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Jakarta Post

Indonesia crucial to Western Australia’s future prosperity

  • Stephen Smith

Perth, Australia   /   Wed, March 6 2019   /  01:34 am

Two essential pillars underpin Australia’s prosperity: We are a great trading nation and an attractive place for foreign investment. Since the 1950s, our trade has expanded from wheat, wool and gold to include iron ore, liquefied natural gas, high tech manufactures and world class services. Our export markets now extend beyond the United Kingdom and Europe to Asia, in particular China, Japan and Korea. Foreign investment has also shifted beyond the UK. Our top ten list now includes the United States, Japan, China and Singapore. As Western Australia Treasurer Ben Wyatt pointed out in an erudite presentation to a Perth business breakfast last week, these shifts have coincided with the global economic center of gravity moving towards Australia. Between now and 2050, that global center will inexorably move south and west, even closer to Australia. And most importantly, to Australia’s tra...