Discuss the contemporary public debate about some forms of foreign investment in Australia and provide your advice on whether the government should adopt stricter controls to address these concerns
Australian policies and engagements with other global states have been beneficial to the country’s economic, political, and social development. Job security and economic development in Australia have largely been increased by the country’s ability to sell its products in various parts of the world especially in Asia and European countries (Narlikar, 2010, p.79). Studies on Australian market affirms that international agreement has not only helped in marketing Australian traditional products but also international policies have helped in adding value to the country’s manufactured products and services. Moreover, Australian labour is attaining first priority especially on foreign strategies and policies. Rule-based multilateral trading regime has principally focused on introducing and strengthening foreign investment policies to advance labour market and other essential international trades (Firth, 2011, p. 67).
Although international policies have been of benefits to the country’s social, political, and economic development, some policies have upsetting impacts on the country’s development. In this respect, some Australian foreign policies have raised mixed reaction from both Australian economists and politicians. The Australian government has engaged in various foreign agreement and international policies that include idealist policies, realistic policies, interventionist foreign policy, and multi-lateral. However, the current government has put more emphasis on multi-lateral policies (Andersen, 1997, p. 79).
The multi-lateral Kyoto Protocol policy has raised debates among Australian’s politicians and diplomats. The Australian politicians are concerned about the shift in the perception regarding threats to the environment and the long term and actual immediate effects and characteristics of degradation. Although the Australian government is willing to ensure that the policy is fully adopted for the benefits of future generation, the European Union has demonstrated dismal respects towards the policy. The core aim of the policy was to ensure that the modern society understands their role in preserving the environment. The knowledge on the role of environmental changes on trade, regional development, agriculture, fiscal policies, economy, and regional development advanced the Australian committed towards the full implementation of Kyoto Protocol.
However, despite having noticeable impacts on countries’ economic development, European Union has introduced inconsequential debates and politics into the issues of environmental protection. Lack of commitment in the implementation of Kyoto Protocol especially from developed countries has significantly affected the Australian economy (Australian Greenhouse Office, 1999, p.567). Therefore, the Australian economic experts and politicians are engaging on a debate that aims at establishing realistic and productive ways of engaging in international policies and agreements. Furthermore, the Australian politicians are concerned on the manner in which the European Union and Australian government are committed towards sustainable development international policies by examining their innovative measures in dealing with economic and environmental concerns.
The Australian government is also disturbed by how the issues that appeared to demonstrate basic differences have given way to careful consideration by European unions. The attempt to shift some of the burden regarding environmental degradation to private sector has also raised concerns among Australian policy makers and politicians. Furthermore, the European Union concern that international business can have long term impacts on the environment has also disturbed the Australian leaders. As stated by European Union leaders, businesses are powerful agents of environmental reforms (Matthew, 2010, p.17).
Therefore, by considering the recent side effects of international policies on Australian economy and most specifically the Kyoto Protocol, Australian policy makers and leaders should adopt striker controls regarding foreign policies and agreements. Despite utilising a lot of their resources and time in the formulation and in the implementation of Kyoto Protocol, the country has experienced significant losses and shortfalls. This is especially due to lack of commitment by other partners including European Union (Andrew, 2002, p.91). Being a core partner in the policy, the European Union has changed their stand on the policy for their personal benefits and interests. Going forward, the Australian politicians have the responsibility of introducing legislation that will ensure strict regulations and requirement before engaging in any international agreements. Prior to engaging, in any international policy, all players need to demonstrate their commitment towards the policy in writing. Moreover, strict sanctions should be administrated to the entity that fails to play their role on the agreement.
The Australian government also needs to educate the Australian citizens the benefits and impacts of its foreign policies. The Australians opinions need to be considered before participating in any foreign policy. In addition, Australian players should be comfortable with any foreign policies and agreement to avoid unnecessary conflict and disagreement. The adoption of strict policy will not only save the Australian government from encountering into endless and unnecessary losses but will also save the country from engaging in dangerous and unproductive foreign policies (Tim, 2010, p.21). Through adoption of severe regulations, the Australian citizens will also be adequately educated on the benefits and possible negative outcomes of any foreign policy.
References
Andersen, M., 1997, European environmental policy. The pioneers, Manchester: Manchester University Press.
Andrew L. 2002, “Trade Liberalisation and the Australian Labour Party,” Australian Journal of Political History, 48 (4).67-91
Australian Greenhouse Office, 1999, “Emissions Trading: designing the market”, Canberra: Commonwealth of Australia.
Firth, S., 2011, Australia in International Politics an introduction to Australian foreign policy, Sydney: Allen & Unwin.
Matthew F. 2010, “Chief political correspondent for Australia”, The Australian, 9, (1), 12-17
Narlikar, A., 2010, Deadlocks in multilateral negotiations: causes and solutions, Cambridge, UK, Cambridge University Press.
Tim W., 2010, “Free trade brings heaps of benefits”, The Australian, 1(8), 11-21
