YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific
description
Transcript of YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific
![Page 1: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/1.jpg)
YOUNG LEADERS TRAINING PROGRAM
for Sustainable Development in Asia and the Pacific
30 June-15 July 2006
Kangwon National University
Chunchon, Korea
![Page 2: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/2.jpg)
Introduction to Methodologies in
Development and Trade Analysis
![Page 3: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/3.jpg)
LECTURER
• Prof Tran Van Hoa• Director, Vietnam and ASEAN+ Research Program
• Centre for Strategic Economic Studies• Victoria University, Melbourne, Australia
• Honorary Professor• National Economics University, Vietnam
• National Advanced Training Institute (NATI)• Ministry of Trade, Vietnam
• Consultant/Mentor• AusAID-Cardno, Australia
• Email: [email protected]• Website: http://www.staff.vu.edu.au/CSESBL/
![Page 4: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/4.jpg)
VARIOUS USES
– Research– Teaching– Training– Policy– National and International Networks
![Page 5: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/5.jpg)
FAST CHANGING WORLD: CURRENT GLOBAL ISSUES
1 Issue 1: Global Economy
2 Issue 2: Global Knowledge
3 Issue 3: Global Commerce and Industry
4 Issue 4: Marching Globalisation
5 Issue 5: Need of Global Competitiveness
6 Issue 6: WTO and FTA Foundation: Global Pure Competitive Market
![Page 6: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/6.jpg)
GLOBAL GOVERNANCE
Finance (IMF)
Commerce (GATT, GATS and WTO)
Justice (The Hague)
War and Peace (United Nations)
![Page 7: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/7.jpg)
REGIONAL TRADE AND DEVELOPMENT ISSUES IN ASIA
Miracle (60-mid 90) and Crisis (97) Years in Asia
IMF Policy Failures in Asia Crises (Mexico to Indonesia)
Slow WTO Negotiations (Doha, agriculture)
Fast (post-98) Recovery of Crisis Economies in Asia
Benign Neglect of Crisis Asia from NAFTA and EU
Support from World’s 2nd Largest Economy
![Page 8: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/8.jpg)
REGIONAL TRADE AND DEVELOPMENT ISSUES IN ASIA
Recent Economic Integration Developments:
Rise of Plurilateral FTA (LAFTA, 05) Rise of Bilateral FTA (AIFTA, AEFTA, 05) Emergence of New Asian Regionalism (ASEAN+3,
00) Emergence of East Asia Regionalism (EAS, 05) Emergence of South Asia Regionalism
SAARC (85), SAFTA (05)
![Page 9: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/9.jpg)
ASIAN REGIONALISM AND FREE TRADE AGREEMENTS
• Asian Regionalism and FTAs are not new • (eg, East Asia proposed by Japan in 1940s)
• Proliferation of plurilateral and bilateral FTAs in Asia and Oceania in recent years.
![Page 10: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/10.jpg)
ASIAN REGIONALISM AND FREE TRADE AGREEMENTS
• EXAMPLES
Current: AFTA, TAFTA, AUSFTA, JSFTA,
ASFTA, ASEAN+3,
Proposed:ASEAN+5, ASEAN+India,
ASEAN+EU, Australia+Emirates, Australia+China, Australia+Japan
![Page 11: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/11.jpg)
ASIAN FREE TRADE AGREEMENTS
• The Foundation of Asian FTAs:
Proximity (Gravity)
Affinity in Consumption and Production
Political Compatibility
Strategic Regional Cooperation
![Page 12: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/12.jpg)
ISSUES IN FTAS
• Mechanics of FTAs:
Liberalisation of trade, investment, services, business and tourism
• Benefits:
• Trade, economic, political in the medium & long term
![Page 13: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/13.jpg)
ISSUES IN FTAS
• Challenges/Costs:
Country interests, NTMs, cultures, histories, religions, national, regional & global crises, current rising oil prices, global competition, exchange rates, etc
• Ideology vs Realism:
Research-based policy versus policy-based (biased) research
![Page 14: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/14.jpg)
ROLE OF POLICY REFORM AND SHOCKS IN REGIONAL FTAS
• Gains from FTAs are affected positively by policy reforms & negatively by shocks
• EXAMPLES:
• South Korea economic reform• China investment policy• Tsunami in South East Asia• Gulf and Iraq wars
![Page 15: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/15.jpg)
Cointegration/unit root taxonomy of policy reforms and shocks
GRADUAL SUDDENTemporary TemporaryLong lasting Long lasting
Examples: Doi MoiChina SOE reform Gulf War, SARS, avian
flu
![Page 16: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/16.jpg)
ROLE OF NTMS IN REGIONAL FTAS
• Non-Tariff Barriers or Measures (NTMS)• 40% of LDC Exports Affected (UNCTAD)• % of Australia/Vietnam Trade Affected if NTMs
Prevail?• % of US/Vietnam Trade Affected if NTMs
Prevail?• % of Australia’s Exports/Investment to China
Affected if NTMs Prevail?
![Page 17: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/17.jpg)
CHARACTERISING NTMS
• Lack of transparency• Poor intellectual property-rights enforcement• Quarantine• Customs procedures• Administrative import requirements• Burdensome regulations and standards, and
![Page 18: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/18.jpg)
CHARACTERISING NTMS
• Restricted mobility of business people.
– Pervasive
– Currently Difficult to Quantify
– Politically Sensitive
– But Measurable?
![Page 19: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/19.jpg)
HOW TO BEST MEASURE GAINS/LOSSES FROM FTAS AND WTO?
The Economic/Commerce Policy Scene
Policy Components:
Y: Target, X=Instruments
Expected Action:
Y X : Directional Causal Linkage
Lucas Critique: Y -> X and Y <- X
![Page 20: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/20.jpg)
HOW TO BEST MEASURE GAINS/LOSSES FROM FTAS AND WTO?
Advanced Impact Methodologies
The Keynesian (1940)-SNA93 (1993)
Y = ΠX + V
The Johansen CGE/GTAP (1960)
dlogY = dlogX
![Page 21: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/21.jpg)
HOW TO BEST MEASURE GAINS/LOSSES FROM FTAS AND WTO?
The Cross-Section Gravity Theory (1999)
The Panel Regression (Dollar, EJ, 2004)
The Generalised Gravity Theory (TVH, 2002)
![Page 22: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/22.jpg)
Advanced Impact MethodologiesMORE DETAIL
• The Keynesian (1940)-SNA93 (1993)• • AY + BX = U, then with A 0• A-1AY + A-1BX = A-1U or• Y = -A-1BX + A-1U or• Y = ΠX + V Reduced Form•
![Page 23: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/23.jpg)
Advanced Impact MethodologiesMORE DETAIL
• The Johansen CGE/GTAP (1960)•• dlogY = dlogX
• Using Euler-Gauss Algorithm to solve
![Page 24: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/24.jpg)
Advanced Impact MethodologiesMORE DETAIL
• The Cross-Section Gravity Theory (Frankel & Romer, 1999)
•• logT = a1 + a2logY + a3logG + u• • The Panel Regression (Dollar, EJ, 2004)•• logT = a1 + a2LOG(Y) + a3LOG(G) + u
where LOG(Y)=Vector of Y, etc
![Page 25: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/25.jpg)
Advanced Impact MethodologiesMORE DETAIL
• The Generalised Gravity Theory (TVH, 2002)
• • Y = Y(T,S) Arbitrary Function• T = T(Y,S,FDI,X,Z) Arbitrary Function
• Specifying No Specific Functional Form and Allowing Circular Causality and Temporal Shocks
• or Policy Change
![Page 26: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/26.jpg)
Advanced Impact MethodologiesMORE DETAIL
• Using Planar Taylor Series Expansion
• dY = (Y/T) dT + (Y/S) dS• dY/Y = T(Y/T)(dT/TY) + S(Y/S)(dS/SY)• = E1 dT/T + E2 dS/S, or• Y% = E1 T% + E2 S% + U.
E1=Elasticity of Y on T, etc. And, similarly for T.
![Page 27: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/27.jpg)
HOW TO BEST EMPIRICALLY MEASURE GAINS/LOSSES FROM FTAS AND WTO
WITH COMPREHENSIVE TRADE, POLICY CHANGE & SHOCKS?
• A trilogy of recent stories (research projects) in ASEAN+3 (China, Japan, Korea) FTA (2001) incorporating trade, investment, services, policy reform and shocks
• Case Study 1: China
![Page 28: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/28.jpg)
CHINA TRADE WITH THE WORLD
Chart 1: China's Trade with the World
0
0.01
0.02
0.03
0.04
0.05
0.06
0.07
0.08
0.09
0.1
TA6Y
TJ P Y
TUSY
TEUY
TOZY
![Page 29: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/29.jpg)
CHINA GAINS FROM MULTILATERAL FTA (WTO 2001): More Exports
China's Gains from WTO Membership
0
10
20
30
40
Year
Expo
rts a
nd Im
ports
/GDP
XY
IMY
![Page 30: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/30.jpg)
GROWTH MODELLING EVALUATION:China Growth and China-Japan Trade
Chart 2B: Modelling China's Growth for Policy
0
2
4
6
8
10
12
14
16
1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002
Year
YCNC
YCNJ P2H
![Page 31: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/31.jpg)
GROWTH MODELLING EVALUATION:China Growth and China-ASEAN Trade
Chart 2C: Modelling China's Growth for Policy
0
2
4
6
8
10
12
14
16
1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002
Year
YCNC
YCNA62H
![Page 32: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/32.jpg)
HOW TO CARRY OUT A RESEARCH ON THE CAUSES OF TRADE IN ASEAN+3
• A Graphical Analysis
– Trade Causes Growth?– What Causes Trade?– Find the Causes of Trade– Alternative Approaches– Some Case Studies
![Page 33: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/33.jpg)
Chart 2: Modelling China-Japan Trade
-20
-10
0
10
20
30
40
50
60
70
Year
TJ P YC
TJ P YCF
![Page 34: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/34.jpg)
Chart 3: Modelling China-ASEAN Trade
-20
-10
0
10
20
30
40
50
60
Year
TA6YC
TA6YCF
![Page 35: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/35.jpg)
Chart 4: Modelling China-EU Trade
-30
-20
-10
0
10
20
30
40
50
60
Year
TEUYC
TEUYCF
![Page 36: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/36.jpg)
Chart 5: Modelling China-US Trade
-20
-10
0
10
20
30
40
50
Year
TUSYC
TUSYCF
![Page 37: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/37.jpg)
Chart 6: Modelling China-Australia Trade
-40
-30
-20
-10
0
10
20
30
40
50
Year
TOZYC
TOZYCF
![Page 38: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/38.jpg)
Reliability of Merchandise Trade Proxy inModels on China’s Trade with its Five Major Trading Partners
Openness (Exports+Imports)/GDP1981 to 2002
Model China-ASEAN China-Japan China-US China-EU China-Australia
CorrelationCoeff 0.98 0.98 0.96 0.97 0.94RMSE 3.83 3.6 3.23 4.15 6.42Mean Error 0.00 0.00 0.00 0.00 0.00Um 0.00 0.00 0.00 0.00 0.00Us 0.01 0.01 0.02 0.01 0.03Uc 0.99 0.99 0.98 0.99 0.97_____________________________________________________________________Notes. Ub+Us+Uc = 1. See Pindyck and Rubinfeld (1998) for further detail on these evaluation criteria. The estimates are based on TSP calculation.
![Page 39: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/39.jpg)
SUBSTANTIVE EMPIRICAL (ECONOMETRIC) FINDINGS 1
• Table 1• Impact of Trade, Services, FDI, Policy Reform and Shocks on China’s Growth• Generalised Gravity Theory in Flexible Structural Form• 1981 to 2001
China-ASEAN China-Japan China-US• Variables OLS 2SLS 2SHI OLS 2SLS 2SHI OLS 2SLS 2SHI
__________________________________________________________________________________________• Constant 9.30** 9.24** 8.93** 9.74** 9.40** 8.23** 9.78** 9.41** 8.80**• Openness/GDP 0.03** 0.03** 0.03** 0.02@ 0.02@ 0.02@ 0.04@ 0.05@ 0.05@• Services/GDP 0.01 -0.01 -0.01 0.003 -0.003 -0.003 -0.004 -0.02 -0.02• FDI/GDP 0.04** 0.05** 0.04** 0.04** 0.05** 0.04** 0.04** 0.05** 0.04**• Stock Crash 871.12@ 1.18* 1.14* 1.44 1.68* 1.58* 1.13 1.43@ 1.34@• China Turmoil 89 -6.97** -6.96** -6.73** -7.42** -7.28** -6.83** -7.46** -7.29** -6.82**• Gulf War 91 4.90** 4.70** 4.54** 4.45** 3.92** 3.68** 4.83** 7.53** 4.17**• China Reform 93 2.15** 2.32** 2.24** 2.33** 2.75** 2.58** 2.15** 4.46** 2.21**• Asia Crisis 97 -2.84** -2.79** -2.69** -2.67** -2.56** -2.40** -2.75** 2.36* -2.50**• R2 0.97 0.73 0.99# 0.96 0.91 0.98# 0.96 0.95 0.98• F 43.07** 39.57** 4.80** 25.57** 21.88** 5.49** 25.84** 21.06** 5.13**• DW 1.71 1.77 1.32& 2.10 2.15 1.36& 2.19 2.17 1.32&
![Page 40: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/40.jpg)
SUBSTANTIVE EMPIRICAL (ECONOMETRIC) FINDINGS 2
• China-EU China-Australia• Variables OLS 2SLS 2SHI OLS 2SLS 2SHI
_______________________________________________________________________________________________________• Constant 10.37** 10.10** 9 .35** 9.72** 9.61** 8.75**• Openness/GDP -0.009 -0.003 -0.003 0.01 -0.004 -0.004• Services/GDP 0.009 0.009 0.008 0002 0.003 0.003• FDI/GDP 0.04** 0.05** 0.04** 0.05** 0.06** 0.05**• Stock Crash 870.41 0.72 0.67 1.36 1.02 0.93• China Turmoil 89 -7.17** -7.25** -6.72** -7.59** -7.02** -6.40**• Gulf War 91 4.48** 4.35** 4.04** 4.56** 3.58** 3.26**• China Reform 93 2.66** 2.72** 2.55** 2.56** 3.35** 3.05**• Asia Crisis 97 -2.80** -2.75** -2.55** -2.76 -2.59** -2.36**• R Square 0.95 0.94 0.97# 0.95 0.93 0.97#• F 19.54** 18.64** 3.20** 19.88** 14.74 5.49** • DW 2.44 2.40 1.35& 2.24 2.42 1.21&
![Page 41: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/41.jpg)
HOW TO MEASURE REGIONAL/SECTORAL GAINS/LOSSES
FROM FTAS?
• The Required Share Data
– Global– National– Regional– Sectoral, etc
![Page 42: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/42.jpg)
REGIONAL/SECTORAL GAINS/LOSSES FROM FTAS?
• Modelling National Gains/Losses
• Modelling Regional/Sectoral Gains/Losses
Modelling More Disaggregated ActivitiesUrban and Regional Productivity/Wages
Income Inequality
Employment/Unemployment
Education and Jobs
![Page 43: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/43.jpg)
IMPACT OF NTMS
• An Important Current Research Subject for WTO and FTA Impact
![Page 44: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/44.jpg)
AUSTRALIA TRADE WITH THE WORLD AND ITS FUTURE & STRATEGY
Figure 1: Australia's Exports to the World
0
20
40
60
80
100
120
140
ALL EASTASIA
ASEAN NAFTA EU INDIA OTHER OECD APEC
Trading Blocs
$ B
illio
n
2002
2003
2004
![Page 45: YOUNG LEADERS TRAINING PROGRAM for Sustainable Development in Asia and the Pacific](https://reader035.fdocuments.us/reader035/viewer/2022062410/568157ef550346895dc567eb/html5/thumbnails/45.jpg)
Figure 2: Australia's Imports from the World
0
20
40
60
80
100
120
140
160
ALL EASTASIA
ASEAN NAFTA EU INDIA OTHER OECD APEC
Trading Blocs
$ B
illio
n
2002
2003
2004