THE GARNAUT REPORT: THE QUALITY OF REALISM.

The article reports on the realism of the Garnaut Report as applicable to Australian foreign policy. The change in the Australian government's priorities of its foreign policies is characterized by two themes - the contraction in the area of application of external policy to its own region and the need for greater 'self-reliance within alliance' and the integration of a range of economic concerns notably in its international trade practices. It mentions the trans-Pacific economic tension that occurred between the United States and Japan where the latter's rapid economic growth affects the value of the dollar, a surge in US inflation and interest rates, and trade imbalance. The article concludes that the pluralist defense of the multilateral order of the Garnaut Report should be devalued.