Globalization And Its Effect On Movement Across Nations

2755 Words12 Pages
Globalisation is where national barriers (things that block or stop other things) are removed and international trade and communication are increased. As globalisation affects countries and people all over the world, money-based and cultural factors play a big role. And its effect on movement across nations of: • Export, imports and trade • Investment • Technology • Finance • Labour and the ability to move and the possible movement across countries of those 5 elements. Australia has been involved in trade, investment, financial flows,technology transfers (from one place to another) and the moving (from one place to another) of labour since its foundation as a colony. These are all parts of a worldwide economy. What has changed is the size, direction and influence of these movements (from one place to another), 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 Melbounre 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
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