Abstract
In spite of the massive growth in world trade, two-way trade between Australia and Latin America has not developed to the extent that could have been expected. This is in part because for decades there has been an enduring perception in Australia that Latin America (LATAM) is a difficult place to do business. Australia’s trade with Latin America has been stifled by a number of misconceptions that this paper attempts to dispel (see also Esposto 2014; Esposto & Pereyra 2013; Kath & Sanchez-Urribarri 2012; Transparency International 2014, 5; van der Eng & Kenyon 2014). The first is that, in the eyes of many Australians, doing business with Latin American countries involves dealing with stifling bureaucracies and at times corruption (Transparency International 2014). The second misconception is that Latin American countries are not complementary economies but competitors for Australian merchandise, especially in relation to mining and agricultural products (van der Eng & Kenyon 2014, 111). Indeed, this same perception appears to exist in the reverse direction; many Latin American countries similarly see Australia as an inherent competitor of merchandise trade. A third misconception is that geographical distance between the continents makes trade and sociopolitical relations difficult (Esposto & Pereyra 2013).
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Abbott, Malcolm. 2006. “United Kingdom—Australia/New Zealand Trade Relations.” Economic Papers 24: 314–330.
Blayney, Geoffrey. 1982. The Tyranny of Distance: How Distance Shaped Australia’s History. South Melbourne: Macmillan.
Bulmer-Thomas, Victor. 2003. The Economic History of Latin America since Independence. London: Cambridge University Press.
Calderon, Angel. 2012. Latin American Perspectives and Drivers for Tertiary Education Development: A PEST Analysis. London: The Observatory on Borderless Higher Education.
Clark, Manning. 1999a. A History of Australia, Volume I. Melbourne: Melbourne University Press.
Clark, Manning. 1999b. A History of Australia, Volume II. Melbourne: Melbourne University Press.
Commonwealth of Australia. 2007. “Tackling Wicked Problems: A Public Policy Perspective, Australian Public Service Commission.” Canberra. Accessed January 18, 2015. http://www.enablingchange.com.au/wickedproblems.pdf.
Commonwealth of Australia. 2012. Australia in the Asian Century, White Paper, October. Canberra. Accessed October 12, 2014. http://www.asiaeducation.edu.au/verve/_resources/australia-in-the-asian-century-white-paper.pdf.
Deloitte. 2014. “25 Reasons to be Confident about Growth.” Melbourne. Accessed January 18, 2015. http://www2.deloitte.com/au/en/pages/media-releases/articles/25-reasons-confident-about-growth-240314.html.
Department of Foreign Affairs and Trade (DFAT). 2013. “Trade In Services.” Canberra. Accessed January 18, 2015. http://dfat.gov.au/about-us/publications/Documents/trade-in-services-australia-2013.pdf
Department of Foreign Affairs and Trade (DFAT). 2014. “Trade Import and Export Classification Trade Statistical Pivot Tables.” Canberra. Accessed January 18, 2015. https://www.dfat.gov.au/publications/stats-pubs/pivot-tables.html.
Duncan, Tim and John Fogarty. 1984. Argentina and Australia: On Parallel Paths. Melbourne: Melbourne University Press.
Eiteman, David, Subhendu Rath, Kevin Daly, Michael Moffett, and Arthur Stonehill. 2011. Multinational Business Finance, 2nd Edition. French Forest: Pearson Australia.
Esposto, Alexis. 2014. “Latin America the Overlooked Trade Giant of Australia’s G20s.” The Conversation, November 15. Accessed January 18, 2015. https://theconversation.com/latin-america-the-overlooked-trade-giant-of-australias-g20–33944.
Esposto, Alexis, and Ricardo Pereyra. 2013. “Actual and Potential Trade Flows between Australia and Latin America.” Economic Papers: A Journal of Applied Economics and Policy 32 (4): 477–495.
Esposto, Alexis, and Fernando Tohme. 2011. “New Institutional Economics and the Performance of Nations: The Case of Australia and Argentina.” International Review of Business Research Papers 7 (4): 70–83.
Ferdig, Mary. 2009. “Sustainability Leadership Relational Model and Practices,” Omaha, NE: Sustainability Leadership Institute. Accessed June 15, 2015. http://www.sustainabilityleadershipinstitute.org/downloads/SLI_model_download.pdf.
Fien, John. 2014. “Chasing the Honey Bee: Enhancing Leadership for Sustainability,” Working Paper No. 4, Swinburne Leadership Institute Working Paper Series. Accessed November 15, 2014. http://www.swinburne.edu.au/leadership-institute/resources/docs/working-papers/SLI_working_paper_No_4_May_2014_web.pdf.
Fien John, and Sam Wilson. 2014. “Leadership Tools for Wicked Problems,” Working Paper No. 3, Swinburne Leadership Institute Working Paper Series. Accessed November 15, 2014. http://www.swinburne.edu.au/leadership-institute/resources/docs/working-papers/SLI_working_paper_No_3_May_20l4_web.pdf.
Frankel, Roger. March 28, 2014. “Leadership in building relations with Latin America.” Speech Presented at the Swinburne Leadership Institute Symposium “Rediscovering El Dorado: Leadership in Building Relations with Latin America,” Swinburne University.
Gerchunoff Pablo, and Pablo Fajgelbaum. 2006. Por qué Argentina no fue Australia? una hipótesis sobre un cambio de rumbo. Siglo XXI Ediciones.
González, German H., Alexis S Esposto, and Valentina N. Viego. 2015. “Reciprocity in Bilateral Trade Flows: An Empirical Analysis for Trade between Australia and Latin American Countries.” Applied Econometrics and International Development 15 (1). Accessed July 27, 2015. http://www.usc.es/economet/journalsl/aeid/aeid1513.pdf.
Hughes, Robert. 1987. The Fatal Shore. London: Butler and Tanner Limited.
Kath, Elizabeth, and Raul Sanchez-Urribarri. 2012. “Australia finally ‘discovers’ Latin America; time now to forge relationships.” The Conversation, September 20. Accessed January 18, 2015. http://theconversation.com/australia-finally-discovers-latin-america-time-now-to-forge-relationships-9481.
Krugman, Paul, Maurice Obstfeld, and Marc Melitz. 2012. International Economics Theory and Practice, 9th edition. Boston: Pearson Education.
Madura, Jeff. 2012. International Financial Management, 12th edition. Ohio: South-Western Cengage Learning.
McDonald, Daniel, Roneel Nair, Gil Rodriguez, and Benjamin Buetre. 2005. “Trade Flows between Australia and China: An Opportunity for a Free Trade Agreement”. Paper presented at the 49th Annual Conference of the Australian Agricultural and Resource Economics Society, Coffs Harbour, New South Wales, February 9–11, 2005. Australian Bureau of Agricultural and Resource Economics. Accessed November 15, 2014. http://ageconsearch.umn.edu/bitstream/137935/2/2005_mcdonald.pdf.
Museum of Australian Democracy. 1787. “Governor Phillip’s Instructions, 25 April 1787 (UK).” Accessed January 18, 2015.
New National Australian Encyclopaedia (NNAE). 1974a. Volume 2. Hong Kong: Horwitz Group Books Pty Ltd.
New National Australian Encyclopaedia (NNAE). 1974b. Volume 4. Hong Kong: Horwitz Group Books Pty Ltd.
New National Australian Encyclopaedia (NNAE). 1974c. Volume 6. Hong Kong: Horwitz Group Books Pty Ltd.
North, Douglas. 2005. Understanding the Process of Economic Change. Princeton, NJ: Princeton University Press.
OECD/UN—ECLAC/CAE 2014. Latin American Economic Outlook 2014: Logistics and Competitiveness for Development. Brussels: OECD. Accessed October 14, 2014. http://www.latameconomy.org/fileadmin/uploads/laeo/PDF/EN%20Pocket%20Edition%20LEO20l4.pdf.
Public Record Office Victoria (PROV), Archives of the State Government. 1859. Victorian Imports and Exports, Figure 1. Accessed May 12, 2014. http://prov.vic.gov.au/publications/provenance/provenance2012/lowe-kong-meng.
Reeves, Nigel B. R. 1990. “The Foreign Language Needs of UK-Based Corporations,” The Annals of the American Academy 511 (1990): 60–73.
Reyes, Francisco. 2006. “Corporate Governance in Latin America: A Comparative Law Perspective,” Background paper to the LSU Law Center Conference: “Mediating the Divide: Challenges to Hemispheric Trade Posed by the Common Law/Civil Law Divide,” April 25–27, Louisiana State University. https://users.wfu.edu/palmitar/Courses/ComparativeLaw/CourseReadings/Corporate%20gov%20in%20LA.pdf.
Transparency International. 2014. Transparency International Corruption Perceptions Index 2013. Berlin. Accessed December 20, 2014. http://www.ey.com/Publication/vwLUAssets/EY-Transparency-International-Corruption-Perceptions-Index-2013/$FILE/EY-Transparency-International-Corruption-Perceptions-Index-2013.pdf.
United Nations Conference on Trade and Development (UNCTAD). 2014. Global Investment Trends Monitor Number 15, UN Publications New York and Geneva. Accessed January 2, 2015. http://unctad.org/en/PublicationsLibrary/webdiaeia20l4dl_en.pdf.
van der Eng, Pierre, and Kenyon, D. 2014. “Australia-Latin America Trade and Business Relations.” In Australia and Latin America Challenges and Opportunities in the New Millennium, edited by Barry Carr and John Minns, Canberra: Australia National University Press.
Editor information
Copyright information
© 2016 Elizabeth Kath
About this chapter
Cite this chapter
Esposto, A., Fien, J. (2016). Rediscovering El Dorado: Australia’s Past and Future Trade Relations with Latin America. In: Kath, E. (eds) Australian-Latin American Relations. Palgrave Macmillan, New York. https://doi.org/10.1057/9781137501929_6
Download citation
DOI: https://doi.org/10.1057/9781137501929_6
Publisher Name: Palgrave Macmillan, New York
Print ISBN: 978-1-137-50191-2
Online ISBN: 978-1-137-50192-9
eBook Packages: Political Science and International StudiesPolitical Science and International Studies (R0)