Speeches | 23 June 2006

International demographic and economic change, and what it means for Australia

On 21 September, the Hon Peter Costello MP, Treasurer, addressed the Lowy Institute for International Policy. In his speech entitled "International Demographic and Economic Change, and What It Means for Australia", Mr Costello identified the economic rise of China and India as the dominant narrative of the world economy in the years ahead and commented that the process of international economic rebalancing involved was working to Australia's benefit. He stressed his strong support for the multilateral trading system as one important framework for managing this process, emphasising that while trade liberalisation could and should be pursued at all levels – bilaterally, regionally and globally – bilateral agreements could never replace the benefits of the open, rules-based system embodied in the WTO. The Treasurer also highlighted the growing importance of the G-20 as an influential forum driving debate on global economic developments and governance.Peter Costello

  • Peter Costello

On 21 September, the Hon Peter Costello MP, Treasurer, addressed the Lowy Institute for International Policy. In his speech entitled "International Demographic and Economic Change, and What It Means for Australia", Mr Costello identified the economic rise of China and India as the dominant narrative of the world economy in the years ahead and commented that the process of international economic rebalancing involved was working to Australia's benefit. He stressed his strong support for the multilateral trading system as one important framework for managing this process, emphasising that while trade liberalisation could and should be pursued at all levels – bilaterally, regionally and globally – bilateral agreements could never replace the benefits of the open, rules-based system embodied in the WTO. The Treasurer also highlighted the growing importance of the G-20 as an influential forum driving debate on global economic developments and governance.Peter Costello

  • Peter Costello