Free Trade Agreement Between Australia And China (ChAFTA)

Question: Discuss about the Free Trade Agreement Between Australia and China. Answer: Overview of the two Articles The articles are related to the signing of the free trade agreement between Australia and China after conducting the negotiations for almost a decade. The FTA covers the next phase of Australias economic relationship with China (Ausralian Government, 2016). The areas covered in the negotiations included the easier accessibility of the markets to the service sector, the most-favoured nation status and simplified procedures for the review of investments. This agreement will help in increasing market accessibility of Australias wine and beef exporters and also provide a boost to the electronics and carmakers of China willing to sell their goods in Australia. The first article suggests that for Australian economy this agreement will be worth billions and will help in boosting jobs. It also suggests that as per this deal over 85%of the exports of Australian goods will free of tariffs and will increase to 95% when fully implemented (Conifer, 2015). The second article suggests that the agre ement will be more than only exports and tariff reduction but also regarding the clause of investor-state dispute settlement (ISDS) which have raised concerns (Hurst, 2015). Overall the first article highlights only the pros while the second article highlights the pros and the cons. Writer of the two articles and for whom they are written and the significance of this Both the articles highlight the benefits of the free trade agreement with China to the Australian economy. The first article is written by the political reporter of ABC News, Dan Conifer for the newspaper that provides news throughout Australia. This is significant because it indicates only the benefits that the Australian businesses and people will be deriving out of this agreement. The second article is written by the political correspondent of The Guardian, Daniel Hurst mainly for a greater number of international audience. This is significant because it also stresses on the other side of the coin also apart from the benefits. It discusses certain concerns related to the FTA which were not covered by the Australian media. Since, it is meant more the people of a nation that is not a part of the agreement, it tries to take a more balanced approach. Thus, the two articles discuss the significance of the FTA from two different perspectives. Publisher of the two articles and why is it significant The two articles deal with the same topic of FTA between Australia and China. The publisher of the first article is the ABC News of Australia. This is significant because they are publishing news mainly for the Australians and hence their views primarily deal with the significance which this agreement holds for Australian businesses. Since, it is a local newspaper of Australia, it needs to be more cautious while portraying the negative aspects as they might have the power of fuelling resentment among the businesses and the people. Being a mixed economy a imposing presence of the Government is present in Australia. The publisher of the second article is The Guardian newspaper of the UK. This is significant because it is publishing news for a neutral country and mostly for the international audience and the overall impact of this FTA on the world and hence it has to adopt a more balanced approach rather than the perspective of just one nation or political party. The positive aspects ar e thus the highlight of the local newspaper of Australia while both positive and negative aspects are highlighted in the case of the neutral media. Underlying Assumptions, Values, and Ideologies in the two articles The underlying assumptions, values as well as the ideologies of the two articles are in fact a reflection of the political ideologies. Political ideologies are considered to be a belief system related to the political system and the ideal society. They include the viewpoints regarding the relative significance of the individuals as well as the society along with the role that the government and also the market plays (Wallace, 2008). It can also be said to be the systematic representation of the power of ideas or those idea sets which give shape to the thinking and also actions of the people in terms of nationality, race and the governments function and role, the responsibility of the humans towards their natural environment and the relationships that exist between men and women (Ball Dagger, 2006). The economy of Australia is a mixed one and hence the Government has a presence that is imposing (Birmingham, 2008). The first article is an indication of the combination of competitive a s well as coordinated capitalism that exists in Australia. An expectation is there that accessibility to employment will be there along with a minimum living standard as well as the protection of rights. The government is expected to take care of all this. It shows that the operation of businesses today is across societies and in the jurisdictions of various governments which can regulate the businesses. The second article is a reflection of a different set of political ideologies and hence it discusses the article is discussed from that perspective. Choice of the Articles and the Concepts demonstrated by them The articles have been chosen keeping in mind the relationships that exist between the Government and the business particularly in the case of Australia. The first article is chosen from an Australian newspaper so that it reflects the role that is played by the Government in case of trade agreements from the perspective of the Australians. What are the benefits that are being expected by the businesses in Australia as a result of this FTA which their Government has signed with China. FTAs play a crucial role in the reduction of trade barriers (Karmakar, 2013). This concept is reflected by the first article which shows the way the Australian Government has achieved that. The second article is selected from a British newspaper as it will reflect the news from the perspective of both the businesses and the trade unions of Australia and also put forth the drawbacks which might not be highlighted by the local newspapers. It also discusses its significance for the other nation China. Thus, the concept covered by the first article is the impact of the FTA on the businesses and local people in Australia and highlights the capitalism of the country, while the second article covers the concept of its impact on the workers also. References Ausralian Government. (2016). China Australia : Free Trade Agreement. Retrieved September 5, 2016, from Australian Government: https://dfat.gov.au/trade/agreements/chafta/Pages/australia-china-fta.aspx Ball, T., Dagger, R. (2006). Political Ideologies and the Democratic Ideal. New York: Pearson Longman. Birmingham, M. (2008). Evidence-Based Policy and Mixed Economy in Australia. Electronic Journal of Business Ethics and Organisation Studies , 12-18. Conifer, D. (2015, JUne 17). Australia and China sign 'history making' free trade agreement after a decade of negotiations. ABC News . Hurst, D. (2015, June 17). China and Australia formally sign free trade agreement. The Guardian . Karmakar, S. (2013, August 1). Economic Significance of FTAs. Retrieved September 5, 2016, from etsg.org: https://www.etsg.org/ETSG2013/Papers/406.pdf Wallace, R. (2008). A Review of: Political Ideologies and the Democratic Ideal". Journal of Political science Education , 372-373.