The Thais have always been good to Australia. Dr Supachai in 1994 strongly supported Australia and its inclusion in various regional institutions and APEC when others tried to exclude us. And in 2005 Thailand and Australia signed TAFTA that helped build our trade momentum into ASEAN and the rest of Asia. In fact in terms of numbers of companies exporting and other trade outcomes TAFTA has been more successful than the trade agreement Australia signed with the USA at the same time.
There has been political controversy over the Free Trade Agreements (especially with China) and the mooted regional Trans Pacific Partnership (TPP). Dry economists on the right don’t like ‘trade distorting’ bilateral agreements (they don’t even like calling them ‘free trade’ agreements) whilst many on the left are concerned about trade agreements going too far, beyond reducing tariffs and quotas, and getting involved in social policy, labour standards and the provision of public goods.
We’ve recently seen the growth of sports economics in academia, government and industry. Why is this so? Is it just because economists are secret sports fans who all wish they were sports commentators/writers like Denis Cometti, Gideon Haigh or Caroline Wilson? That could be part of story, as many economists believe it or not are human, and just as susceptible to being sports junkies as the rest of us.
In the new era of globalisation sport has not only become big business in commercial terms but increasingly influential in international diplomacy as well. Australia made gains of $2 billion plus in trade and investment in the years between the Sydney Olympics in 2000 and London 2012 alone just from sports related business networking.
The Airport Economist’s quick guide to the 2015 Federal Budget.
“Where were you when Gough was sacked?” This of course refers to Remembrance Day, the 11th November 1975, the very day when the elected Prime Minister Gough Whitlam was sacked by Governor-General Sir John Kerr in cahoots with the Leader of the Opposition Malcolm Fraser?
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