Australia’s Transition

into The Global EconomyAustralia in the

International Economy by Kym Anderson

GDP Per Capita Relative to US

Relative Price of Capital

Change in Tariffs

Across the Board Cuts

Assistance to manufacturing fell from 36% to about 5% from the 1970s-90s

Agriculture subsidies fell from 25% in 1970s to below 10% in 2000

Deregulation of Tobacco in 1995, assistance fell from 30% to 2% in 2000

International Trade

International Trade

Trade Ratio, % of GDP

International trade

International Trade

International Trade

Opportunities and Challenges Ahead

Continuing Reform and Globalization

R&D Investment

Increase membership of WTO

Role of Government