Unleash the North

Northern Australia's potential is being wasted. The northern half of Australia is used for precious little, other than grazing cattle and as a backdrop for the film industry. In general free trade zones are defined as a specific designated area where lower taxes and a decreased regulatory burde...

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Veröffentlicht in:Review (Institute of Public Affairs (Australia) : 1997) 2010-08, Vol.62 (3), p.38-41
Hauptverfasser: Wilson, Tim, Griffiths, Elizabeth
Format: Artikel
Sprache:eng
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Zusammenfassung:Northern Australia's potential is being wasted. The northern half of Australia is used for precious little, other than grazing cattle and as a backdrop for the film industry. In general free trade zones are defined as a specific designated area where lower taxes and a decreased regulatory burden are used to stimulate economic growth and development. Political priorities to increase a country or empire's strategic position and harm the economic interests of their competitors were often achieved through the development of free trade zones. The legacy of free ports can be seen today. The impact of free ports has been extensive in the economic rise of modern nations. A north Australia free trade zone should be privately run and owned. Stimulating investment to develop northern Australia is challenging, but there is no need to reinvent the wheel. Australia can learn from international experience and create free trade zones to stimulate investment and economic activity in under-developed geographic regions.
ISSN:1329-8100
1836-1889