Protection is the ‘new competition’

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He says neither Australia nor other like-minded nations implementing IRA-style schemes – such as the US, Canada, Korea, Japan and the European Union – were walking away from global markets or the rules-based order. “But we must recognise there is a new and widespread willingness to make economic interventions on the basis of national interest and national sovereignty,” he will say. “Critically, none of this is merely being left to market forces or trusted to the invisible hand.” Pillars of re-election The rebadging of new and existing policies under the new Act also aims to crystallise a political narrative going...