Foreign trade must not be sacrificed in response to global pandemic

The English poet Edward FitzGerald wrote of the phrase “This, too shall pass” in these words: “How chastening in the hour of pride! How consoling in the depths of affliction!” Wise words.

The immediate health crisis will pass. Nearly all of our attention is being taken by the health aspect. Governments are also grappling with the broader effects on the economy. There are job losses, supply problems, demand problems and a looming financial crisis. Those flow-on effects will be around for much longer than the immediate health issues.

Prior to COVID-19, there were ugly pockets of nationalism breaking out all over the world. It will increase. When we feel vulnerable our basic instinct is to circle the wagons. That would be a mistake.

Former French president Charles de Gaulle understood the difference between ugly nationalism and being a patriot. He said that “patriotism is when love of your own people comes first; nationalism, when hate for people other than your own comes first”. He may have been correct. National pride, a sense of belonging is important. It is a good thing. But we need to combine that with our commitment to work together globally.

Sadly, bouts of ugly nationalism and trade wars might encourage some people to think we should go it alone. Benjamin Franklin said in the context of the then 13 states in what is now the United States: “We must all hang together or most assuredly we will all hang separately.” It is true today.

Foreign trade allows our farmers, miners, software engineers and others to sell to international markets. It allows us to buy stuff from them as well. It puts billions of dollars into government revenues to pay for things we need.

It’s refreshing and comforting to see the Trade Minister working with officials and producers to get our produce out to the world. Even more so to see that he and other trade ministers in our region are focused on keeping trade flows going now and into the future. If we want the jobs and the revenue, we need to keep cool heads.

As Simon Birmingham says: “It is tempting for some to suggest that, at times of threat like COVID-19, nations should look inwards. But it is through looking outwards, particularly by supporting global markets and international trade, that the world has lifted hundreds of millions of people out of poverty.”

A statement by the Trade Ministers for Singapore, New Zealand, Brunei, Myanmar, Chile, Canada and Australia commits all parties to “working with all like-minded countries to ensure that trade continues to flow unimpeded, and that critical infrastructure such as our air and seaports remain open to support the viability and integrity of supply chains globally”.