The jobs, however, seem to be creating serious concerns amongst Australian labor force. The Australian Union, who was campaigning against ChAFTA, is arguing that the easing of labor market restrictions will inevitably jeopardize Aussie jobs and flood the country with unskilled workers. This is of course is a political debate that continues as I type these words; not for a humble trade consultant to comment on!
There are also concerns that since the Australian economy is much narrower and thus more vulnerable, it is likely to benefit to a lesser extent than the Chinese economy with its mega corporations and much less expensive labor costs.
In whole, however, ChAFTA seems to provide Australian businesses significant advantages over their international competitors. Lastly, it provides solid conditions for economic development of the Australian domestic economy.
Stay tuned for more information. As always, if you have any questions or concerns, feel free to reach out to your local Tradewin practice.