The Obama revolution means that at last Australia’s SMEs can target the US. COLIN BENJAMIN
By Colin Benjamin
This blog first appeared 7 November 2008
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Anyone thinking it’s more of the same now Obama has been elected is in for a shock.
The new Obama team is essentially is from the Chicago finance and legal networks rather than from the Washinton political and administration brigade. The key drive will be towards an inflationary surge and a protectionist orientation with an America-first mentality.
The main thrust will take place in the first 100 days as Obama understands this will determine the extent to which he is viewed as a black face in the White House or the new face of America.
There will be five key changes:
- A reconstruction of US diplomacy from confrontation to collaboration. He will not dictate terms to the world but will use a consultative forum model.
- There will be a return to the three Ts; truth, trust and transparency. There will be a return to 20 years of missing regulation of hedge funds and CFDs resulting in a major reconstruction of the finance system as the focus moves from shuffling money to creating products and jobs.
- There will be a major move towards investment in health and education.
- There will be a total rethink of world trade relations away from free trade agreements to stronger bi-lateral and best practice arrangements based on a strengthened local manufacturing industry including a reconstructed automotive industry along the lines of the Rudd/Carr car plans.
- There will be a new emphasis on the ways contracts are awarded. This will be far more open and based on world’s best practice rather than who is a mate.
So what does all this mean for Australia’s SMEs? It’s time to head to the US, that’s what.
For Australian firms this represents a unique opportunity to build networks into the US states in the way we have tried to do in the past and failed – and that we have successfully done in Asia and Europe. There will be huge amounts of dollars flowing into the US and not just the key cities but into all the states.
As all the money goes into refloating the US economy, Australian businesses now can be part of the networks that will be taking advantage of the opportunities in the many states – not just NY and San Fran.
So if you have been to the US and given up, now is the time to head back!
Dr Colin Benjamin is Entrepreneurship and Strategic Thinking Consultant at Marshall Place Associates, which offers a range of strategic thinking tools that open up possibilities for individuals and organisations committed to applying the processes of innovation, creativity and entrepreneurship. Contact: CEO Dr Jane Shelton.
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