globalisation on australia (1 Viewer)

[s.m.i.t.h]

in an essay about the impact of globalisation on australia?
what things would you write about?

 

[ZabZu]

talk about how Australia moved from a protectionist country to an open country. Also include information on how Australia has stopped many inefficient industries (cars, etc). Therefore Australia mainly exports rural, mining and manufactured goods.

 

[miffytoki]

- talk about all the changes that a growing global economy has had on australia, including international convergence and susceptibility to world changes (world business cycle),

- growing levels of trade with certain nations (preferential trade agreements) and structural change to produce manufacturing and services (to suit foreign countries' trade and consumption patterns - link to int. convergence)

-investment flows/finance - financial deregulation to accomodate foreign banks, floating of ER, FDI, portfolio investment, TNCs link this to growth and development ...as an implication u might be able to mention external stability because this inflow of investment is linked to CAD

-technology flows as greater access to foreign and more efficient technologies

-labour. increased migration of skilled labour -

 

[ae]

in an essay about the impact of globalisation on australia?
what things would you write about?

“Discuss the impact of globalisation on Australia’s economy”
INTRODUCTION
• Define globalisation
• Discuss Australia’s economy - $800B GDP, per capita incomes, structural CAD, unemployment, low inflation rate regime.
• Discuss how the Australian economy has been opened up to globalisation – floating of the $A etc
• Australia’s policies regarding free trade and protection

BODY
• Discuss how Australia’s direction of trade has changed
• Discuss how Australia’s composition of trade has changed – towards ETMs and STMs
• Discuss how the amount of trade has changed – all these figures are in your text and notes
• Discuss how a massive inflow of investment into Australia has created a structural problem on the CAD (with net income)
• Discuss improvements to international competitiveness
• the implications of Australia’s policies for individuals, firms and governments
• implications for Australia of protectionist policies of other countries and international organisations.

CONCLUSION
• discuss Australia’s changing economic position which has been partially brought about by greater integration into the global economy – unemployment, CAD etc
• discuss future trends – bilateral agreements, Cairns Group.

 

[nick1048]

this last one would be the best however if u cant cram all these points in dont worry, make sure u define, include examples and have a structured and coherent response.