Globalisation - the process to open economic and market ties - hasn't worked for everyone, Victoria's premier says.
Communities in US and across the world are questioning whether open markets are in the domestic interest, Daniel Andrews told a business forum.
Globalisation supporters needed to be "honest and frank" about shortcomings and work harder to spread the benefits.
"If we don't, then I think we will see further discussion - wrong-headed discussion, discussion not based in fact - that questions all of the great potential that our global and regional partnerships offer," he told the Boao Forum for Asia conference in Melbourne.
Mr Andrews pointed to the sale of the lease of the Port of Melbourne as an example of a global investment success.
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The port lease was sold for $9.7 billion to a consortium including Australia's own Future Fund, QIC and one of China's biggest sovereign wealth funds, CIC Capital.
