Strategic observation

Commentary: China and Australia's partnership of prosperity sets global example

2017-06-17 18:02:51 (Beijing Time)


by Will Koulouris

SYDNEY, June 17 (Xinhua) -- China and Australia have long enjoyed a solid economic partnership built on ensuring mutually beneficial outcomes, and a development of strong interpersonal and cultural links between both nations.

Refuting biased reports on China by some Australian media, Chinese Ambassador to Australia Cheng Jingye told a packed forum in Canberra this week that "those people are not willing to see the continued growth of the friendly cooperation between the two countries and two peoples," and furthermore that some Australian media are trying to "instigate China panic."

Despite differences, the relationship between China and Australia is developing faster than at any time in recent history, with a new report entitled "Partners in prosperity: The benefits of Chinese investment in Australia" released on Thursday by Deloitte Access Economics highlighting the positivity and primacy of the burgeoning partnership between Australia and China now, and into the future.

Without any shadow of a doubt, Chinese investment is critical to the ongoing financial success of Australia, and the report itself highlighted a number of relevant case studies that demonstrated not only the importance of the collaborative partnership between the two nations, but also the unique way in which Chinese investment allows for the autonomy of the existing operations following the capital injections made.

This autonomy comes in the form of maintaining Australian management and Australian workforces, resulting in outcomes that are geared towards maximizing the potential of the partnership, without infringing upon the inalienable rights of the Australian side.

In fact, the reality of this investment is that not only is there this independence, but the investment also leads to a greater intercultural connection between China and Australia.

The friendship between China and Australia is built on positive outcomes, but it is in some part defined by the differences between both sides, which should be understood, navigated and celebrated, allowing both nations to lower their barriers and subsequently raise their levels of successful interaction.

This does not simply relate to Australia becoming more open to investment, but rather also to identifying that there are significant opportunities to expand their operations into the Chinese market, and one of the ways in which this can be achieved is by Australian businesses becoming more "China ready."

The Chinese market is a boundless opportunity for many Australian businesses, and access to that market is only improved, and not diminished, by the capital flows into Australia from China, which in turn will eventually find their way back to China.

Experience shows that partnerships that are driven by both sides coming together to pursue win-win outcomes, and underpinned by sharing knowledge and participating in cultural exchanges, are unquestionably those that are successful and lead to long-term outcomes for the benefit of all.

These benefits do not just extend to the countries involved, nor are they limited to the businesses that seek to yield returns, but rather, they have a positive impact on the people of both nations who themselves seek higher standards of living, higher standards of education and better healthcare, while at the same time lowering the barriers for future successful global economic engagement.

It is this bright and prosperous future for both China and Australia that should be pursued. Free and open trade should not be affected by fallacious and damaging narratives delivered by those who seek to undermine the strong and beneficial partnership between China and Australia.

The China-Australia relationship has the potential to serve as a beacon for all international and intercultural relationships, not only in the Asia-Pacific, but across the globe. That relationship should be built on trust and mutually beneficial outcomes, not on zero-sum situations that serve no purpose other than to divide.

The possibilities for this relationship to thrive are endless.