In this interview with the Sydney Morning Herald, Dr. Raby discusses possible outcomes of Australia's FTA with China. Australia has secured 'most favoured nation' provisions in the agreement and the trade deal is expected to grow much bigger.
Australia's biggest-ever bilateral trade deal is set to grow much bigger, with China agreeing to a special ratchet clause that will ensure that future benefits conferred to other countries will flow automatically to Australia.
Dr Raby said there had been considerable political resistance on both sides when he first floated the idea of a China trade deal to his ministers in 2003, when the Howard government was concluding a trade deal with the US.
He said Chinese officials had been been anxious that they had paid too high a price for accession to the World Trade Organisation and Australians were unhappy at having to grant China "market economy" status even before negotiations had begun.
"It was the first time a developed country had engaged China on this idea," he said.
Read the full article on the Sydney Morning Herald:
© 2018 Geoff Raby & Associates