Assessing the key policy implications for regional Australia in the Asian Century, given that regionally based industries will be the leaders of economic change in the coming decades, this policy briefing responds to the Australian Government's recent Asian Century White Paper.
The brief provides regional focused analysis and policy directions to capture the significant regional opportunities detailed in the White Paper, but not yet clearly enunciated in the national policy approach.
The Asian Century White Paper forecasts significant regional development opportunities:
- Regions already engaged in the resources industry should continue to thrive and have further opportunities to build an export services industry.
- Rural regions will have significant new opportunities for prosperity as the Asian middle class grows and demands higher value food.
- Other regions will need to rely on their natural advantages, success in services or the successful adjustment of manufacturing to succeed.
The White Paper is based on an industry sector analysis. While the spatial variations in challenges and outcomes are acknowledged, no detailed assessment of relative regional opportunities and challenges has been prepared to date.
The White Paper can be accessed here >