2025 Australian Election Update
(00:00:15):Welcome to The Chair.(00:00:16):I'm your host, Dr. Vicky James Wren.(00:00:18):And today we're having a quick look at the Australian election and our Labor's(00:00:21):leading in the polls by about 10 points.(00:00:25):But what that really means is if they lose five, it's going to be 50-50.(00:00:27):So 45 to 55 for Labor.(00:00:28):Now, Australia is in trouble.(00:00:36):the economy is going to have and look the imf said this quite a few years ago uh 10(00:00:41):years of declining living standards so now labor has gone from a couple of a couple(00:00:46):of surpluses for the last few years now it's running going to go straight back into(00:00:50):deficits and that money is going to be going into health care(00:00:55):renewables, education, and the biggest one, of course, defense.(00:01:02):Why, of course, I'm not really sure why, of course, but housing is also big.(00:01:07):Medicare, so giving better medications and so forth.(00:01:12):All that's going to come under(00:01:14):conflict with the Trump administration's policies towards Australia and as I said(00:01:18):with the aluminum or aluminium as the Australians say that's going to be(00:01:24):problematic as well look it's very small percentage of GDP but you know it's the(00:01:27):compound effect of all of the tariffs and the effect of the tariffs on other(00:01:33):countries which trade with Australia and that's primarily China of course(00:01:37):And so the boom,(00:01:38):sort of the mini boom,(00:01:40):let's say,(00:01:40):that's been going on with minerals,(00:01:41):you know,(00:01:42):there was a really big boom back in the 90s and 2000s,(00:01:45):but that's over.(00:01:46):But in the last few years,(00:01:47):there's been another boom as China's economy has switched into the new productive forces,(00:01:53):EVs,(00:01:53):of course,(00:01:54):and solar panels and so forth.(00:01:55):And now Australia is also transitioning and they rely on China for that.(00:02:00):There's nowhere else they're going to be able to get this,(00:02:03):you know,(00:02:03):affordably,(00:02:03):so good,(00:02:04):fast and cheap,(00:02:05):right?(00:02:06):So that is the permanent dilemma the Australian government is in,(00:02:09):balancing their security arrangements with the Americans,(00:02:11):with their trade relationship with China.(00:02:14):Now,(00:02:15):China is far and away the biggest trade partner of Australia,(00:02:19):and the budget doesn't really mention that,(00:02:23):according to all of the information that I've been able to access.(00:02:26):And you can read this in the ASEAN Chair.(00:02:29):ASEAN Chair that has released...(00:02:32):once a week there's updates on that there are other updates daily you can check(00:02:36):daily but what we're looking at here is a very difficult election look I think(00:02:41):Labor's probably going to win it I'll call it and say they're going to win but it(00:02:44):look it could be very very narrow win and it's possible that the Greens may hold(00:02:48):the balance of power or the teals as well which is you know young educated urban(00:02:52):elites may hold the balance of power in the Senate and(00:02:57):And an unlikely outcome,(00:02:58):but possible outcome,(00:02:59):is that they may hold the balance of power in the House as well.(00:03:02):That is not good because,(00:03:04):as we can see,(00:03:05):it's happened in Europe with all of the political turmoil in Europe.(00:03:09):Weak coalitions just cannot hold against the tariff and Trump effect.(00:03:16):And so I think that's also true here in Australia.(00:03:20):So one has to look very, very carefully at that.(00:03:23):So if you're voting, just keep that in mind.(00:03:27):Donald Trump really was asked the other day about AUKUS and he had to ask the journalist,(00:03:31):what does that mean?(00:03:32):He didn't really know.(00:03:33):Now,(00:03:33):it doesn't mean he doesn't know about submarines and he doesn't know about(00:03:35):Australia's importance to the American security framework,(00:03:38):you know,(00:03:38):forward posture into Asia.(00:03:40):And that's what it is, forward posture.(00:03:42):You know,(00:03:43):I'd be very,(00:03:44):very worried about listening to John Anderson's podcast and YouTube channel where(00:03:50):he interviewed the former Home Affairs Minister of Australia and they(00:03:54):They were talking about a tyrannical China and Australia can't live with a China(00:03:58):like that and so forth and so on.(00:03:59):But this is absolutely not true.(00:04:00):Look,(00:04:00):China is not in any way interested in invading Australia or taking over Australia(00:04:07):or anything else.(00:04:08):What China is interested is stability.(00:04:10):And Australia needs to be in stability as well.(00:04:13):And the greatest source of instability in the world today is the United States.(00:04:17):So this security arrangement...(00:04:18):and the exorbitant,(00:04:20):and I mean ultra-exorbitant cost of these submarines,(00:04:23):which is basically just three really old Virginia-class American submarines based(00:04:28):out of Western Australia and possibly some others based out of Wollongong or south(00:04:32):of Sydney on the East Coast.(00:04:34):uh i mean they're just american submarines being based out of australia uh there's(00:04:38):technical upgrading and all that sort of thing for the australians so nuclear(00:04:42):energy and things like that and the liberals uh you know the opposition they're(00:04:46):promoting nuclear energy which is really not going to work very well but there is(00:04:50):concerns of course about the(00:04:52):the grid and being able to give stable enough energy and low cost for consumers but(00:04:57):stable enough energy for you know the AI wave that's happening right now.(00:05:02):Huge data centers need really reliable power and they quite often need enormous(00:05:08):water resources for cooling and that means being able to build desalination plants(00:05:13):in Australia's case because water is something Australia does not have a lot of.(00:05:17):Now, let's think about China and its Australian exports.(00:05:21):Australia is going to maintain and to get growth because it's anemic at the moment.(00:05:27):To get growth, Australia is going to have to have a better relationship with China.(00:05:31):And so the Trump tariff effect and...(00:05:34):the new cabinet that he has,(00:05:37):Hegseth as a military defense secretary,(00:05:41):Marco Rubio,(00:05:42):who's,(00:05:42):you know,(00:05:43):basically a neocon,(00:05:45):totally anti-China.(00:05:47):He's going to try and play Philippines.(00:05:48):He's going to try and play Taiwan.(00:05:50):But Australia cannot be falling into that.(00:05:52):Now, Albanese, he has, and his government has...(00:05:55):navigated a careful path along that line,(00:05:58):but how much further they can go is going to be difficult.(00:06:01):But look,(00:06:02):I can see right now that although public opinion is not really changing(00:06:08):definitively toward China,(00:06:12):mainly because of the Rupert Murdoch News Corporation effect,(00:06:15):which dominates Australian media to an extraordinary amount,(00:06:20):And the idea that the ABC, that's the national broadcaster, needs to keep a measure of balance.(00:06:27):But it's not really watched by most Australians.(00:06:31):The mediascape is still anti-China and I think that's the next step that has to change.(00:06:36):But Twiggy Forrest,(00:06:37):one of the richest men in Australia who owns enormous iron ore mines in Western(00:06:43):Australia and made his fortune in the iron ore to China trade and is still doing(00:06:48):very well with that,(00:06:49):has just succeeded in suing Meta or Facebook for things related to using his image(00:06:56):uh for scams so online scamming being run by facebook and not just in australia but(00:07:03):globally uh and as it puts that puts a very bad light on on the scams that have(00:07:09): Get full access to ASEAN Chair at aseanchair.substack.com/subscribe