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Transcript - Australia China 2.0

The next phase of our economic partnership

Sydney - 7 July 2011

Duration: 3 min. 16 sec.

Speakers: The Minister for Foreign Affairs, the Hon Kevin Rudd MP and the Minister for Trade, the Hon Dr Craig Emerson MP

START

MC: David Howard, Austrade State Manager NSW/ACT: Ladies and gentlemen, please join me in welcoming Dr Emerson and Ms Adamson to the stage, and Mr Rudd to the lectern.

KEVIN RUDD MP: The purpose of our gathering here is very simple. It is to get a message out to the Australian business community that we in Australia need to reinvent and reimagine our concept of the future Chinese economy. We’ve been riding with a series of concepts now, for the last 30 years or so, and prior to that a series of earlier and more, shall I say ancient concepts. These have served their times but things are changing and the purpose of this evening and what Craig and I will be doing around the country is to explain what this new phenomenon is. Now we call it China 2.0.

DR EMERSON MP: But our emphasis on this trip is services and I can report this in closing: China became our biggest services export market in 2010 and it will remain that way indefinitely. When I talked to my counterpart, Chen Deming, who is the Minister for Commerce and Trade in China, he reaffirmed what Kevin has been saying, and that is making a really big push to increase their service economy but to engage with businesses outside of China in this vitally important sector. 

KEVIN RUDD MP: Look, I think challenge number one is why we’re here tonight, which is to get the message out loud and clear that this is a globally massive services market. If you get that message it begins to shape your corporate behaviour and therefore your capacity to persist in a foreign market, which is a complex market, but it’s getting the message first.

DR EMERSON MP: If you really want a good trade strategy I think you need a trade and investment strategy and that includes people investing in people. Some of the great relationships that have been built over the last 25 years that are so valuable are friendships through people going to our universities and us going to their universities. So I’m very excited about the whole area of education with China because, yes, you get the short term economic returns from that but there’s no substitute for the long-term benefits that that gives.

KEVIN RUDD MP: When you therefore look at the map of China to our north, have in mind when you’re looking at it through an economic prism, a GDP prism, you are looking at something the equivalent of all of Europe and each of the provinces prospectively occupying the size of a single national European economy in relative terms.

END

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