The way forward?

A group of prominent economists, politicians and leaders, are calling on the Federal Government to formally work with Asia to bring the global economy back from the "savage impact" of COVID-19.

Hard-hit Europe's GDP is forecast to fall 7.8 per cent this year.

COVID-19 deaths in the United States have topped 100,000, while the UK has one of the highest death rates in the world.

With Australia's new COVID-19 cases slowing to a trickle it was time to start thinking about how to reopen borders for students, businesspeople, scientists and others important to public health and economic recovery.

Australia has already engaged in high-level talks about establishing a trans-Tasman bubble, which has been floated as a way to reduce economic dependence on China.

The Regional Comprehensive Economic Partnership (RCEP) is a proposed free trade agreement in the Indo-Pacific region between the ten member states of the Association of Southeast Asian Nations (ASEAN), namely Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam, and five of ASEAN's FTA partners—Australia, China, Japan, New Zealand, and South Korea and India.

India, which has a long history of economic protectionism, is the "main barrier" to implementation of RCEP.

Mr Modi's Government refused to sign up to RCEP in November for fears it would harm India's manufacturing and agriculture sectors.

https://www.abc.net.au/news/2020-06-...id-19/12307646

What do you think? is Asia the key to recovery from the Covid19 economic collapse?

Re: The way forward?

Absolutely Bruce. I think Australia needs to and should continue to engage with Asia economically, culturally and in every other way. It is our region. I think we should take lessons from the Britain/ EU experience. Engage with countries in our region without sacrificing sovereignty on any level. This includes allowing investment but not allowing long leases on ports or any other land. Not selling land or industrial facilities to foreign buyers unless they live in Australia permanently, pay the appropriate level of tax and pay Australian wages to their workers. Maintain military strength: cooperate militarily with other nations in the region but do not assist with or share high level technological systems: Do not provide training or support to other nations militaries as a matter of course. Only if totally necaessary. Most of all work on reducing dependence on China for exports and education services. Step very carefully with China. BY all means engage and trade but do not stand one gram of bullying or standover tactics from them. Any deals must be win/ win. They can be a team member but not the captain and coach. Covid affects the entire world and every economy. If business confidence and the spirit of enterprise can maintain - if all the people in Asia, including Australia - are still willing to have a go, all pull together and take a risk - then that indeed will be the key to surviving Covid in our region IMO. Britain and Europe and hopefully the USA - if it doesn't blow itself up first -can be part of that also. As far as NZ goes I think they can be a key player too. They are good at handling just about anything and we can learn a lot from them