Discuss the impact of international protectionists policies on the quality of life in Australia.
Since this is a Discuss question, I think its best to approach this by having a few points both positive and negative to include in your question.
What would international protectionist policies to do Australia?
Firstly, they make it harder for export competing industries in Australia to penetrate a global market - thus making is harder for exporting businesses in Australia to generate revenue -> due to the inability of these firms to compete globally, may result in structural changes in their organisation and/or closing of the business -> this then may cause an increase in structural unemployment as individuals are made redundant -> thus, this added unemployment will reduce the quality of life in Australia as will increase the unemployment rate. However, an increase in international protectionist policies may in fact force domestic businesses to increase operations and and production in order to compete -> The increased efficiency of these firms will increase of the international competitiveness of Australian industries ->Will stimulate economic growth and will improve the quality of life.
Yeah we studied this topic last year, it's a bit fuzzy in my head rn. I hope this helps though. If this question was outta 4, I reckon my response will get 2/4. -
