This report helps policy-makers define what ‘economic security’ is and how to achieve it. The report points out that too heavy an emphasis on either economic or security elements of modern economic security issues is rarely helpful for policy-makers: governments need a data capability and sector-specific approach to navigating trade-offs.

The report explores how to make economic security policies to help navigate the opportunities and challenges
of international economic exchange — including the multifaceted impact of China on Australia’s economic security. The report draws on analysis of economic security policies and institutional structures from the United States and Japan, as well as the author’s universal research on modern economic statecraft.

The report proposes a strategic playbook, embedded in a practical ‘Scan–Share–Shape’ approach, to guide Australian economic security policy-making. A case study of advanced semiconductor export controls is used to illustrate the benefits of drawing on a rigorous economic security policy-making framework to guide policy-making in a strategically important and complex market environment.