People In The Know

After years of negotiations, the free trade agreement between China and South Korea and that between China and Australia have both taken effect on Dec. 20.The China-Australia FTA means that tariffs will be lifted on 95 percent of Australian exports, hurdles will be lowered for Chinese businesses to invest in Australia and more visas will be granted for Chinese visitors.Australia is also a member of the US-led TPP signed earlier this year. How will Australia handle its position of standing in between the US and China?First, PIK talked with Professor James Laurenceson, Deputy Director of the Australia-China Relations Institute, University of Technology SydneyDespite the concerns over employment, the China-Australia FTA is widely popular with the general public, agricultural sectors and service sectors.What about the FTA between China and South Korea? Under this deal, Seoul and Beijing will each eliminate tariffs on more than 90 percent of traded goods within 20 years after the implementation of th