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.

Although Australia remains geographically isolated from the world, international trade still remains a main factor that allows Australia’s economy to prosper. Australia’s long history of trade has created tight links and connections with other nations. Being a member of many worldwide organisations, Australia has produced many free trade agreements with countries around the world. However, recently Australia has seen a change in the composition and direction of its trade and has developed a strong trade link with the Asia-Pacific Region.

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.

Without the low cost foreign company in the nation, domestic producers can change the price of the goods and services which means the consumers have to pay more in order to fullfill their needs and wants. (http://www.wisegeek.com/what-is-protectionism.htm) Globalisation have changed Australia's trade patterns since 1960s. Australia decline in the importance of rural exports, increasing in the importance of mining, services and manufacturing. For example,wool has fallen from 60% to 2.3% of exports in 2003 and 2004 due to the rising quantities of others export. Also, the amount of services exported by Australia has significantly rising such as personal travel services, education related, passenger transportation services, business, professional and technical services.

It is not a new phenomenon but it is arguably the most significant, yet problematic and controversial change in the modern era. The report will analyze globalization by first scratching the surface and examining the positive claims associated with globalization and the way in which it has cemented economies and countries like Australia and China. The report will focus on three main claims: (1) Globalisation is about the liberalization and global integration of markets (2) Globalisation benefits everyone; and (3) Globalisation furthers the spread of democracy in the world. However, through the discussion will come to light that Globalisation is a doubled edged sword comprising of negative consequences, which at times may question the validity of this

The modernization of Australia was accelerated by the gold rush and has kept Australia up to date and has advanced us into our modern world. One thing that has pushed Australia further in our discoveries is the economic growth that began from the gold rush. Economic growth has made many people living in Australia create large companies and businesses that have thrived and become global. Globalisation can be both positive and negative as it can have a negative effect on the environment (from the large manufacturers) but has made modernization of Australia possible. It has also created an expansion that has made Australia contribute to the importing and exporting of the world. Back in the 1850’s, this was also beginning with the gold rush and

The changing land use via the construction of the new Crown Resort in Sydney harbour yields a majority of negative implications on the environment, Australia’s economy, and society. The effect on the environment, including air and water pollution, and the deconstruction of the working harbour, is detrimental to health and well being. The social implications include the effect on gamblers’ individual lives and the lives of social housing occupants, as well as the impact casinos have on Australia’s international profile. The economy is affected because it widens the economic gap between rich and poor and changes the area via the changing of residents due to high rates catering to wealthy tourists.

The Australian economy faces significant challenges in ensuring that young people are well integrated into the work force. Some of these challenges includes lowering youth unemployment, improving access to work, or raising the skills of youth to improve access to quality jobs. Every year a large number of young Australians aged 15-24 enter the labour market, with around 300,000 youth being currently unemployed, which accounts for over a third of total unemployment. As well as this many of the 160,000 young Australian who are not currently in employment, education or training are not technically classified as unemployed as they are not actively seeking a job. While data shows that the number of youth unemployed between the age of 15-19 has declined

Various negative outcomes can be attributed to this intensification of Global Apartheid and international disparities. These include, but are not limited to:

Globalisation is not a new phenomenon, but has rapidly accelerated to become a key trend, due to the changes in policies and technological developments, that have subsequently stimulated increases in trade, investment and migration (Mortimore, 2001). Economies have been released both domestically and internationally, changing the market by providing more ability to trade between countries. This infers that world markets are becoming increasingly integrated, and such integration is being facilitated by the emerging rapid changes in communication, computer and transport technology (______) . The changes instigated by globalisation implicate a variety of adaptations to businesses, which ultimately affect employees. As such, research within Australia, provides noted evidence of income inequality due to the effects of globalisation on the labour market.

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.

Movements in the exchange rate for the Australian dollar against currencies of Australia’s trading partners influence international competitiveness. Increasing international competitiveness means increasing productivity through the better use of resources. Increasing competitiveness suggests that goods and services produced in Australia will be more attractive in domestic markets. Australia’s international competitiveness has fluctuated quite widely during the past two decades. Changes in international competitiveness over time will affect the goods and services balance and therefore the current account in the balance of payments. The competitiveness of Australia’s exports and import competing goods and services can depend on a variety of factors,