The paper "Australia and Asia Century" is a perfect example of a business case study. In the 21st century, it is evident that Asia is changing the world and people all over are benefiting from the profound implications. One great example is, Australia has benefitted in its society, economy and strategic environment. For the last 20 years, both India and China have tripled what they give to the economy globally. It is estimated that by 2025 the Asian region will make up half of the world’ s production (Mandal, 2013, p.
23). Australia has a good chance of utilizing the opportunities flowing from Asia to the fullest. This is because Australia is among the countries with the strongest economy and has a positive outlook: Its Government does not have a lot of debt, it has strong financial public finances, and it also has a multicultural, talented and creative population that has shown the high capability of coming up with new and innovative ideas. The Australian in the Asian Century White Paper has tremendously played a huge role for Australia to focus on policy debates that surround regional engagement.
The white paper can be considered as the first strategic and political document to show the direction as well as self-perception of Australia (Mandal, 2013, p. 13). Even though the opposition government had criticisms on the white paper stating that it did not have a strategic vision, it went on to state that it has impressive goals and aspirations. Therefore, this paper focuses on bringing out both the opportunities and challenges that the Asia century gives to Australian society in relation to the white paper of 2012. The Asia century gives great opportunities to Australia which shows the white paper was a great idea to be implemented.
First of all, all Australians will get equal opportunities to get skills and education that they will use to develop a strong economy and a better society. Australians should have Asian relevant capabilities that will lead to specialized skills depending on their individual choices. These capabilities are essential as they will be needed in advancing the economy and create more job opportunities as the year's pass.
Australian trade and investment commission, 2016. Dollar depreciation and export
performance. Retrieved on 18th October from http://www.austrade.gov.au/news/economic- analysis/dollar-depreciation-and-export-performance
Gilley, B., & O'neil, A. 2014. Middle powers and the rise of China.
Johnson, C., MACKIE, V. C., & MORRIS-SUZUKI, T. 2015. The social sciences in the Asian century. http://www.jstor.org/stable/10.2307/j.ctt19705xz.
Kainikara, S. 2008. Australian security in the Asian century. Tuggeranong, ACT, Air Power Development Centre.
Macdonald, G., Yow, Y. S., & LI, X. 2009. Innovation in China: the dawning of the Asian century. London, England, Adonis & Abbey.
Mandal, P. 2013. Proceedings of the International Conference on Managing the Asian Century ICMAC 2013. Singapore, Imprint: Springer.
Parkinson, M.2012. Challenges and opportunities for the Australian economy. Retrieved on 18th October 2016 from http://www.treasury.gov.au/PublicationsAndMedia/Newsroom/Speeches/2012/Challenges-and-opportunities-for-the-Aust-economy
Setyorini, F. 2013. Challenges and opportunities for Indonesia and Australia relationship in the Asia Century. Retrieved on 19th October 2016 from https://goliveindonesia.com/2013/05/23/challenges-and-opportunities-for-indonesia-and-australia-relationship-in-the-asian-century/
Setyorini, C. (2016). Australia’s analytics opportunities in the Asian century. Retrieved on 19th October from http://www.iapa.org.au/Article/AustraliaSAnalyticsOpportunitiesInTheAsianCentury