Australia is on its way to becoming "the world's most diverse nation", according to media mogul Rupert Murdoch.
In a speech delivered at the Lowy Institute (Sydney), Mr Murdoch explained that Australia's immigration rate is about twice that of the United States.
He said this gives our nation a "huge competitive advantage".
Why? Because it strengthens our ties with the rest of the world - ties that can be used to form and maintain trade relationships, which will have a positive impact on Australia's economy.
He added that our open-minded approach to immigration has given Australia an ethos that's the envy of other nations across the world.
"The heart of Australia today is our belief in a fair shake for all," said Mr Murdoch.
He explained that our society is based on the understanding that "no man or woman is above any other" and prides itself in rewarding innovation and achievement.
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