Similarities Between Australia And South Korea

Economic growth measures a percentage change in the GDP of an economy over a period of time. China and Australia’s GDP growth rates are very different, China having a relatively high GDP growth rate, while Australia’s is only just between the target 2-3%. In

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.

An increase or decrease in the unemployment rate can have a multiple effects on the Australian economy, both beneficial as well detrimental to the economic conditions and the societal outlook.

The Australian government and the North Korean government are both similar and yet different in their structure and system of government. The Australian government is both a democracy and constitutional monarchy with queen Elizabeth second as head of state where as the north Korean government is ruled by one man, the president Kim II sung who rules north Korea as a dictatorship both countries have political parties that assist in ruling the country. Australia is made up of a number of parties that represent the people, whereas North Korea have one party; Korean workers party. Both countries have different systems of government, Australian government is made up of 3 arms of government, these include the parliament, the executive and the judiciary.

Australia and Indonesia political systems are instrumental in shaping the development of individual nations. These systems determine the policies that are to be followed by the government and the governed and aim to establish political stability. Despite Australia is a constitutional monarchy and Indonesia is a republic, the two country have many similarities and differences in the political system. This extended response identifies and compares the key features of government system and election between Australia and Indonesia political systems.

The United States and Australia English are English-speaking countries. Both countries call their territorial borders states, they’re first world countries with most of their populations identifying with the Christian faith. And they also have a close fertility rate, with The United States having a 12.5% birth rate, and Australia have a 12.1% birth rate. Whereas The United States and Australia are different as The United States has presidents, while Australia has a monarchy, they are also similar as they both (are) founded by Europeans and use dollar as currency.

South Korea and America are two pressing and influential countries in the world, both with an expressible different history back grounds and present day cultural life style. While most of South Korea is notably similar to America in architect and popular culture, there are some huge divergences in our education system such as classroom atmosphere and student conduct, what a prototypical school day looks like and how many hours we study, and our college placement assessments.

China has, for a sustained period of time, been one of Australia's most important trade and economic partners. But this has not always been the case. Since the late 1970s China has moved from a closed, internal focused economy to more of a global market oriented one that plays a major part in other nations economies, like Australia's. Although China is technically a Socialist nation, market capitalism is actively encouraged, much the same as in Australia. In 2010 China became the world's largest exporter, with exports ranging from natural resources to manufactured goods. (CIA-World fact book) Australia's economy, in this sense, differs from that of China's. As Australia is simply too expensive to manufacture goods ("Holden, Ford,

Australia and China adopt very different economic systems in order to cater the best for their society. However, Australia's economic system is more successful than China's and, due to the writer's right-wing value system, will be measured in terms of environmental efficiency, labour and entrepreneurial resource efficiency and the standard of living.

Australia and China are two countries located in the southern and northern hemispheres respectively. They are both very important and major international exporters across the globe. Australian exports reached an all time high of A$29,970 million in February of 2014, this is a gain of A$120 million from the previous year. Australia’s natural resources are one of its main exports as Australia is so rich in its natural resources such as bauxite, coal, copper, tin, gold, iron ore, silver, uranium, tungsten, nickel, lead, zinc, diamonds, mineral sands, natural gas and petroleum.

Economic growth is a common term used by economists to describe in increase in production in the long run. According to Robinson (1972) economic growth is defined as increases in aggregate product, either total or per capita, without reference to changes in the structure of the economy or in the social and cultural value systems. The basic tool of measuring the economic growth includes the real GDP. It provides some quantitative measures in terms of the production volume.

Economic growth refers to the output of goods and services produced per capita in a nation over time. It is measured as the percent rate of increase in Real Gross Domestic Product(GDP) which is the value of total productions produced by an economy in

Another desirable effect of economic growth is increased tax revenue, the government receives more money from tax payers with out having to increase tax rates. If people are earning more, the more money they will pay in tax, the more money companies make the more tax they must pay to the government. The more money the government gains in tax revenue the more they can do to improve the country, they can invest in transport and infrastructure, they can make improvements to health care and they may even need to employ more people further reducing unemployment.

The second key national interest of Australia is the economy. Australia’s capital, jobs, standards of living, technological innovations and social advances rely substantially on exports and commodity values within Southeast Asia and the Pacific (Department of Foreign Affairs and Trade 2016a). The stability of South East Asia and the Oceania

South Korea and Japan have had a close relationship from ancient history to the present day. Because of this reason, their economic growth and development have similarities and disparate differences. This paper will discuss some of the two countries’ major characteristics including geographic, social, and political characteristics and look at their histories and economies.