Developing a shared #Australia–#Japan agenda for #economicsecurity
The term economic security is gaining traction. It means using economic tools for strategic or political gain such as the use of economic coercion which two US allies Australia and Japan have both faced from China in recent years. Now Japan is a world leader in responding to economic security threats. It has a minister for economic security, an economic security promotion act, and lots of tools in its toolkit for responding to a variety of economic security challenges. Australia is a little later to this game, but it’s catching up. It has embarked on new industrial policy. It has a robust foreign investment screening regime. Plus, it’s put measures to diversify trade and improve supply chain security in place. But what can Australia and Japan do together on economic security? And where do their interests and priorities most align? That’s exactly what our new report, developing a shared Australia Japan agenda for economic security, is all about. It has policy recommendations for the Australian and Japanese governments around energy security, critical minerals, and public private partnerships. We hope you enjoy
https://www.ussc.edu.au/developing-a-shared-australia-japan-agenda-for-economic-security
Director of Economic Security Hayley Channer provides a brief overview of her new report: Developing a shared Australia-Japan agenda for economic security. Non-Resident Fellow Tom Barrett, Senior Research Associate Samuel Garrett and Research Associate Sahara Hoff were co-authors.
TRANSCRIPT
”The term ‘economic security’ is gaining traction. It means using economic tools for strategic or political gain, such as the use of economic coercion, which two US allies, Australia and Japan have both faced from China in recent years. Now Japan is a world leader in responding to economic security threats.
It has a Minister for Economic Security, an Economic Security Promotion Act, and lots of tools in its toolkit for responding to a variety of economic security challenges. Australia is a little later to this game, but it’s catching up. It has embarked on new industrial policy. It has a robust foreign investment screening regime, plus it’s put measures to diversify trade and improve supply chain security in place.
But what can Australia and Japan do together on economic security and where do their interests and priorities most align? That’s exactly what our new report ‘Developing a shared Australia-Japan agenda for economic security’ is all about. It has policy recommendations for the Australian and Japanese governments around energy, security, critical minerals and public-private partnerships.”
We hope you enjoy it.