Download Australia and the Global Trade System: From Havana to by Ann Capling PDF

By Ann Capling

Australia and the realm alternate method presents a entire account of Australia's position in constructing and keeping the multilateral alternate process from its origins in 1947 to the current day. This booklet, in line with archival assets and oral interviews, makes an important contribution to our knowing of Australia's exchange regulations, its advertisement international relations, and its position and place within the international political economic climate.

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19 Indeed, Australian government commitment to industrial development was growing, not waning, in this period. The United States envisioned limits on the use of tariffs and other protective measures through the negotiated reduction and 'binding' of tariffs, restrictions on subsidies for protective purposes, and bans on quantitative import restrictions. But this was at odds with Australia's traditional approach to industrial development which depended on the Tariff Board's autonomy to recommend protective measures on a 'scientific' basis.

Dedman would have preferred a better agreement with the United States in return for greater concessions from Australia, but he admitted: 'a modified (admittedly a much modified) agreement whilst giving less benefit might not be any more difficult to handle politically. 59 Faced with growing sectional opposition at home, Chifley and the Cabinet concurred. The lesser offer on wool was acceptable because Australia was anxious to avoid 'inconvenient demands' by the United States in terms of sacrificing Canadian and British preferences for Australian dried and tinned fruits.

6 Multilateralism, Menzies believed, was no substitute for the security of the imperial preferential system, especially not while the United States was running huge trade surpluses with the sterling bloc countries and Europe, thus exacerbating the 'dollar gap'. In particular, Menzies was critical of the way in which the GAIT and its 'no-new-preference' rule limited Australia's trade relations with Britain. Moreover, anti-GATT sentiment was on the rise among certain sections of the community and the Commonwealth government was under intense political pressure to renege on Australia's commitments, and to withdraw from the GATT altogether.

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