Explain How Australian Economy Will Remain

Explain How Australian Economy Will Remain
Australian Economy Will Remain Sluggish for Several Years It is said that we are living in turbulent times. The Australia's once–in–a–century
commodity boom has reversed, leading many miners to cut back on investments and consolidate; which is expected to generate great social and
economic hardship throughout these years. While more hope is casted into the construction sector, a cooling change blows in the housing market.
Unemployment is tipped to rise and when it reaches a record high; consumption will continue to grow at a below–average pace, so business sentiment
will remain fragile. Rather than fuelling the economy, the fiscal policy keeps straining it whilst the monetary policy will struggle to have an impact –
indicating that the Australian economy is slipping downwards. Nevertheless, some economists still maintain bullish opinions in regards to Australian
economic growth. It is argued that there are still plenty of reasons to be optimistic since opportunity always comes with change – the economic
opportunities for Australia have been rich and will continue to be. Some people say the benefits of the mining boom have been greatly exaggerated; so
the unwinding of the boom will have less ... Show more content on Helpwriting.net ...
Those who argue that the ending of mining is not the ending of the economy and that the construction investment could offset the mining sector slump
may be misled. They, together with those who assert that the ongoing fiscal and monetary stimulus have ample powers to lift the economy should
clearly realise the following: the plunge in mining investment, the down turn in construction industry, the restriction in fiscal and monetary actions all
signal that the Australian economy is sliding to sluggish. This low growth condition will continue for several years to come; it seems there is no room
for
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The Impact of Globalisation on the Australian Economy
The Impact of Globalisation on the Australian Economy 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 expansion of new markets –
foreign exchange and capital markets are linked globally. They operate 24 hours a day with dealings any where in the world possible in real time.
Financial deregulation and the floating of the Australian dollar since 1983 intensified the impact of globalisation on the Australian economy. • New ...
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Table 1: The Effects of Cutting Protection in Manufacturing in Australia Source: Productivity Commission 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. Table 2: Annual Growth in Exports, by
Sector, 1985–86 to 1995–96. Source: Australian Bureau of Statistics, 5368.0 Globalisation and Financial Markets The spread of globalisation especially
since 1990 has introduced many new elements into the financial markets and what determines the value of a nation 's exchange rate. This does not just
apply to Australia, but as we saw in the later half of the 1990 's, to many other nations in the world. Firstly, trade in goods and services makes up a
much smaller proportion of the demand and supply for currency. In the world economy, payments for international trade only account for about 1% of
foreign exchange transactions. The total foreign exchange requirements for exporting and importing of goods and services in Australia is less than 3%
of the total use of the foreign exchange turnover in Australian dollars (Reserve Bank Bulletin, Table F7 and Australian National Accounts, 5206.0). The
main purpose for foreign exchange trading is international financial transfers of

The Impact Of Tourism On The Australian Economy
Describe, analyze and evaluate how Australian tourism in general and more specifically the various tourist segments you've identified contribute to the
Australian economy and society in general. In particular, consider how various segments may impact GDP growth, public goods and "open access
resources". Include an assessment of how exchange rate fluctuations may influence different tourist segments.
Australia's tourism is an important part of the Australian economy. As mentioned earlier, tourism represented 3.0% of Australia's GDP in 2014/2015.
Another important part of the Australian tourism is the domestic tourism, which represented 73% of the direct tourism's GDP in 2014/2015. In 2015
there were 7.4 million visitors in Australia and the ... Show more content on Helpwriting.net ...
A public good is a good that individuals can consume without reducing its availability to other individuals. These goods are typically referred to as
nonrivalrous and nonexcludable. A common resource or "open access resource" is a resource that provides users with tangible benefits. A concern that
common resources have is overuse. When talking about overuse it is very natural to mention the free rider problem that many countries are facing and
especially Australia. The theory behind a free rider is a person who benefits from a good that possibly have been made or paid for by others without
contributing to the good themselves. In the Africa Progress Panel's 2015 report, it was stated that Australia has gone from a leadership to a free–rider
status when talking about climate diplomacy. It is believed that developed countries such as Australia are causing the majority of the problem through
for example gas emissions. A research shows that many of the countries who are the ones creating the most gas emitting are also the ones who are least
vulnerable to climate change and are essentially the free riders. It is here important to remember that a modern example of a common resource is
climate stability. The problem with Australia essentially being a free rider is that Australia is a country with a lot of wildlife and nature. Many people
travel to Australia to experience the nature and wildlife but if they continue being free riders it can result in lower GDP and lower income per capita
because the wildlife and beautiful nature with high possibility would be ruined thus fewer people would want to visit the country. An example of this
would be the Great Barrier Reef who recently was pronounced

Similarities Between Chinese And Australian Economy
Introduction
The purpose of this report is to compare both Australian and Chinese economies. China is one of Australia's closest trade neighbours, often referred to
as the Sino – Australian relations. While Australia has a minute population of 23.9 million in comparison to China's 1.357 billion its economic ranking
is just as its population, lower than China's. Both economies have various similarities and differences in areas such as economic systems and historical
events, economic growth, quality of life, employment and unemployment, distribution of income, environmental sustainability and, the role of
government in health care, education and social welfare. The following report will parallel and compare both economies in retrospect to the ... Show
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The Environmental Performance index (EPI) gave Australia a score of 87.22 and a rank of 13, whereas China achieved a score of 65.1 and a ranking of
109, this is most probable as a result of China's environmental crisis due to rapid industrialisation.
Also, Australia's and China's Foreign Direct (FDI) and Gross Domestic Product (GDP) growth saw huge declines during the Global Financial Crisis
(GFC). Both economies, being highly export driven, especially China saw GDP declines from 2007 to 2008. Australia declined by 1.9% and China by
4.6%. Both economies also experienced a huge fall in FDI–Australia's FDI declining 24% from the previous year and China's declining 36%. The huge
economic decline and lack of confidence in both economies raised the unemployment rate in Australia from 4.6% to 5.4% and 4% to 4.3% in China.
Quality of Life
Quality of life refers to the standard of living within a population. Quality of Life can be quantified by the Human Development Index (HDI) which
measures a country's social and economic development out of 1.
Human Development Index Score out of 1 and Rankings out of 188.
Australia (2nd)
China (90th)
HDI

The Economic Impact Of The Australian Economy
Economic impact is driven by factors such as the Exchange rates and the value of the Australian Dollar, the conditions of inflation and recession, the
Cost of labour in the manufacturing sector, technological changes in manufacturing, the economic cycle and the political environment Kellogg's has a
company strategy to expand and increase market share and profit that is based on its fundamental strengths of being a Global cereal leader, Global
snacks player and a emerging focus on frozen foods
This means some business holdings will be sold and others will be expanded or consolidated to cut costs and grow profit.The decline in operating profit
was the result of continued high levels of commodity inflation, a limited recall in the third ... Show more content on Helpwriting.net ...
These are; Cardboard on the outer layer which is used to transport products to stores Individual cardboard boxes which the product is sold in Liners
made out of High Density Polyethylene, in the inner box that seals the food inside the cartons keeping it fresh until the best before date
The sizes of packages are sold by the weight of the product inside. Even though the packages of two different cereals may have the same size of
package, it does not essentially contain the same weight. This is done to reduce the packaging made. Due to the products being packaged on automated
equipment, it is necessary for space to be left, ensuring the lining is sealed properly which then leads to spoilage. The different box sizes are to meet the
shoppers liking, which range from family boxes or single serve packs and even bulk packs sold in the industry. Unfortunately the high density
polyethylene liners within the cardboard boxes are not recyclable. Kellogg's continually works for minimising the material used to produce these liners

Essay on Globalisation and the Australian Economy
The Impact of Globalisation on the Australian Economy 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 expansion of new markets – foreign exchange and capital markets are linked globally. They operate 24 hours a
day with dealings any where in the world possible in real time. Financial deregulation and the floating of the Australian dollar since 1983 intensified the
impact of globalisation on the ... Show more content on Helpwriting.net ...
The Impact of Globalisation on Australia's Trade Australia's trade policies, since the middle of the 1980's, have been geared to opening domestic
industries to the global market (Graph 1). A prime focus of structural reform has been to 'subject the private sector in Australia to more competition
from both domestic and international sources' (Treasury, 1999). Australia has traditionally had high levels of protection, since the 1950's in areas like
textiles, clothing and footwear and motor vehicles. In the early eighties the effective rate of protection in the TCF industries was in excess of 200% and
57.5% for passenger motor vehicles. While some people would argue that cutting protection will reduce employment. Most industries that were heavily
protected during the 1970's and 1980's still suffered losses of employment and were not efficient enough to compete in export markets. Graph 1:
Effective Rates of Protection in Australia
                    &nbsp
Source: Productivity Commission Cuts in protection have increased imports but the increased efficiency has led to a comparable rise in exports. The
value of exports plus imports of goods and services has risen from 32% of GDP in 1975 to 48% of GDP in 2000 (ABS), reflecting

Comparing The Australian Economy And The Chinese Economy
Economic development refers to the sustained actions of communities, federal, state, and local governments that improve our standard of living through
the creation of jobs, new technologies, economic health, and the creation of an overall better quality of life. The comparison between the Australian
economy and the Chinese economy provide a detailed and comprehensive view of both nations. China is of political, cultural and economic strategic
importance to Australia. Economic growth, employment/unemployment, environmental sustainability, the role of government (in health care, education
and welfare), and quality of life determine the economic development of a nation.
Australia and China's economic growth vary in terms of different increases in their gross domestic product, or GDP, which is measured in US dollars.
Economic growth refers to a change in a nation's output of goods and services over a period of time which is reflected by gross domestic product.
During periods of economic boom, GDP is generally high. Similarly, during periods of recession, GDP is generally low. Australia is a mixed market
economy, where the government plays a major role in providing collective goods and services while the private sector makes most of the economic
decisions. Income is determined by the market but the government controls some private sector behaviour, minimum wage requirements, redistribution
of income and other related economic activities. China, on the other hand, is a centrally

What Are The Economic Implications For The Australian Economy
Discuss the economic implications for the Australian economy of Australia's continuing current account deficits Australia has a long history of large
and persistent current account deficits. During the 1960s the current account deficit averaged the equivalent of 2 per cent of gross domestic product.
The CAD rose considerably, due to the floating of the Australian dollar and the opening of the capital account in 1980s, and by 1990s CAD has
sustained around an average of about 4.5 per cent of GDP. However, in recent years the deficit has been falling and in 2011 it was just 2.25 per cent.
The decline in the CAD has been affected by what is happening to the nation's levels of saving and investment. The level of Australia's national ...
Whether a recession or upswing occurs, the BOGS will adjust to the economic activity. Australia's narrow export base is one structural factor affecting
BOGS. Australia's main exports are mainly coal, beef, iron ores and wool. Despite Australia having a strong manufacturing sector, many countries such
as China are able to produce goods more cheaply. If many countries can produce the same goods at a cheaper price, it affects the rate of Australia's
exports. .... The net primary income account, in the balance of payments, plays an ongoing part in the cause of Australia's current account deficit
(CAD). This occurs mainly due to the fact that the net primary account is comprised of payments of interest and dividends on Australia's net foreign
debt and equity. In 2011–2012, it was equal to a deficit of 3.1% of GDP; however it is expected to increase in the future due to large returns to overseas
investors in Australia's mining industry. Cyclical and structural factors affect the net primary income account which has a great influence towards the
CAD. The relative size of Australia's interest repayments overseas is the major cyclical factor affecting the CAD through the net primary account. The
changing value of the exchange rate and lead to the valuation effect, where the Australian dollar value of debt denominated in foreign currencies will
alter. Hence is there were to be a depreciation of the Australia dollar in global

Explain Why There Is A Form Of Australian Economy
Australia has an interesting form of government, but their economy is very strong. Australia's government is a constitutional monarchy. This means the
Australian constitution decides how the country should be governed. The Australian economy is very strong. It is one of the world's richest, most
developed countries. Its wealth has come from farming and mining, unlike other countries whose wealth comes from manufactured goods. Australia
solely depends on its mines and farms to produce goods that will later be exported. Australian transportation is the same as American transportation.
They use cars, buses, trains, ferries, planes and boats to get around. The most common form of transportation is by car. In modern day Australia, people
most frequently

The Australian Economy : Australia
The Australian Economy
During my lifetime the Australian economy has been one of the strongest and most consistent in the world. There are a multitude of factors that have
led to this and allowed the Aussies to be in this position. One of them being steady GDP growth rates, averaging around 3.5% annually (Heritage.org).
Australia has also benefitted from considerably low inflation and unemployment rates. With this mixture of GDP growth, low inflation, and
unemployment, they consistently set themselves up to be one of the strongest economies in the region, as they ranked third in the ranking of regional
economies (Heritage.org). Another reason for Australia's ongoing success is primarily because of the growth in foreign demand of importing ... Show
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The country also exports more black coal than any other nation (History of the Minerals Industry).
The largest slice of Australia's exports go to China, exporting around 31.6% of its total exports, making China Australia's biggest benefactor to its
economy (DFAT). Although the exports mainly consist of the titanic amount of minerals that Australia mines, China also imports large quantities of
wool, another heavily traded commodity of Australia. One of the leading wool industries, the Australian Wool Innovation (AWI) has said "it is easier to
sell fine wool for clothes to China than to traditional recession–hit markets in Europe" (The Economist – Hitched to the China Wagon).
The exportation of wool in conjunction with the exportation of minerals and ore to China makes China a strong partner with Australia when it comes to
resource trading. China obviously is dependent on Australia's exportations, making Australia's relations with China a strength of the overall Australian
economy. The Australian economy however, is clearly just as dependent on China's demand for such commodities. Although Australia greatly benefits
from China's demand in its exports, Australia needs to make sure the trade relations between them don't act as a crutch for the Australian economy.
Recent studies and articles predict China's demand for

Comparing The Australian And Indonesian Economy
Transcript: Comparison of the Australian and Indonesian economy
Australian living standards are higher than Indonesia's, this is a result of Australia maintaining higher economic performance through superior
economic indicators. Australia's economic indicators reflect a mature and relatively stable economic growth with a population 1/10th of Indonesia's, in
comparison, Indonesia's economy reflects a growing developing economy. Indonesia's economic trends are improving at a rapid rate and if this trend
continues, Indonesia could have in the mid to long term superior economic growth and thus higher living standards than Australia. Particularly as
Indonesia has a young population to fuel this.
To determine living standards we must know what ... Show more content on Helpwriting.net ...
In Figure 2 it is evident that Indonesia's cost of living, as reflected by the CPI, has been significantly deteriorating over the last 8 years. Although
research argues that CPI may not be an effective indicator of the cost of living for a developing country such as Indonesia (East Asia, 2015). In contrast
measuring the percentage of a household budget that goes to food is could be a good indicator. Since 2000, the percentage of household budget spent on
food has declined, meaning higher expenditure on discretionary goods and services. This indicates that Indonesia's urban regions are getting richer
faster than the impression expressed with the CPI (East Asia, 2015). This is also reflected in figure 1, as the significant increase of mobile phone
subscriptions is a good proxy of increased living standards as a mobile phone is a discretionary living cost. This is a result of the Indonesian growth rate
earning a higher level of surplus income to spend on more luxury items.
Figure 1, Australia's GDP growth (The World Bank, 2016)
Figure 2, Australia and Indonesia's GDP and CPI, (The World Bank, 2016)
As you can see in figure 2, the Indonesian GDP grew 144% from 2006, in monetary value this equates to $364 Billion to

Australian Economy Research Paper
Good afternoon, allow me to introduce myself. I'm Braiden Simpson, advisor to the treasury. Thank you for inviting me here to speak to you today
about the current economic climate and to discuss well–structured policies and strategies to ensure the sustained wellbeing and growth of the Australian
economy. We are all aware that through the introduction of strong policies that stimulate economic growth, policies that protect jobs, encourage job
creation and the need to keep our economy stable through well managed macro–economic policies are what is required to ensure a continued advanced
Australian welfare. Macro–economic policies are concerned with policies issues and objectives that affect the whole of our economy, however there are
three main ... Show more content on Helpwriting.net ...
Economic indicators are a crucial guide for gaining an understanding of the statistics of how efficiently our resources are being utilised. This is why the
unemployment rate and also the full time employment rate are such monumental subjects of attention. The unemployment rate could be further diluted
with the investment into education and training of Australians with the added benefit of protection against unemployment in the case of an economic
boom. Economically successful companies have a strangle hold on the global marketplace, this advantage is derived from the gap in education and
training of the workers these companies employ. Highly educated employees yield better productivity meaning faster production for the company and
an increase in intrinsic motivation by earning more on average. (Investopedia, Education Training Advantages, 2016)This in turn benefits the entire
economy due to decreasing unemployment and increasing residents' disposable income. For Australia to remain a threat to the market and gain greater
diversity, skill acquisition is paramount but only gained through education and formal recognition. A perfect example of this is despite the recent
negotiations for free trade agreement china has lowered their demand for Australian commodities. This has had a massive impact since 2011(Australia's
ToT, SMH, 2016) and has seen a massive plummet in commodity

Impact Of Globalization On Australian Economy
Impact of Globalization on Survival of Manufacturing Industries in Developed Nations
Globalization of Australian Economy
Globalization is the process which allows business ventures to operate in international environment. Undoubtedly Globalization, as expected, benefitted
many developing nations. China, Thailand and India are perfect examples of positive impact of Globalization (Clark, McCormack & Sunderland,
2008). Today, every country to survive in this globalized environment, have a set of rules which intern attract foreign organizations to set up their
business ventures in their country. Australian Economists have observed that there's a strong impact of movement of Automobile companies
manufacturing units in other countries. This intern has raised various questions on the legitimacy of globalizing economy of developed nation like
Australia.
Beginning with the benefits of Globalization, it has benefitted many underdeveloped economies, especially in Asia with the employment opportunities,
removed trade barriers, encouraged foreign investments and has also developed transportation and communication (Athukorala, 2011). Benefits of
globalization, were majorly dependent on the concept of economies of scale, here many major manufacturing units preferred mass production from
labor scarce areas to labor intensive markets. Apart from this, it has also encouraged large scale production of fragmented parts and components, for
every stage of manufactured goods. Korea specializes

Essay about Australian Economy Post World War I
Introduction
It has been argued that after World War 1, Australia gained more than it lost. Even though there were many lives lost during the war, these losses didn't
hold Australia back as a country. Australia was fortunate enough to come out of the war with more than they put into the war. Some of these gains are –
There economy boomed, the relationship between Australia and Britain was stronger, the women replaced the men's jobs, many immigrants were
encouraged to migrate to Australia. Although Australia gained many things they still lost a lot. These were things such as Australia spent a lot of money,
they lost many troops and lost trade with Germany. Although Australia lost some things, they were outweighed by the things they ... Show more content
on Helpwriting.net ...
During the war the British soldiers looked up to the Australian soldiers because of their spirit. The Australian soldiers also looked up to the British
soldiers and called England the Mother Country. Also the Australians liked to call themselves British. Lastly Britain bought a lot of Australia's wheat to
commemorate their war effort
Body paragraph 3
What did all the women do during the war?
With half a million men away at war, leaving their day to day jobs, who replaced the the workers? The women did. Women replaced the men's jobs
such as munitions factory workers, sewing bandages, and selling war bonds, shipyards and spies. This is good because before the war women were
unimportant and were only aloud in the kitchen The only negative about the women working in the men's jobs was they didn't get paid as much as the
men. The number of women in the workforce rose from 24% to 37%. This is close to 500,000 women to close to one million women. This says that in
the workforce, women rose in a total of 500,000.
Body paragraph 4
Why did all the immigrants settle to Australia?
With the already little population of 5 million Australian people and the loss of 300,000 men, this should have been a dark time, but to make up on that
loss Australia received 300,000 migrants. These Migrants came from Britain. As there was a large amount of unemployment the British government
encouraged the people of britain to migrate to Australia. Also the

The Growth Of The Australian Economy Essay
1. Introduction Suggesting any economic or policy reforms to the Australian Economy requires us to understand the evolution of an economy and the
factors effecting it both intrinsically and globally. But even if we understand the changes, how can we compare the before and the after? What are the
best parameters in doing so? What phenomenon is followed globally? This just summarizes one aspect of the essay which is followed by policy
recommendations by the author in the later half. Though with the limited knowledge of the subject and experience the author has suggested a policy
recommendation which aims at resolving existing or possible budding economic issues for Australia. 2. Limitations Considering vastness of the study
and limitations of words and understanding, the author has tried to cover most of the parameters to judge the Australian economy in relation to the
global economy trends and its implications. However, some of the newer areas of economic development have not been covered, specially in relation to
the Australian economy. One of the most economically disruptive phenomenon is that of Bitcoin and its implications on the global economy. There are
several other parameters and phenomenon that could not be covered by the Author in relation to limitation of time and words. 3. Economy a deeper
understanding The Best Way To Asses an Economy Irrespective of which country you belong to, the best way to assess economic goals is to stop pause
and look at where the

How Does The Economy Affect The Australian Economy
The Australian economy can both have positive and negative affects on FASTA. To start, in reference to Reserve Bank Australia, the inflation rate is
1.9%, employment growth is 3.0%, cash rate is 4%, GDP growth rate is 3.5%, wage growth is 2.1%, average weekly earnings are $1,192.00, and finally
the Australian dollar equals $0.75 US dollars. In analysis, the inflation rate, cash rate, wage growth and employment growth are beneficial to the
business since the businesses expenses aren't as high as it would be if the Australian economy was booming. As an effect this will cause FASTA to be
able to have expansion and improvements such as, more efficient machinery at a lower cost, while also reducing the amount to be expended on
operational expenses. However, the main negative effect of the Australian economy on FASTA is the decrease in sales due to the customers struggling
to afford products. While other outcomes include, the increased cost of imports, the decrease in the value of exports, and the more accounts receivable
due to low interest rates. Now it is important to discuss strategies that FASTA can use too cope with the periodic economic conditions and to make the
most benefit out of the advantages of the economy.
The first ... Show more content on Helpwriting.net ...
In which prominent marketing is needed to get products or services sold in a slow economy. Even more, according to BDC, creating a well–defined
marketing strategy that defines your target customers, uses the right tactic to reach them and uses quantifiable metrics to measure results. In evaluation
this could be effective for FASTA since the decrease in marketing in the 2016/17 period had obvious consequences in sales. An example of a successful
marketing campaign for FASTA is a new weight–lifting fitness equipment that reaches the target audience and increases the number of customers. For
this reason, proactive marketing can improve FASTA

The Growth Of The Australian Economy
In the last three years, the Australian economic performance is dominated by economic downturns. Recently, Australia facing two crucial issues in their
economy, those are increasing budget deficit and houses affordability. In the long term, those two issues can deteriorates the economy. By increasing
budget deficit, it affect to a decrease in living standard because the future generation need to pay more tax for paying the debt. As the housing prices
goes higher and significantly overvalued, the Australian economy growth slowly. And affect the Australian economy. The Australian government and
The Reserved Bank of Australia (RBA) need to overcome new fiscal policy and monetary policy in order to maintain these issue. This essay will argue
... Show more content on Helpwriting.net ...
First, the economic growth is not performed well, because the GDP annual growth is below average, which fluctuates between 1% to 2%. The inflation
rates also are below initial expectation, which is only stand for around 1.7% and it started to reach deflation. Even though, the economic growth
decline, the unemployment rate is remained stable at the point around 5.7 percent. The living standard also remain in the same rate. However, the gap
between the richer and poorer increases with almost 13–percentage point.
The overall trends shows that Australian economy is in moderate level, but the GDP annual growth is below expectation. In addition, recently Australia
are facing two important issue, which are increasing budget deficit and aging population. If the government does not give the efficient policy for
solving this problem, it can affect to decline in Australian economic performance.
Nowadays, in some developed countries its housing prices have significant increases within a period of a short time. Australia is one of the developing
countries that the house prices become extremely expensive and it is overvalued in the market. This lead affordability decreases in almost all regions of
Australia, with the most unaffordability house prices is Sydney and followed by Melbourne, Canberra, Brisbane, Adelaide, and Hobart (Scutt, 2016).
This caused the housing prices turn out to be a serious issue. One of

Effects Of China 's Fiscal For The Australian Economy
EXTENDED ESSAY
What are the effects of China's recent economic slowdown in GDP for the Australian economy?
Word Count ABSTRACT
This essay looks to answer the question: What are the effects of China's recent economic slowdown in GDP for the Australian economy? The intention
is to look at China's recent reduction in GDP rate of growth and find out if there are any significant negative implications for the Australian economy,
and further investigate fears in the media that the slowdown may eventually prove catastrophic for Australia. In order to do this I analysed information
about Sino–Australian economic relations and Australia's economy over the last few decades to see if China's slowdown had/will have any implications
... Show more content on Helpwriting.net ...
At the investigation's end, I concluded the slowdown was of little significance to the Australian economy. This was partly due to the over–exaggeration
of the slowdown by the media, who failed to recognise that China's growth is still large. Combined with Australia's diversified exports and strong
international trade relations, I concluded Australia does not overly rely on China as suggested by the media, and should continue to grow in the long run
at a healthy rate regardless of the slowdown.
ACKNOWLEDGMENTS
I would like to thank Mr Jeremy Mittson for his patience in helping me with this Extended Essay. Despite many times of difficulty throughout this
process, he has been there to put me on the right track in completing this task, for which I am very thankful.
CONTENTS
ABSTRACT #2
ACKNOWLEDGEMENTS #3
INTRODUCTION #5
PART ONE: "What is GDP?" #6
PART TWO: "How is the Australian Economy Influenced by China?" #8
PART THREE: "What are the short–term effects of the slowdown?" #15
PART FOUR: "What is the long–term, overall impact of the slowdown?" #17
CONCLUSION #26
BIBLIOGRAPHY #27 INTRODUCTION
Recently, as China has shown a reduction in its rate of GDP growth there have been many fears this could have negative implications for the Australian
economy. Lord Mervyn King, a former Bank of England governor, says that a slowdown in China

Write An Essay On Australian Economy
Introduction
Australia is a nation of striking scenes, a rich old society and one of the world's most grounded economies. It is the 6th biggest nation in area territory
and is the main country to represent a whole mainland.
With an awesome common habitat, high caliber of life and extraordinary differing qualities, Australia is a looked for after destination for global
travelers. It has 10 for each penny of the world's biodiversity and an incredible number of its local plants and creatures exist no place else on earth.
From tropical rainforests in the north to the red deserts of the middle, from the snowfields of the south–east to the Australian Antarctic Territory, it is an
incomprehensible and shifted land. Australia has numerous World Heritage destinations including the Great Barrier Reef, Uluru–Kata Tjuta National
Park and the Sydney Opera House.
Australia is the fourth biggest economy in the Asian locale and is the 12th biggest economy in the world
The economy of Australia is one of the biggest blended business sector economies on the planet, with a GDP of US$1.525 ... Show more content on
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The nation has additionally gone into unhindered commerce concurrences with ASEAN, Canada, Chile, Korea, Malaysia, New Zealand, Japan,
Singapore, Thailand and the United States. The ANZCERTA concurrence with New Zealand has extraordinarily expanded coordination with the
economy of New Zealand and in 2011 there was an arrangement to frame an Australasian Single Economic Market by 2015.
Australia Facts
1) It is the sixth biggest nation on the planet, possessing a whole mainland of exactly 7.6 million square kilometers.
2) It has the world's third biggest sea region, traversing three seas and covering around 12 million square kilometers.
3) Vegetation covers almost 7 million square kilometers or 91 percent of Australia.
4) The biggest Greek populace on the planet close to Athens in Greece can be found in Melbourne

Effects Of Ww1 On Australian Economy
Many people remained in Australia during the First World War; they faced challenges but also came across new experiences. People of all ages were
contributing in their own way to help the troops and other people still living in the country, the cost of living rose, and the Australian home front
seemed to be supportive of the war that was taking place.
The First World War had resulted in many Australian men going to war to fight on behalf of Australia. This took a toll on the Australian economy.
World War 1 affected the financial and general powers of the Commonwealth and economic growth (The First World War Impact on Australian
Economy, 2015). It also had long and short–term effects on protection, trade and total debt for Australia (The First World War Impact on Australian
Economy, 2015). The war also caused Australia to cut trading links with certain countries including Germany and Austria–Hungary (Lewis, n.d.). The
Australian Government also helped Britain's war effort by making sure that wool and meat sent to them, made it there (Lewis, n.d.). War did create
protection for Australian industries, which meant there was no more competition (Lewis, n.d.). ... Show more content on Helpwriting.net ...
Child labour laws were set but companies still went against the laws. How did children contribute to WW1, n.d.). Jobs for children during that time
were either in factories, arms manufacturing or production workplaces. They also worked as newspaper distributors, which included children as young
as the age of four (How did children contribute to WW1, n.d.). Teens and adolescents also worked during the war, but instead of newspaper distribution
jobs, they enrolled in the military (How did children contribute to WW1, n.d.). Which would have also meant that if they were too young, they would
have lied about their ages (How did children contribute to WW1,

Effects Of Ww1 On Australian Economy
The end of World War One saw the dawning of a new age of Australia. It had a great effect on the Australian economy and social structure of the world.
The Great War resulted in the death of empires, birth of nations and national boundaries being redrawn around the world. It ushered in prosperity for
some countries while it brought economic depression to others. It influenced literature and it changed culture. One of the earliest effects of World War
One on Australia, was the government's termination of trade agreements with Germany and Austria–Hungary. Australian firms benefited from this, as
they received contracts that had previously been given to German rivals – and fortunes were readily available. In 1915, no wheat was available to
Britain from Russia and there were poor crops in North America. As the government was keen to make sure that Australian wheat, wool and meat was
readily available for Britain to help the war effort, they passed a law giving them to take the whole wheat and wool harvests from Australia. This lead to
Britain buying the whole refrigerated mutton and beef supply for the rest of the war and whole wool clippings bought at 55% above pre–war values.
The shortages and war ... Show more content on Helpwriting.net ...
With 250,000 soldiers returning to Australia, they found work with varying success. The men found that in their absence, women were more widely
employed in industrial jobs, therefore, taking the jobs usually occupied by men. This is because they worked just as efficiently but were only paid half
the wage of a man. Employers were not eager to fire their female employees to allow spaces for he returned soldiers, especially because few of the
soldiers had the skills for basic work. Australia was unprepared for the sudden influx of new workers since there was no job security, public assistance
or any guarantee that the diggers would be able to find employment once they returned

Examine the similarities and differences between the Australian and Chinese economies
Australia and China have similarities and differences in their economy. Therefore, examination is made between these two nations. Similarities and
differences will be identified by GDP, GDP per capital, unemployment levels, standard of living, environmental issue, inequality and role of
government.
Australia and China's economy size has a vast difference. China's has a population of 1 billion people ranking (2nd) where Australia has a population of
23 million people ranking (12th). Gross domestic product (GDP) is used to measure the size of the economy. GDP is the total value of the final goods
and services produced within an economy in a year or quarterly. ... Show more content on Helpwriting.net ...
Environmental concerns are ¬–defined as plant activities that impact the air, water and soil quality and environmental policy are the policy to improve
and prevent more pollution. Global warming and climate change are big issues faced by both countries. Pollution and carbon dioxide emission can be
measured by tonnes per capita however this maybe an inaccurate measure as larger country such as China with an immense population the pollution
will be affected in a larger basis. China's pollution is in a substantial amount where air pollution, coal burning, flying dust and car emission is at its
highest leading to smog to majority states of the country a substantial number of citizen has been affected. However, China's government is working to
decrease the use level of environmental resources and more use of solar energy. Australia with the concern of pollution is differ to China's where air
pollution, water quality, flying dust and car emission is at a low rate. Australia's main environmental concerns is land pollution and improving air
quality. Therefore, Australia's environmental policy is to maintain reduce its waste and maintain its rate of pollution and in differ to China's
environmental concern and policy is to change the whole country's

Use Of Macroeconomics In The Australian Economy
Part A
Part B
The fiscal, macroeconomic and monetary policies have been used to stabilize the Australian economy. A fiscal policy is when the government budget is
used to manage economic activity. This means government spending and government taxation levels are altered to support long term economic growth.
A monetary policy refers to the Reserve Bank of Australia's (RBA) use of interest rates (cash rate) to influence the level of economic activity. Most
importantly, the RBA sets interest rates to increase economic activity or decrease economic activity based on a few economic indicators. The
macroeconomics is concerned with the performance of the economy.
Macroeconomics is the branch of economics concerned with large–scale or general ... Show more content on Helpwriting.net ...
This is achieved by increasing the money supply available in the economy and attempting to promote aggregate demand growth which is the sum of
private consumption, investment, government spending and imports. Monetary policy focuses on the first two elements, private consumption and
investment. By increasing the amount of money in the economy, the central bank encourages private consumption. Increasing money supply available
in the economy, also decrease the interest rate which in turn, encourages lending and investment which leads to high aggregate demand growth. It is
important for policymakers to make credible announcements. If consumers and firms believe that policymakers are committed to growing the economy,
they will anticipate future prices to be higher than they would be otherwise. The consumers and firms will then adjust their long–term plans
accordingly, such as by taking out loans to invest in their business. But if the they believe that the central bank's actions are short–term, they will not
alter their actions and the effect of the expansionary policy will be minimized.
Fiscal policy has a stabilizing effect on an economy if the budget balance–the difference between expenditure and revenue–increases when output rises
and

Australian Aviation Sector Influences On The Australian...
TOUR2010 – Applied Economics for Tourism
Economic Issues Report
Jessica Thomson
S43210338
1.0 Introduction
This economic issues report will outline how the Australian aviation sector influences both the Australian economy and the tourism industry. The report
will also highlight how the economic issues of employment, fuel consumption and environmental challenges affect the Australian aviation sector and
how these issues relate to the economic principles of supply and demand. The report will briefly explain the background of the Australian aviation
sector; identify economic market trends and current opportunities as well as highlight the potential challenges and issues within the sector, relating them
to the economic principles and finally discuss recommendations for application to the outlined economic issues.
2.0 Background Information on the Aviation Industry
"Aviation is a major contributor to Australia's tourism industry. As an island continent with no land borders, Australia relies almost exclusively on air
services to bring international visitors to the country, with over 99 per cent of inbound tourists arriving in Australia by air." (Australia, 2014)
The aviation industry plays a significant role in the Australian tourism industry and it is also central to the Australian economy, with international
aviation being a key driver of the Australian economy, supporting the growth of tourism business and trade each year. The Australian aviation industry
is

Yancoal's Contribution To The Australian Economy
In the domestic market, it is substantial for Yancoal to contribute to the Australian economy. In the end of 2013, Yancoal owns about 2000 employees at
directly operations. The company has invested billions of dollars and it aims to continue to generate more employments and royalties to the future.
Yancoal is a competitive coal exporter in Asian markets. In their vision, strong demand of coal in developing countries can elevate amount of
production for company in the future. For instance, China has a huge coal reserves. Proportion of coal in China's primary energy consumption is as high
as 70%, which means it is twice as much as the global average. Due to rapidly development of heavy industry and resource price rising, China's coal
production

Impact Of Ww1 On Australian Economy
There were many impacts on the Australians home front throughout World War 1. World War I also known as the Great War took place from July 28th
1914 to November 11th 1918. These impacts included the Australian Commonwealth Government passing the War Precautions Act that gave the
government many wartime powers including which were not supported by the constitution; the impact women made towards the war effort; how people
with heritage from countries in the triple alliance who were living in Australia were known as enemy aliens and were often sent to internment camps;
and the many different effects on the Australian economy. These different impacts on the Australian home front that created a change in how Australian
society worked.
The creation ... Show more content on Helpwriting.net ...
Throughout World War I 7000 people with German heritage were sent to these camps for national security reasons. This was because the
commonwealth government wanted to keep all of the enemy aliens in one place where they could be kept under close observation to make sure they
were not spying or participating in any efforts which could undermine the war. However many Germans were sent to the internment camps for their
own safety because of the hostility towards German people and businesses which often faced anti German sentiment. Paul Dabotzki was a Bavarian
photographer who was working in Papua New Guinea and during the outbreak of the war he moved to Australia to avoid being a prisoner of war,
however he was then classified as an enemy alien and sent to the Holsworthy internment camp in 1915. His photograph collection which was found in
2007 in Germany has over 1200 photos of life inside the internment camps. The photos show grim small housing units that are within a large complex
of barb–wire fences. These picture show how many of the internees who lived in these internment camps lived their lives. By interning many German
residents in Australia the Commonwealth Government had a large impact on the relationship between the German born Australians and the British born
Australians throughout world war

Bp Australia And The Australian Economy
Contents
Executive Summary...............................................................................................................pg.2
Introduction/How, this business contributes positively to the Australian economy......pg.3
Possible effects/impacts of current external factors.............................................................pg.4
Recommendations/conclusion..............................................................................................pg.5
Executive Summary
This report provides an analysis of the multinational company, BP (British Petroleum) and its contribution to the Australian economy through a number
of sources. The report evaluates how the business is developing amid a number of factors (Internal and external), and possible ways it deals with
changes. The main findings of BP Australia:
The company has 7,700 employees
1,400 BP branded service stations
$4.67 million given in donations and sponsorships
Inclusion of women has slowed down homogeneity
BP supports and provides benefits to local communities from both commercial business activities, such as engaging suppliers and providing energy
products and from their direct contribution.
BP 's market value reached a 1 year low following the Gulf of Mexico incident
The company 's loss in market value totalled $60 billion, a 35% decline since the explosion.
Introduction
BP (British Petroleum) is one of the largest petroleum industry company supplying oil and gas around the world. The business has employed more than
85,700 employees globally, and aims to create value for shareholders by helping to meet growing demand for energy in a responsible

The Australian Economy
This report will detail the state of the Australia economy using key economic indicators, and provide an analysis and pinpoint any economic problems.
Using this information it will further provide recommendations how to apply the monetary policy in the short and medium term to help the Australian
government achieve its main economic objectives. Finally it will state the effects of these recommendations using three outlined economic criteria.
Economic indicators and models The monetary policy is the way in which the monetary authority of the country, such as, the reserve bank, controls the
supply of money. In simple terms the Reserve Bank of Australia manipulates the amount of money the consumer has left over after satisfying his/her
needs. ... Show more content on Helpwriting.net ...
Based on the evaluation of the health of the current Australia economy the RBA board needs to take an expansionary stance in the short term and the
long term, although in the long term in needs to be less so. Meaning that over time the measures taken need to be slowly reduced. The significants of
this is that it would give the economy a 'boost' or stimulate economy growth in the short term, and over the long term offering a balanced economic
state of health. This will effectively help the Australian Government achieve its main

The Resilient Australian Economy : Australia Essay
The Resilient Australian Economy
Australia has been one of the few developed nations to remain largely unscathed by the global financial crises of 2008 – a crisis, which has left in its
wake seemingly intractable problems of unemployment, large government debts, financial fragility and political unrest in Europe, Japan and North
America (McAuley 2012). This would be further explored in the essay.
Composition
The Australian economy faces new challenges like the high exchange rate of Australian dollar that has impacted the international competitiveness of its
trade activities, mainly manufacturing. Another long–run challenge the economy faces is the dependence of Chinese economy, as they are major trade
partners. The future will depend on how the Australian economy prepares itself with corrective/reactive policy measures, trade agreements, and
innovative strategies to keep Australia's dream run of prosperity.
Chart 4: Industry Value Added and Employment, 2014
Source: ABS
The Chart 4 shows the composition of Australia's economy with the value added by each industry in the year 2014. Though mining still enjoys a high
contribution to the economy, it is on a slow decline and will continue declining as the composition shifts. A variety of factors can affect the decline such
as depletion of natural resources, climate change and change in strategy by the government. The technological know–how & progress along with high
exchange rate has had an impact on the composition. Thus,

Market Failure In The Australian Economy
Discuss costs and benefits of government intervention to correct market failure in the Australian economy. Market failure is a situation where pure
market forces such as the operation of the price mechanism fail to produce goods at a socially optimum level. In Australia's mixed market economy,
government intervenes to correct market failures. This can lead to environmental efficiency, productivity, additional revenue and employment however
it can also reduce consumer welfare and cause government failure. Government intervention corrects market failure resulting in environmental
sustainability and improved accessibility to services. Goods or services with negative externalities are market failures because the operation of the price
mechanism ... Show more content on Helpwriting.net ...
In the case of Australian healthcare, subsidization results in less competition in the market since 'artificially' low prices act as a barrier to entry of new
more efficient firms. Lack of competition leads to firms not improving their systems and practices, making them inefficient. Consequently, subsidized
Medicare also fails to achieve social interests–explain what medicare is more properly. Recently, there have been complaints regarding the poor quality
of care in hospitals. Further, the waiting periods for patients waiting to undergo Knee Replacement Surgery is a median of 216 days thus decreasing
their living standards. Similarly, the Pharmaceutical Benefits Scheme is failing to provide cost–effective medications. For example, Atorvastatin, highly
prescribed drug, costs $2.01 in New Zealand compared to $38.69 in Australia causing a loss of 1.3 billion dollars every year. Therefore, government
intervention has led to inefficiency in the workings and resource allocation. Government intervention to correct market failure can lead to increased
revenue and reduction in unemployment. The revenue generated from carbon tax in two years was $15 billion. Governments can reallocate this revenue
to other economic transactions such as the provision of necessary public goods like roads. The Medicare scheme, since 1985,

Some of the major industries of Australian economy are–manufacturing, finance, ship building, information and technology, agricultural, mining, and
insurance. Mining industry is one of the chief industries which have led to the growth of population in the Australian continent, right from the time
when gold was discovered in Australia. Mineral and fuels top the list of Australian exports. Australia has often been called resource–rich because of its
huge natural deposits of many very useful and valuable fossil fuels, metals and minerals. Although the agricultural industry has witnessed a fall from its
position during the 1970's, it still contributes towards Australian economy. Australia was one of the largest exporters of beef and wool in the whole
world and the third largest of wine and wheat. When Australia was first settled by Europeans, who brought with them their farming practices and food
processing techniques, it took a few years to produce primary products for sale.by 1790 beer, butter and cheese were on sale in small quantities in the
Sydney and Parramatta markets. But then more people started arriving in Australia and the population grew, so more food was needed. Because early
settlers saw what they believed to be lots of uninhabited land for the farmers to work with, they decided to grow both crops and raise ... Show more
content on Helpwriting.net ...
Also you can't forget tourism which is a huge contribution to Australia's economy. With having millions of tourist each year the tourism has converted
Australia to a vacation paradise with its sandy beaches and excellent foods visiting Australia is a one in a live time experience that you will never
forget. Today it is said that approximately 5 to 6 million visit

Impact Of Ww2 On Australian Economy
Australians at War World War II (WWII) made a significant impact in shaping modern Australia. This war contributed to social, political and
technological developments throughout Australia and the world. SOCIAL DEVELOPMENTS WWII had a big impact on the social changes in
Australia before and after the war. One of the reasons it had such an impact on Australia was due to the immigration policy, which was made to increase
Australia's population. The immigration policy is a policy on legal migrants. Legal migrants who come to Australia under the migration act are non –
Australians who come to the country for work or other reasons without permission or people who overstay their visas. This enforces that those who
come in the country without permission may be subject to mandatory immigration detention and may be deported from the country at any time, unless
been given permission to stay in Australia. This policy has contributed to the multicultural society of Australia today. To this day, there in an estimated
50 000 people who have overstayed their visas, most of these people come from British nations. Those touching base by boat or different means
without official classification as refugees are no longer granted permission outcast status on landing. For example, those from an Asian background are
becoming a more familiar part of Australia's society today. Overseas migrant entries have assumed a vital part in changing the face of Australia. The
current variety of migrants born in Australia include areas such as The United Kingdom, New Zealand, Italy, Vietnam, China, Greece, Germany,
Philippines and India. Since the change in immigration policy in the late 1960s to one of non–discrimination on race or ethnic background, there has
been a significant change in the overseas sources of migrants, with settlers arriving from more diverse regions of the world. To this day, Australia's
overseas born population consists of people who practise over 140 recognized ethnic groups, people who fluently speak over 90 different languages and
people who believe in over 80 different religions. This expanding ethnic and social diversity has changed the way Australians view both themselves and
other societies of the world. It has

Joe Hockey 's Impact On The Australian Economy
Whilst Joe Hockey has attempted to replace the age of entitlement "not with an age of austerity, but with an age of opportunity," by taking extreme
fiscal measures, the government have focused the 2014–15 Budget on pulling the economy out of deficit in the future, they have not looked at how the
Budget is affecting people at this present moment. As a result, Joe Hockey has failed to show fairness in this years' budget.
Current State of the Economy
Where did the Labor Government leave Australia's Economy?
The Labor Government have had a major impact on the Australian Economy, which has made it quite difficult for the Coalition to inherit. Joe Hockey
stated that "Sixteen years of deficits without a recession, without any significant ... Show more content on Helpwriting.net ...
Over the four years from 2009–10 to 2012–2013, Labor had met its fiscal rule of keeping the average spending growth rate to less than 2% a year
(Musgrave, R. A. n.d). This was the lowest period of spending growth in 23 years, meaning that not enough money was being injected into the circular
flow of income. This reduced aggregate demand as consumer spending was low. In order to ensure that key spending was sustainable, structural
improvements were required for the 2014–15 Budget. Overall, the Labor government has left a disastrous legacy of high debt for the Liberal
government to try and overcome.
2014–15 Budget Allocation Resources Revenue Expenditure
Education Gonski Education funding reforms to be unwound, saving the commonwealth up to $30 billion
University students to repay HELP loans earlier Subsidies extended to private institutions, given the ability to set their own fees
Funding commitments are honored
Health Rudd–era hospital funding deal with states to be unwound, saving the commonwealth up to $50 billion
Patients will pay a fee of $7 for every GP visit– capped at 10 payments a year for children and concession–card holders.
$5 of the fee will fund a new medical research fund that will grow to $20 billion
Medicare safety net will be cut for most people No expenditure
Welfare Family Tax Benefit Part B means–tested at $100 000 and removed once children turn six
Under 30's will have to wait six months

Compare Indonesia And Australian Economy
Transcript: Comparison of the Australian and Indonesian economy
The role of an economy is to effectively make use of a countries resources, thus increasing economic performance. If economic performance of a
country was at a maximum, then the country would have substantial wealth and therefore purchasing power, which would be available to spend on
allocated departments including: health, infrastructure and military, to name a few. A countries wealth gives an indication of its living standards, with an
increase in wealth it is probable that the living standards will also increase simultaneously. Although the entirety of the concept of improving living
standards is not solely determined solely by a countries wealth. There are also a number of ... Show more content on Helpwriting.net ...
Indonesia had a GDP of 868.3 billion international dollars (GDP of Indonesia, 2016) and a GDP per capita of 3,475.25 international dollars in 2013
(GDP per capita, Indonesia, 2016). The GDP is primarily used to indicate an economies performance, it is measured by Y = C + I + E + G, where Y =
GDP, C = Consumer Spending, I = Investment made by industry, E = Excess of Exports over Imports, G = Government Spending (Birch T, 2016). The
GDP per capita is calculated by the GDP of a country, divided by the population of a country. The GDP and GDP per capita are very vital indicators of
an economies progress. A rise in GDP shows that there an increase of value in an economy or there is a higher income or rise in expenditure which
implies that there is a rise in the standard of living of the citizens and due to rise in income there will be a higher spending on various goods and
services like healthcare, education, etc. Therefore as Australia's GDP is higher than Indonesia's there is an indication of higher living

What Is The Impact Of Globalisation On The Australian Economy
Write a report to:
 Discuss what is meant by globalisation is the integration of economies, industries, markets, cultures and policy–making around the world.
 Examine and discuss the recent acceleration (reasons) of globalisation
Global trade has grown massively since World War Two, international trade in manufactured goods has grown an estimated 100 times from $95 billion
to $12 trillion in the 50 years since 1955.
 Explain the effects, benefits and costs of globalisation
Globalisation has effects on the environment, culture, political systems, economic devel`opment, prosperity, and on human physical well–being in
societies around the world. Globalisation allows free transfer of capital, goods, and services across nations.
 Read more: http://www.businessdictionary.com/definition/globalization.html#ixzz48OXgPQsf
 Discuss ... Show more content on Helpwriting.net ...
http://www.i–repository.net/contents/outemon/ir/501/501141207.pdf
 Explain one positive benefit of globalisation and its impact (opportunities) on the Australian Industry you have selected with reference to the articles
collected and any other information you have researched.
Foreign investment has allowed the Australian economy to thrive cutting unemployment, doubling the country's wealth and reducing national debt.
Australia has leveraged trade to its advantage, with mining and other industries taking advantage of the fast–growing Chinese economy. Australia
removed most trade tariffs and opened its banking to foreign partners, creating a successful investment climate.
http://yaleglobal.yale.edu/content/australia–crossroads–globalization 22
 Explain one negative effect / cost of globalisation on Australian business (include graphs and tables)
 Make appropriate conclusions about the overall impact of globalisation on the Australian business community (positive and/or negative

Economic Growth In Australian Economy
At the present, the Australian economy is still in a period of slow economic activity brought about by multiple contributing factors. A large factor of this
would be the decrease in China's level of economic growth that has resulted in a large decrease in demand for Australia's goods and services. Presently
Australia's percentage debt to GDP ratio is approximately 41.1%. Since the previous year the debts rate of growth has increased slowly. This level of
debt is the highest that Australia has ever recorded. For the 2016/2017 budget the estimate for the government revenue this year was approximately
$406 billion. The predicted spending for the government during this year was $451 billion. Therefore, the gap in the government expenditure and ...
The terms of trade even has the potential to enter into a surplus if the conditions improve further. The improvement in the terms of trade shows that
Australia's exports are strong and that domestic businesses are able to compete with those from overseas.
1) A statement about the main economic problems currently in the Australian economy or problems it may face in the future.
During the financial year of 2016–2017 the deficit in the budget for Australia was approximately $37.1 billion. However, during the 2017–2018 year
the budget is expected to increase by $29.4 billion which is greater than the expected $28.7 billion forecast in December 2017. The nation's first budget
surplus since 2007–2008 forecast to be reached in 2020–2021. This means that the Australian government expects the economy to enter a boom during
2020–2021 where the budget enters a surplus. The total government debt is expected to reach $715 billion during the 2017–2018 financial year. The
problem associated with having too much debt is that it can limit you're economies economic growth and it may be difficult to escape it, when it
reaches serious levels the government may not be able to fund certain public services, this is what happened to Greece resulting in them needing to be
bailed out by the European Union.
As Australia is considered to have a transitioning economy, a lack in job

Australian Economy Challenges
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 ... Show more content on Helpwriting.net ...
The National Workforce Development Fund supported 130 new workplace skills projects, with an additional 15,000 individuals receiving training,
these initiatives will complement $1.75 billion National Partnership Agreement in helping to ensure more Australians can access the training they need
to improve their employment prospects to prepare them for future employment opportunities.
The Gillard government extension of the Youth Connections program from the 1 January 2012 to 31 December 2014 helped young people ages 15 to 19
who have not completed year 12 or equivalent to overcome barriers preventing participation in education, training or

Japanese Economy Vs Australian Economy
All economies are trying to solve the same problem; how do we satisfy our unlimited wants with our limited resources? Since all economies are
working to achieve a solution to the same economic problem, they have resulted in similar economic structures, although this was not always the case.
Therefore, economists must compare economies around the world, such as Japan in order to see and understand how Australia's economy develops,
performs and operates. The advanced Japanese economy and the largest mixed market economy; the Australian economy have many similarities and
differences in many areas. These include; the distribution of income, environmental sustainability, economic growth and quality of life, employment
rates and the role of the government in providing healthcare, education and social welfare.
Economic growth and the quality of life
Economic growth is the overall growth of an ... Show more content on Helpwriting.net ...
Japan has a HDI rank of 17th determined by its $US 36,332 GDP per capita whereas Australia's HDI rank is 2nd and has a GDP per capita of $US
61,219. These rankings and GDPs are determined by Japans 0.933 HDI, 83.6 age life expectancy and 11.5 mean years of education. Australia's ranking
and GDP are determined by its 0.890 HDI, 82.5 age life expectancy and 12.8 mean years of education.
Employment and unemployment
There is a general upwards trend in unemployment in Japan, directly contrasting to Australia's declining unemployment rate. Australia's current
unemployment rate is 6.0% and Japans is 3.7%
Employment patterns in Australia show that majority of the population are employed in the services industries, which include; retail trade, real estate
and business services. Similarly Japan, which like Australia has less than 5% of its workforce employed in agriculture and around 75% in services.
Distribution of

Australian Economy Essay
Australia is ranked 12th largest economy in the world and is increasingly tied to fast–growing economies in Asia. It has transformed to an open, export
oriented market economy with a GDP of approximately 1.5606 trillion USD since the economic reforms program introduced by the government in
1983 (Economy Watch, 2014). These reforms include reducing tariffs and nontariff barriers, floating the Australian dollar, deregulating the financial
service sector, increasing efficiency between the federal and state branches of government, and reforming the tax system (Economy Watch, 2014).
Today, Australia has a very healthy economy, stable government, sound infrastructure and manufacturing, and superb communication network. It
therefore was ranked 3rd ... Show more content on Helpwriting.net ...
In low UCI country, people tend to have greater acceptance and strong desire to avoid uncertainty (Fletcher & Crawford, 2014) whereas Australians
show greater emotions and aggressive behavior than in Singapore when they are threatened by uncertainties.
Hofstede's (1980) cultural dimensions demonstrates the importance role of culture plays in exporting business to foreign country. Because people are
born with different values, personalities, beliefs and preferences, it is very essential to highlight the differences before actions are taken. The above
discussions reveal that there must be some adjustments to be made by Bee Cheng Hiang in order to be successful in Australia.
Religion is one of the most sensitive elements of culture. According to Index Mundi (2014), 28.8% of the residents are Protestants, 25.3% Catholics,
22.3% are of no religions, 4.5% Christians, 2.5% Buddhists, 2.2% of Muslims. and other. Besides, it is warm–hearted to bring some unique home
country preserved food products when you are invited to an Australian's home (Euromonitor International,

Explain How Australian Economy Will Remain

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