The title of his 2019 book describes AustraliaвЂ™s economic potential in a decarbonised world: Superpower. More recently he described how climate change was not only a threat but also an unprecedented opportunity. Garnaut was an eminent ANU economist when Bob Hawke chose him as his economic adviser, appointed him ambassador to China and then tasked him with sketching the plan for AustraliaвЂ™s economic engagement with Asia.ДЄnother Labor PM, Kevin Rudd, commissioned him to write the Garnaut Review on climate change.

вЂњWe will face choices вЂ“ inclusion or exclusion from trading arrangements.вЂќ Ross Garnaut says: вЂњWe can expect it to be the beginning of a new trans-Atlantic partnership that will extend widely into other goods.вЂќ He expects it to soon apply to farm products, and to more countries possibly including Britain, Japan, South Korea and Canada. But, as things stand, it would also shut out Australia. ItвЂ™s chiefly aimed at knocking China out of their markets. US National Security Adviser Jake Sullivan called it a вЂњcarbon-based arrangementвЂќ. The catch? The new access will favour low-carbon imports.

The tariffs were left over from a Trump-era tit-for-tat trade fight. вЂњOne of the important deals of the last week is the agreement between the US and Europe to use trade to force action from other countries.вЂќ The two big economies agreed to suspend punitive tariffs on each otherвЂ™s iron, steel and aluminium. If it delays much longer, Garnaut sees Australia suffering penalties and exclusions in the world trading system.

Rise of nations world map