Impact Of Globalisation In Australia

This report will show an overview of the current state of the Australian economy and its management by the Federal government through examining economic indicators such as economic growth (GDP), unemployment, inflation and trade.

There is a general consensus (Rodrik, 1997; Frankel, 2000; Hemmer, 2001) that the driving forces behind economic globalisation are a reduction in transport and communication costs in the private sector, reduced policy barriers to trade and investment by the public sector, an increase in the availability of and access to information and technology and the speed with which information and technology can be transmitted across national boundaries. The most important aspects of economic globalisation therefore include the breaking down of national economic boundaries, the liberalisation of international trade, finance and production activities and the growing power of transnational corporations and international financial institutions (Khor, 2000:3). Economic globalisation therefore manifests itself in various forms such as an increase in international trade, financial flows and foreign direct

Globalisation is expressed in transcontinental flows and networks of activity, interaction and power between countries, irrespective of geographic distance. It establishes and maintains economic, political and socio-cultural relations. This interaction helps economies through growth in international trade, investment and capital flows. Some factors that have acted as the driving force of globalisation include technological innovation as it had made transport and communication around the world easier, capitalism and trade have also played an important role in encouraging globalisation. Trade

Australia’s lack of international competitiveness as a result of geographical location and small population, as well as the decline of the manufacturing industry to overseas low cost producers, with the problem being further increased by the high AUD exchange rate, as a result of the mining boom. The fall in domestic production has led to an increase in imports and a fall in productive innovation compared to advanced economies has led to a rise in CAD.

Good Morning fellow delegates; I am honoured to be here today to provide you with my opinion on if Australia is becoming too Americanised.

Globalisation is not new. Australia has been involved in trade, investment, financial flows, technology transfers and the migration of labour since its foundation as a colony. What has changed is the size, direction and influence of these transfers, especially since 1980. There are a number of factors that have aided this transformation. They include:

The phrase of globalisation is becoming very popular around the world, and it gives free movement to communicate with people regarding cultural, economic, social, technological, political, educational and businesses. In the modern society globalisation has impacted on many human lives, which started in the western countries in (1492), according to Kevin H. O'Rourke, Jeffrey G. Williamson, and then it expanded all over the world. The word of globalisation can describe many different aspects such as globalisation of nothing, the making of the global society and the globalisation of wealthy and poor. According to Robert Shuey in (2001), ‘’globalisation is widely and somewhat loosely used a term, intended to describe the recent and rapid process of international, economic, social, and political integration’’. The idea of his words that globalisation is giving an opportunity to people, so they can travel, invest internationally, and communicate this can help many businesses people especially in Australia to invest more widely and internationally. Globalisation has impacted on Australian society in all terms of life, for instance, it has an enormous impact on health and education system, on technology, and on the Australian economy. But one of the categories is increasing so widely among Australian people who affect many young people’s lives is the impact of racism on the health and wellbeing of young Australians. The word racism is the very phenomenon aspect in the Australian society, especially between young people. On the very high percentage of many young Australians are experiencing racism between the nation, most of these racists are because of skin colour, cultural beliefs, different traditions from different countries, speaking another language and gender. Racism plays a significant role in the society, and many people are aware of this because when they face radical discrimination from any individual, they feel angry and frustrated, and sometimes they feel of not belonging to the local community.

Australian foreign policy has undoubtedly been subject to vast changes over the past century, particularly as a response to the increasing role Asia has played in shaping the contemporary global market. Having identified the importance of multilateralism and regionalism, policy continue to be increasingly focused on our geographical position as part of the Asia-Pacific region, and the relationships with our immediate neighbours, as a means to better achieve stability. The word stability in this context does not simply refer one single aspect, but rather encompasses several different areas which are equally important if we are to continue advancing our country in both a domestic and international sense. There are several key areas of policy

Globalisation is the process of global economic, political and cultural integration performed through deterioration of protectionist policies to result in growth of international trade, investment and capital flows. The globalisation phenomenon is playing increasingly important role in advanced, emerging and developing economies in affecting domestic industries. Although globalisation has positively impacted Australia and China, counties such as Zimbabwe have faced increased discrepancies in income inequality and poverty levels and caused disruptive structural changes. Through implementing policy reforms from 1970s to 1990s, China’s microeconomic and macroeconomic policies have attracted globalisation resulting in economic growth and development, however the government has to face

Key Factor that have been seen around the world in which have led to the transformations of populations are primarily Colonisation, Globalization and migration. Around the world today intractable conflict is found in many areas that were subjected to colonization by European super powers such as Africa, the Balkans, Southeast Asia, the Middle East and South America (Marker, S, 2003). Many of these produced conflicts with differences in policies, territorial boundaries, treatment of indigenous populations and the prioritising of some groups over others. This can create an uneven distribution of wealth and the formation of non-democratic government systems when others countries intervene in this manor (UNESCO, 2015). Examples of colonization also stem to Australia when the First Fleet arrive.

Australia was once one of the healthiest and wealthiest single megadiverse country in the world. Unfortunately, it is now facing serious environmental problems which will affect the future generations.

Australia has been expanding the economies and becoming the wealthiest nations in the Asia-Pacific regions. The old Labor government use a fiscal policy by increasing the government spending in the Global Recession in 2009. Australia generates the mainly sources of exporting form mining and agriculture, and its services, technologies, and high-value-added manufactured goods are competitive international standard. Australia draws attention to foreign investment with foreign competition and a skillful workforce in almost all industries. The government involves less in the most area of the market and the competition in financial services has increased. Government debt is increasing because of the global financial crisis but it is lower than the

The effects of Globalisation on Australia can be disseminated into a number of different categories. For the purposes of this report five major categories including Economic, Social, Cultural, Environmental and Political have been explored and summarised but is by no means exhaustive.

The definition of globalization is how us people increase interaction with others on a global scale and integrate knowledge and ideas such as culture or economics to other parts of the world. The human race is constantly on the move. It helps get everyone together and in the process exchange information from one place to another. For the past century, the invention of automobiles has been credited for providing one of the greatest options of personal mobility as well as one of the main inventions to substantially shorten the distance of our world. As time goes on and technology becomes more advanced, the globalization of the auto industry assists with manufacturing better cars and making them more accessible around the world. However, the system isn’t flawless.

Responding to globalisation, the government, politicians, economists, lawyers and other related stakeholders have intensively generated multifarious ideas, concepts and debates concerning what, why and how we should deal with this prominent issue. Globalization has been a pragmatic way of depicting the spread and borderless nature of production, communication and technologies that has resulted in making nations and societies around the earth more interconnected and interdependent. Regarding international trade, it has increased the number of goods not only high technology product but also shoes and clothing, are manufactured in global networks of supplies of raw materials and intermediate goods and producers of final goods located in many countries. As a result, globalization led many countries to closer international economic integration.