US by J.R. BarichNews Weekly
economic integration defended (letter)
, May 22, 2004
Colin Teese (News Weekly
, May 8) has drawn attention to a very fundamental issue. Are we willing to be further integrated into the US economy?
We already do well on the Oscars and purchases of military equipment without outlaying a single dollar on research and development, but how much more of our economy should be integrated?
Some key factors for our consideration would be:
- Everybody is joining a trading block, so we need to follow suit - and what better than our Anglo-cousins with whom we have a military alliance, ANZUS?
- Economic integration is only loss of some economic sovereignty, not political sovereignty. We have responded very appropriately to the Iraq situation. Full involvement in the first phase and a less exposed one currently, with the result that the US has suffered over 700 deaths to our none.
- Given our geo-political situation, B.A. Santamaria concluded, based on the evidence of the planned invasion of Australia by Japan in 1941, that two Asian countries under certain circumstances could pose a threat to the independence of Australia - China and Indonesia.
We cannot, therefore, but deepen our relationship with the US. This will necessarily require the nuclear umbrella provided by the proposed ABM system. However, we should retain some degree of independence by a sufficient national investment in the economy and our separate defence structure.J.R. Barich,