Outstanding issues in bilateral economic relations between Australia and South Korea
This article examines and analyses the main issues in the current bilateral economic relations between Australia and South Korea, particularly focusing on the Korean perspective. Above all, the trade imbalance continuously favouring Australia has been an issue of great concern on the part of South Korea. Australia and South Korea have shown disagreement over the lopsided trade issue, regarding attitude, approach and standpoint in addressing it. While the Korean side broadly converges on the view that the bilateral trade imbalance needs to be redressed, there are four differing viewpoints on explaining the lopsided bilateral trade: (i) the Korean government's view; (ii) the Korean business sector's view; (iii) the relevance of culture; (iv) Korea's favourable perception of Australia. This paper seeks to answer an important question in the context of the two nations' economic/trade relationship: why South Korea has ever engaged with Australia on good terms, albeit with disadvantageous trade relations. In this case, the nexus of economics and politico‐security is largely in action. That is, on one plane, South Korea is ranked as an important trading partner and a major export market of Australia. On another plane, South Korea politically needs strong allies like Australia which can give an unswerving support for it in both the regional and international arenas.
The Interface Between Australia-Korea Economic Relations and Security Policy
This article analyzes recent trends in Australia-Korea economic relations and considers their interface with security issues in the Asia-Pacific region. Bilateral merchandise trade has slowed in the last decade due to a decline in economic complementarity. Services trade remains limited with most flowing from Australia to Korea. Bilateral FDI is low and accounts for only a minor proportion of respective total inflows. The Korea-Australia FTA currently under negotiation is expected to reinvigorate and diversify the economic relationship. The article assesses that any security implications for Australia-Korea commercial relations are likely to come from external sources such as the strategic uncertainty surrounding the rise of China, various destabilizing issues emanating from North Korea, Japan's possible military 'normalization' and a range of transnational security issues. The bilateral partnership was strengthened in March 2009 by the launch of the FTA along with a Joint Statement on Enhanced Global and Security Cooperation. Current trends suggest that the bilateral relationship will grow closer in the twenty-first century. As open and constructive middle powers with strong relationships with both Washington and Beijing, Australia and South Korea can play a cooperative role in moderating strategic tensions in the Asia Pacific region as China continues to increase its power and influence.
The Consortium of Graduate Medical Schools in Australia: formal and informal collaboration in medical education
In 1996–97 three Australian medical schools adopted 4‐year graduate medical courses. The schools formed a consortium to establish common admissions processes and to collaborate on curriculum and staff development.