Globalisation And International Trades And Communication

Decent Essays
Globalisation is where national barriers are removed and international trades and communication are increased. As globalisation affects countries and people all over the world, economies, and cultural factors play significant role. And its affect on movement across nations of: • Export, imports and trade • Technology • Finance • Labour • Disadvantages and advantages to globalisation And the ability to move and the possible movement across countries of those 5 elements. Australia has been involved in trade that comprises of, investment, financial flows, technology transfers and the moving of labour since its foundation as a colony. These are all parts of a global economy. What changed are the size, direction and influence of these movements, especially since 1980. There are some factors that have helped this change. They include: • The development of new markets - outside trade and capital markets are linked far and worldwide. They work 24 hours a day with dealings anywhere on the planet with possible time, continuously. Monetary markets and dealers in Sydney and Melbourne are now competing transparently with merchants in far away urban areas, for example, New York and London. There is no advantage given to dealers in Australia. Budgetary deregulation and the floating of the Australian dollar since 1983 strengthened the effect of globalization on the Australian economy, and has been essential in the financial sector and in addition others. • New technology and the
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