Australia’s Prime Minister Scott Morrison said his government did not see the COVID-19 pandemic as an opportunity to create a more “state-centric” economy, but instead encouraged a more sustainable business-led recovery. I told the business leader.
In his speech to the Davos Agenda 2022 Virtual Summit hosted by the World Economic Forum, Morrison describes Australia’s path to overcoming a global collapse from a pandemic and an approach to support economic recovery and resilience over the next decade. did.
“Government-centric recovery has not been seen to continue into the future,” he said on January 21. recovery.
“We knew we were dealing with a public health crisis, albeit with serious economic and social implications.
“We have never seen it as a cover for some kind of funky experiment to transform the economic system. Morrison said this was a long-term attempt to revive or establish a state-centered economy. I don’t consider it an invitation. “
He noted that this “market-oriented” approach has helped Australia for decades, adding that Australia had not been in recession for 28 and a half years before the COVID recession.
Five powers that shape the world
The Prime Minister also outlined what he saw as the five major “powers” that shaped political, economic and technological change in the post-pandemic world.
This includes accelerating the digital economy, where the need to link the digital and physical worlds has been seen. Second, he said there is a growing demand for skills and research talent, a more adaptable workplace, and closer collaboration between researchers and the business community.
Meanwhile, more intense geopolitical competition has emerged. Morrison said this was most prominent in the Indo-Pacific with China, but he did not name the country.
“We live in an increasingly fragmented and contested world, especially in the Indo-Pacific, which has become the strategic center of gravity of the world,” Morrison said.
“There are many challenges we face. There is tension on territorial disputes. There is rapid military modernization. There is foreign interference throughout the Indo-Pacific, and here in Australia.
“Malicious cyber threats and attacks are taking place. Disinformation, financial coercion. This is a highly contested space and many gray zone tactics have been adopted throughout the region for coercion and intimidation purposes. It has been.
“To address these challenges requires cooperation and a common purpose among those who believe in the world order that supports the rule of freedom and the rule of law, which has been the basis of world prosperity since World War II. “He said.
The fourth force he outlined is the global supply chain and open trade driven by the era of “hyperglobalization” where governments and businesses saw “the rules must be reassessed” and “their assumptions”. It was the pressure of.
The last force was the impetus to decarbonize the global economy while maintaining affordable and reliable energy for our customers and businesses.
Morrison called on world leaders to pursue a rapid economic recovery, reminiscent of what happened in the 1980s and 1990s, rather than the “long-term downturn” that followed the GFC in the 2010s.
“This was essential because the pandemic was “intensified,” he said.[d] A “new gap” between more distressed countries and industries such as tourism, travel and business events, and industries that could be “isolated” from the worst impacts such as logistics, health and IT.
“Rapid recovery must be our common economic mission: job creation, wealth building, recovery for prosperity, which narrows the gap in our community. Sharing prosperity. Is always the foundation of strong and stable democracy and world security, “he said.