Wildlife Smuggling: Could Legalising Trade Stop a Jumbo-sized Problem?

Illegal wildlife trafficking in South-East Asia is big business, estimated to be worth between US$10 billion and US$20 billion annually, making it the second-largest illicit market globally after drugs. Despite a regional clampdown on illicit trading, Australia's efforts to stop the smuggling of birds and reptiles in particular remain piecemeal. Authorities are seeking a nationally coordinated approach to investigations, regulation enforcement and an increased international focus. But a solution may be opening up legal exports of Australian wildlife, argue economists at the Australian School of Business. Legitimate wildlife trading may detract from "brag" value and cause prices to plummet.