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matt dowling

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I direct this question to the Minister and Shadow Minister of Trade. Australia was one of the first countries to embrace RIcardian economic theories, lowering trade barriers at the same time other countries... Show More | I direct this question to the Minister and Shadow Minister of Trade. Australia was one of the first countries to embrace RIcardian economic theories, lowering trade barriers at the same time other countries were developing competencies in sectors such as electronics and industrial manufacturing on the back of Goverment supported, export led strategies, which resulted in Australia's first mover advantage and capabilities in these sectors not being capitalised on. Fast forward to 2012 and Australians are now being charged inflated prices by foreign companies for goods which sell up to 50% cheaper in foreign markets. Prime examples are Apple iTunes products being sold twice the price in Australia than the USA and an Ikea desk three times the price in Australia than Sweden, you can find many more of these examples. When will the Australian Ministry of Trade protect Australians from these 'reverse dumping' policies of foreign companies, who are pricing their goods higher to the Australian market than to their local markets. Without creating huge disincentives for foreign companies to charge Australians above what they charge in their local markets, then the initial Ricardian logic of foregoing these industries in the first place based is severely compromised. Add comment

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