remember that it is dealing with a very poor country. If Australia wants to keep China as a friend, it has to understand...
...behind these crafted lines and negotiating gambits, there are other agendas on both sides. An FTA with a developed country would give China international legitimacy, says an Australian government adviser. It would also expose China to the realities of the international trading system and give a wary state, which has experienced sanctions in the past and is disinclined to trust the world trading system, greater security over resources. For Australia, an FTA would be another step in a deepening relationship with a potential superpower; it would also help Canberra to lay the foundations for a treaty to govern future Chinese...
...confirm this. "It's not about Mark, it's not about supporting Howard, it's about policy ideas," he insists. The story, it's agreed, will be vigorously chased. Washington correspondent Roy Eccleston is called, late at night his time, and asked to write a piece on the FTA vote - straight away. The clock ticks...
What's the bottom line? An FTA brings two countries closer. Its hundreds of minor concessions may go almost unnoticed at the time yet one day add up to something big. These tiny changes could mean the difference in getting a small business up and away, or be the start for such intangibles as new friendships, networks, and marriages. The deal could become the basis for further talks that again create winners and losers on both sides. Or the current agreement itself may be the high point; officials in both countries will explore new trade frontiers elsewhere. It's premature...