This article was last updated on April 16, 2022
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In one of the most significant speeches on foreign policy, PM Gillard said the main concern should be to strengthen ties with China, India and Indonesia while complementing old relations with the US and Japan.
The former Treasury chief Ken Henry was chosen to present the PM a report in 2012 on specific ideas to implement without delay in addition to “a set of general propositions” to direct policies and projects for the next 15 years.
PM Gillard said: “While Asia now has a large and rapidly growing middle class, within a few years it will be bigger than the rest of the world combined – North America and Europe included. A national blueprint for Australia at a time of transformative economic growth and change in Asia will help Australia navigate the Asian century to seize the opportunities it offers and to meet the challenges it poses.”
She also said that China had already developed by a factor of 20 in the past 25 years and Australia was well positioned to benefit.
She added: “We are now seeing the most profound rebalancing of global wealth and power in the period since the United States emerged as a major power.”
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