Assessing the Future of the Asia-Pacific – US/Australia Dialogue
Extracts from Malcolm Turnbulls speech in USA.
These are the most exciting times in human history – the pace and velocity of change and the opportunities so presented are literally without precedent.
The technology of connectivity has raced ahead of our own imagination as to how to use it, not to speak of our understanding as to how to govern it.
Already most people in the developed world are connected to the Internet and mobile 24/7.
Ambitious economic and political initiatives by the Charismatic new leaders in the world’s two most populous nations, President Xi of China and Prime Minister Modi of India – presents a unique opportunity for Australia
These Countries moving from investment to consumption – a massive lower class moving to a tech savvy middle class – wanting to consume
In 10- 20 years there will be more middle class consumers in Asia than anywhere else .
With the advent of connectivity and globalisation – opportunities will abound – don’t get in the way of lower class emerging ii to middle class consumers – go for the ride !!
So, how do countries like Australia and the US take advantage if this emergence and maintain our wage levels, our social safety nets, our first world economies?
Developing strong communication.
What they can do is invest effectively in enablers of a sophisticated, adaptable economy – in beneficial areas such as skills and training, education, research and economically justified infrastructure.
In the crucial area of education and research, encouragement for excellence is important – but perhaps even more important is ensuring less able students gain the strongest possible skills and grounding, given they are most vulnerable to being left behind by the economic shifts underway.
Australia’s Andrew Robb is looking to complete free Trade Agreements with these superpowers in 2015 – to become a supplier to this emerging Powerful middle class !