Lowy Asia Power Index: EFIC pulls Australia down in regional power game

(Australia Financial Review, Melbourne, 8 May 2018) In the overall rankings, Australia is defined as an over-performer, or a country that punches above its economic and military strength. Indeed, we are ranked third in the over-performer stakes behind Japan and Singapore, coming in one place ahead of South Korea. This is primarily due to the strength of Canberra's military connections into the region and the cultural power associated with the university sector. But when it comes to business, Australia has shown itself to be sub-scale and insular. Seoul's export credit agencies, a mark of economic integration and regional influence, have extended $US82 billion of credit (third in the region) compared to Australia's $US2.7 billion (11th in the region).