What about the 'Australian' travelling public who fly with EK,CX,CA,EVA,SQ out of Australia with cabin crew who all have the same qualification. Are they jeopardising their safety?
The crux of the problem is not what they don't have, it's what their competitors are doing to keep them competitive and I don't think it's a first aid course.
Ever heard of Medlink and the drugs that these asian carriers have onboard that can be administered by someone other than a first aider(Nurse,Doctor etc).