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A STUDY ON FINANCIAL SERVICE TRADE BETWEEN AUSTRALIA AND CHINA
Author(s) -
FENGJUAN XIAO,
TURNER LINDSAY
Publication year - 2008
Publication title -
economic papers: a journal of applied economics and policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.245
H-Index - 19
eISSN - 1759-3441
pISSN - 0812-0439
DOI - 10.1111/j.1759-3441.2008.tb01026.x
Subject(s) - china , position (finance) , promotion (chess) , business , trade barrier , service (business) , financial services , negotiation , government (linguistics) , international trade , international free trade agreement , trade promotion , bilateral trade , international economics , finance , free trade , economics , politics , political science , marketing , linguistics , philosophy , law
This article analyses the current position and potential problems in the Australia—China financial service trade. The world's financial service trade is underdeveloped compared with world merchandise trade. Similarly, the Australia—China financial service trade is also underdeveloped compared with bilateral merchandise trade. The major reasons lie with the late development of bilateral financial service trade, weak promotion by the Australian Government and China's immature legal and market system. The conclusion offers suggestions on how both sides might achieve success in the area of financial service trade in the negotiation of a bilateral free‐trade agreement.