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Maintaining open markets called key to nations' competitiveness

Maintaining open markets called key to nations' competitiveness

Taipei, March 22 (CNA) Countries with mid-sized populations, such as Taiwan and Australia, should capitalize on their free market systems and abilities to absorb foreign workforces to become competitive in the era of globalization, an award-winning Australian journalist said Friday. The two countries may not yet be able to leverage the world economy, as China or the United States do, but they could make themselves more appealing through well-regulated and free market systems, said George Megalogenis. The future labor market will be highly mobile, which is why an open market that encourages competition will naturally become the top choice for workers around the world, he said. To begin with, Megalogenis stressed that it is vital for both Taiwan and Australia to build a welcoming atmosphere toward foreign workforces, granting them fair immigrant status and treatment. Further, there should not be any difference in the attitude toward white-collar and low-end workers, he said. "You have to let them all in," Megalogenis said, adding that a more diversified labor dimension could prepare a market for product innovation and new ideas. Megalogenis made the comment at the invitation of the Australian Office Taipei, during his first trip to the country. His book, "The Australian Moment," which examines Australia's resilience to the global financial crisis, won the 2012 Walkley Book Awards for excellence in journalism. (By Lee Hsin-Yin)


Updated : 2021-07-24 20:27 GMT+08:00