Opening up — not shuttering — markets will drive Australia’s post-COVID 19 recovery

Opening up — not shuttering — markets will drive Australia’s post-COVID 19 recovery. Despite this, many still doubt the merits of globalisation.

Globalisation sceptics have been emboldened by the pandemic. They claim it has exposed the overreliance of the Australian economy on foreign markets, and instead demand adopting a ‘Fortress Australia’ mindset.

Trade scepticism is historically and economically ignorant. Australia is a trade-dependent economy that has been enriched by open markets with our neighbours. Withdrawing from globalisation will impoverish us.

We’ve been here before. There’s some parallel between today’s vaccine nationalism — and stockpiling of medical supplies — and World War II’s onshoring…