Australia’s Ferguson Says Asian Links Provide ‘Great Advantage’

Australia’s Energy Minister Martin Ferguson cautioned against “protectionism and isolationism” and said close ties to fast-growing, commodity-hungry Asian consumers give his country’s economy a “great advantage.”

“Resisting change and taking an inward-looking policy approach will lead to longer-term harm,” Ferguson said today in an e-mailed copy of a speech to be delivered in Sydney. “We cannot forget that the drivers of growth in resources and energy offer opportunities, not just challenges for other sectors.”