The Effects of Globalisation on Australia

Analyse the effects of domestic and global free trade and protection policies on the Australian economy

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

The impact of globalisation has also changed the structure of Australia 's trade. There has been considerable growth in manufacturing and service industries with limited growth in the rural sector (Table 2). This reflects a combination of changes in world demand and domestic structural reforms.

For example, in 2012, Georgina Hope Rinehart, heiress of Hancock Prospecting, a private Australia mineral exploitation company brought in 1,700 foreign workers as a result of globalisation. This increased access to cheap labour decreased the level of domestic employment in Australia, leaving smaller portions of the profits from the resource boom in the poor’s

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.

With a GDP of over $1 trillion USD, the Australian economy is among the largest in the world (Cornett and Saunders, 2014). Australia is trading partners with the United States, China, and Japan, but their economic ties are mainly centered in the Pacific Rim. Exports are crucial to the country’s GDP and this has created problems regarding sustainability in the Australian economy.

Globalisation is the interaction among people and the exchange of goods between different nations. The economies of countries grow and become interconnected (Globalisation 101, n.d.). The Criterion group had a lot of success with trade overseas. Managers need to make sure they do research of the country they wish to enter, for example, being aware of other cultures and religion, which could effect how they work. Hofstede’s 5 dimensions include Power distance, Individualism vs. Collectivism, Masculinity vs. Femininity, Uncertainty Avoidance and Long term vs. Short term. Power distance, although not a huge concern in New Zealand due to our open door policy, this is not the case in other countries such as Singapore, where lower members of society accept they will not be treated equally. Criterion put a lot of effort into making their worker feel appreciated and try to

The current social and political climate in Australia is the corollary of the postmodern age and globalisation. Postmodernity ushered in the notion of multiplicity, the destruction of universal truths and hybridity of identity and, “a more chaotic social landscape full of fluid identities and diverse social groups,” (Ward, 2003, p. 174). This was in stark contrast to the homogeneity of modernity. Modernity was built upon the concepts of universal truths, utopian visions and rationalism. This destruction of universal truths and the concept of multiple truths as its replacement is deeply threatening to those communities who perceive postmodernity as an attempt to destroy their mode of being, and indeed their identity. The validity of multiple truths requires acceptance and tolerance by society, and a willingness to accede ‘your truth’ may not be the only truth. This is none more apparent than in the re-emergence of religious identity in the public sphere, “increases in religious diversity have brought religion back into public discourse in a totally unanticipated way,” (Bouma G. , 2011, p. 27). The notion of multiple religious truths can be threatening to societies which have previously only validated one or a few.

Electricity sector liberalization in Australia occurred within the wider context of the efforts for improving the competitiveness of the Australian economy, starting with financial deregulation over the 1970s and 1980s. In particular, the floating of the exchange rate subjected Australian exports, comprised mainly of agricultural and mining goods, to global competitive forces, whilst high tariff walls protected manufactured goods from competition. The inward focus of domestic industry led to declining standards of living, unemployment, inflation, and balance of payments deficits (Hodgeetal.,2004). This led the Hawke-Keating Labor government to setup an independent Committee of Inquiry into National Competition Policy for Australia in 1992, also known as the Hilmer Report (Hilmer,1993).

Globalisation and doing business globally are significant issues for contemporary organisations. Define what is meant by Global Business. Identify the stages in the phase model of globalisation and explain the strengths and weaknesses inherent in each.

The car manufacturing industry is a large enterprise and supplies employment for more than 45,000 people and indirectly employs nearly 200,000 (Cassin, 2013). However it is believed that the Australian government should not provide funds to the car manufactures, Australia cannot compete with the larger automotive manufacturing countries. The statistics of 2013 show that, 1.13 million cars were sold, out of that figure just over 100,000 were purchased locally made. This tells us that less than 10% of Australian’s actually bought an Australian manufactured car (Smith, 2014). If we aren’t going to buy them who will?

Globalisation has become the general phenomenon around the world. It means increasing global relationships of culture, people, and economic activities. Moreover, the free trade between the countries is measured due to the implementation of globalization. It is a concept of viewing the whole world as a ‘global village.’ But today there is a controversial debate about the topic is globalization has been more harmful than beneficial and in this essay the argument is in the favour of the topic about health, environment, and employment.

Globalisation’s advantages and disadvantages of have been a controversial issue for a long time, supporters see that Globalisation could:

Globalisation can be argued to be the way of the future, the way to connect countries, cultures and individuals. It is argued that the benefits encourage a less developed country to join in the path of globalisation is that in theory it is meant to allow for the free movement of labour, this being beneficial to a country that may be experiencing labour shortages. This can be seen to be effective in the European Union as they allowed migrants from Eastern Europe to move west to meet with their labour demand. Another benefit of globalisation could be an increase in competition

Globalization is the process of integrating various economies of the world without creating any hindrances in the free flow of goods and services, technology, capital and even labour or human capital. The term globalization has, therefore, four parameters: 1. Reduction of trade barriers to permit free flow of goods and services among nation-states; 2. Creation of environment in which free flow of capital can take place among nation-stated; 3. Creation of environment, permitting free flow of technology; and 4. Last, but not the least, from the point of view of