The Financial Review, if it wishes to remain relevant, requires a monster dose of reality – a de-lousing of its misplaced strategic ideology and its craven acceptance of US strategic hegemony in Asia, a region where not one US state resides.
In the mid-1980s, a young and enthusiastic Michael Stutchbury was a permanent attendee at my often two-hour press conferences as treasurer, drumming into the Canberra press gallery that the presence of large economic forces was more important and more newsworthy than the gallery’s normal diet of election speculation, leadership changes, tax cuts and cigarette prices.
And Michael lapped it up. He was an early graduate of my school of advanced economic and entrepreneurial thinking. And while he has become more conservative as he has become older, his stewardship of The Australian Financial Review provides an attestation that those economic lessons were an anchor, a ballast, for the wider presentation and contemporary dissertation of economic news and events.
In short, Michael’s close proximity to and at the reformation of the Australian economy in the 1980s and early 1990s has made his views and leadership on economic issues today to be of substantial national value. But economic insight is where Michael’s experience shutters. On foreign policy, as in The AFR View ‘‘JAUKUS shows Australia seeks security in Asia’’ (April 9), Michael is away with the pixies – a sugar plum fairy in the Australian strategic fantasy.
And that fantasy goes to asserting that an Atlantic power, the United States, along with other Anglos, Britain and Australia, but topped up with some resentment sauce from Japan, in some way fashions a new Asia construct – a construct in which Australia is or can be part. Distorting my policy that Australia could find its security in Asia by being tied up and indentured to a particularly un-Asian bunch.
Unlike Europe, which after the Thirty Years’ War hit upon the Westphalian model of collective security among states of roughly equal size, Asia has always been a hierarchy of countries with China at its top. This remains the case today.
So, the policy of any nation, particularly a Pacific one, thinking it can deal with Asia by ignoring China or pretending it doesn’t exist or that it is in some way illegitimate, is a policy of fantasy. A policy of fools.
But if you are a sugar plum fairy, as in foreign policy Michael seems happy to be, you will believe almost anything. Like AUKUS nuclear subs will belong to Australia and be sovereign to it, despite US Deputy Secretary of State Kurt Campbell’s regular and blatant assertions that he expects the subs to be at the beck and call of the United States whenever it wishes to hop into China over Taiwan.
The Financial Review, if it wishes to remain relevant, requires a monster dose of reality – a de-lousing of its misplaced strategic ideology and its craven acceptance of US strategic hegemony in Asia, a region where not one US state resides.
First published in the Australian Financial Review, April 10, 2024.
A craven acceptance of US strategic hegemony in Asia
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10.04.2024
The Financial Review, if it wishes to remain relevant, requires a monster dose of reality – a de-lousing of its misplaced strategic ideology and its craven acceptance of US strategic hegemony in Asia, a region where not one US state resides.
In the mid-1980s, a young and enthusiastic Michael Stutchbury was a permanent attendee at my often two-hour press conferences as treasurer, drumming into the Canberra press gallery that the presence of large economic forces was more important and more newsworthy than the gallery’s normal diet of election speculation, leadership changes, tax cuts and cigarette prices.
And Michael lapped it up. He was an early graduate of my school of advanced economic and entrepreneurial thinking. And while he has become more........
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