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The Australia in World Affairs series commenced in 1950 and provides a continuous, researched scholarly account of Australia's foreign policy. The seventh volume, Australia in World Affairs 1981–1990: Diplomacy in the Marketplace, coincides with the return of Labor to government in 1983, led by Bob Hawke. This decade saw the development of Australia's balance of trade and foreign debt problems, resulting preoccupation with the economic and trade aspects of Australian foreign policy. This mirrored the international trend towards protectionism and trading blocs. Concern over future access to European markets, and future competition with European exports in other markets, increased with the prospect of an integrated Europe. The Asia-Pacific region saw the emergence of Japan as an increasingly dominant power economically, and witnessed the extraordinary growth of South Korea, Taiwan, Hong Kong and the ASEAN countries as rapidly developing, modernising and highly successful participants in world and regional trade.
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