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This Thesis Is Presented for the Degree of Doctor of Philosophy of Murdoch University N eoliberalism and Australia's Economic Relationship with Japan: Policy Paradigms in a Global Political Economy This thesis is presented for the degree of Doctor of Philosophy of Murdoch University 1996 Mark Beeson B.A Honours (Murdoch) ii I declare that this thesis is my own account of my research. It contains as its main content work which has not previously been submitted for a degree at any university. iii Abstract The increasing internationalisation and integration of global economic activity has meant that the way nations seek to manage and accommodate such external imperatives is a critical determinant of national economic welfare. There has, however, been a notable variety of responses to these ubiquitous forces. In Australia, neoliberal ideas came to exert a powerful ideational influence over policy-makers during the 1980s as they attempted to reposition 'Australia' in response to the exigencies of external competition. This thesis will argue that Australian policy makers' commitment to neoliberal ideas meant that policy was constructed within a limited set of theoretical parameters, which were unable to take account of the specific corporate and governmental practices of major trading partners. The thesis analyses the utility and effect of neoliberal ideas on the conduct of Australia's international economic relations, with particular reference to Japan. Japan is Australia's principal trading partner, an important potential source of investment capital, and the dominant economic actor in a region with which Australian policy­ makers seek greater 'integration'. This important economic relationship provides an appropriate case study with which to test the efficacy of the neoliberal model and the assumptions that inform it. It will be demonstrated that some of the central concepts and assumptions of neo-classical theory, which are central to the discourse of neoliberalism, bear little resemblance to commercial practices in the region of which Australia is a part. In the course of this study, it will be argued that the dominance of neoliberal ideas may be best understood by considering their discursive influence, particularly as this was reinforced by an influential group of academics and government officials. The theoretical assumptions of these ideas will be examined, and the preconditions that rendered them attractive at a specific historical juncture detailed. It will be suggested that neoliberal ideas informed a specific political rationality which had discernible effects on a range of policy issues in Australia, but which was especially evident in the area of external economic policy. iv Acknowledgments While it may be obligatory to acknowledge help and assistance in an undertaking such as this, my gratitude and thanks are, nevertheless, genuine if inadequate acknowledgment of much generous assistance. I would like to express my alphabetical appreciation to the following colleagues and friends who made especially helpful contributions to the completion of this thesis: Bruce Campbell, Mark Cloney, Richard Higgott, Jane Hutchison, Dick Robison, lllan Warchiver, and Gary Wickham. In addition I would like to acknowledge the support given by the staff of the Politics Department, the Asia Research Centre, and the participants in the Centre's post-graduate seminar series. Two people merit particular thanks. As the thesis progressed, it became increasingly apparent just how critical is the role of a supervisor. In this regard I was especially fortunate in having someone who not only gave generously of his time and energy, but was a crucial source of both intellectual and motivational support. Thanks indeed to Garry Rodan. Finally I would like to acknowledge the invaluable contribution Ann Firth, who not only provided incisive commentary on earlier drafts of this work but, perhaps equally as important, the emotional support and encouragement that helped me get to the end of it. Again, many thanks. v Abbreviations ABS Australian Bureau of Statistics ACA Australian Coal Association ACTU Australian Council of Trade Unions AJRS Australia-Japan Research Centre ALP Australian Labor Party AMC Australia Manufacturing Council AMWSU Amalgamated Metal Workers' Union APEC Asia Pacific Economic Cooperation ASEAN Association of Southeast Asian Nations AUSPECC Australian Pacific Economic Cooperation Committee BIE Bureau of Industry Economics BoJ Bank of Japan CFMEU Construction, Forestry, Mining & Energy Union DFAT Department of Foreign Affairs and Trade DITAC Department of Industry, Technology and Commerce EFIC Export Finance and Insurance Corporation ETMs elaborately transformed manufactures EU European Union FDI foreign direct investment FIRB Foreign Investment Review Board GPE global political economy IC Industry Commision lAC Industry Assistance Commision JETRO Japan External Trade Representative Organization vi LOG less developed countries LOP Liberal Democratic Party LNG liquefied natural gas MITI Ministry of International Trade and Industry MoF Ministry of Finance MFP Multifunction Polis MTIA Metal Trades Industry Association NEDO New Energy and Industrial Technology Development Organisation NIE newly industrialising economy OECD Organization for Economic Co-operation and Development OPTAD Organisation for Pacific Trade and Development PAFTAD Pacific Trade and Development Conference PBEC Pacific Basin Economic Council PECC Pacific Economic Cooperation Council PM&C Department of Prime Minister and Cabinet SES Senior Executive Service STMs simply transformed manufactures vii Contents Page Abstract ..................................................................................................... iii Acknowledgements ................................................................................... iv Abbreviations .............................................................................................. v Contents .................................................................................................... vii Tables ................................ ................................................................ ........ xi Introduction ........... ..................... ........................................................ ........ 1 Chapter 1: The Global Political Economy ..... .... ....................... 7 Part 1: International Economics ................................ ............. .... 9 Production and Labour ................................ ............. ........... 13 Ford ism and Flexible Production ........................... ..... ......... 15 Transnational Corporations ................................ ................. 17 The Circuits of Capital. ........................... ........................... ....20 Part 2: International Politics ................................ ........... ......... 23 Theories of the State .............. .................. ........................... 25 TNC-Government Relations ................................ ................ 27 Inter-state Relations ............. ................... ............................. 29 Hegemonic Stability and Structural Power ........................... 31 The Neo-Gramscians .............................. .. ........................... 35 Conclusion ................................ .............................................. 39 Chapter 2: Neoliberal Governance ........................................................... 41 Neoliberalism as a Political Rationality ................................ ... 43 Political Rationality . .... ... ........................ ...... ....................... .. 45 Discourse Theory ... ............... ...... ........ ......... ........... ........... 47 Neoliberal Theory ................................ .... ............................... 49 The Neo-classical Influence ............................................... 51 Neo-classical Assumptions .......................................... ........ 54 Neoliberalism: A Critique ................................ ..................... 56 The Political Effects of Neoliberalism ... ............................. .... 59 Expertise .... ............................ ... .... ....................................... 62 The Political Implications of Expertise ................ ................ 64 Conclusion ................................ ...................................... ........ 68 viii Chapter 3: The Rise of Neoliberalism in Australia ........... ................ ..... .... 72 The Historical Backdrop ..... ........................... ......................... 73 Australian Economic Structures ..... .................. ........ ... ............. 75 The Politics of Structural Adjustment ............. ............ ....... ....... 80 Bureaucratic Structures and Expertise .................................... 85 Bureaucratic Reform .............. ...... ..... ..... .. .... ..................... ....... 87 Policy Implementation ..... .. ...... ... ......... .. ... .............................. 91 Political Pressures .... ............................ ....................... .... ........ 95 Neoliberalism and the 'Big Picture' .. ............................ .. .... .... 99 Conclusion ................................ ............................................. 1 01 Chapter 4: Understanding 'Asia': The Theoretical Debate ....... .............. 1 04 Epistemic Communities ............... ..... ... ......... ......... ............... 1 05 The Drysdale Line . ........ ............. .... .... ..... .......... ..... ............ 110 The Garnaut Report .............................
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