Australia's treasurer, Jim Chalmers, has argued that middle powers should co-operate to avoid being held hostage to geopolitics. In his view, strengthening economic security and bolstering supply chains would benefit consumers.
Chalmers's message points to a broader concern among mid-sized economies that they can be squeezed between larger rival powers. Working together, he suggests, gives these countries more leverage and resilience than acting alone.
The case for co-operation rests on shared supply chains and the risks of over-reliance on a small number of partners. Diversifying trade and investment links, he argues, can reduce vulnerability to sudden disruptions and political pressure.
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Source: Financial Times Companies · Summarized by HeadlinesBriefing