Retreat from Pacific would ‘cost America economically’
Former Home Affairs secretary Michael Pezzullo says it would “cost America economically” to retreat from the Pacific.
Mr Pezzullo, in an address on Tuesday, proposed a Defence Production Commission.
“If the American flag retreats from East Asia, the Western Pacific, the Indian Ocean, so will American trade,” Mr Pezzullo told Sky News Australia.
“If China is predominant in the region, strategically, militarily, territorially, politically, do you really think countries are going to have stringent foreign investment screening?
Retreat from Pacific would ‘cost America economically’
“The whole dynamic of the region will change and that will cost America economically.”