As politicians reaffirm their commitment to free trade at the G20 and APEC, this paper argues that they should make sure they practice what they preach. In Australia’s case, this means reforming restrictive rules on foreign direct investment. In a new report released by the Centre for Independent Studies on Thursday, economist Dr Stephen Kirchner argues that mistrust of foreign direct investment, or ‘capital xenophobia’, lowers Australia’s chances of attracting the productive capital that contributes to rising living standards.
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