The post-war multilateral framework of international finance, trade and law is being changed or replaced to accommodate China’s re-emergence as a great power. Within our region, China is already the greatest trading nation and is set to become the dominant provider of capital in the medium term and its laws are likely to increasingly regulate capital flows and trade.
All of this means that profound change is coming for Australia from the top down and the bottom up. Unless we prepare, Australia could lose real leverage in that trade and foreign policy environment. Our current approach to trade and foreign investment is market orientated, relies upon the existing multilateral framework and benefits from standard choice of law provisions that privilege familiar common law jurisdictions (i.e. England and New York). That approach will be put under increasing pressure as China’s role on the world stage and within our region grows.
Chris’ presentation will look at these trends, together with the impact of recent changes to Australia’s laws concerning foreign investment, influence and interference, and offer some future-proofing ideas.