The Effects of Globalisation on Australia - 2359 Words

â€Å"The Effects of Globalisation on Australia† Economic, Social, Cultural, Environmental and Political Word Count: 1,638 Table of Contents Table of Contents 2 Executive Summary 3 Introduction 4 Economic 5 Social 7 Cultural 9 Environmental 10 Political 11 Conclusion 12 References 13 Executive Summary The effects of Globalisation on Australia can be disseminated into a number of different categories. For the purposes of this report five major categories including Economic, Social, Cultural, Environmental and Political have been explored and summarised but is by no means exhaustive. The overall effects and impact of globalisation on Australia may well be positive to the general population, but there will always be†¦show more content†¦The internet has allowed the money market to operate 24 hours a day. It has been noted however that exchange rate volatility has increased,[v] which makes it more difficult for the government to set monetary policy. Microeconomic reforms, structural changes and the introduction of new technologies altered the level of production and consumption in the manufacturing sector in the late 1980’s and 1990’s. The textile, footwear, clothing and motor vehicle industries were dramatically affected by these reforms and many jobs were l ost. The Australian Government participated in the reduction of trade barriers as part of the General Agreement on Tariffs Trade (GATT). As a result there have been pressures on the above mentioned industries that were previously protected. They have effectively become, or are becoming, casualties of what is termed ‘a race to the bottom’ between national governments as they attempt to attract investment by undercutting competition.[vi] The industries without protection are inefficient and thus profit is affected forcing firms to shift elsewhere or outsource in search of improving efficiencies. Many Australian businesses are now outsourcing, or shifting their production or services offshore where there is cheapShow MoreRelatedSocial, Economic, Political And Environmental Factors Of Globalization1429 Words   |  6 Pagesthe phenomenon of Globalisation in Australia. The report will analyse the social, economic, political and environmental factors of globalisation in Aus tralia. In these factors will discuss the positives and negatives of each impact. Then an overall conclusion will be made about whether Globalisation is a negative or positive in Australia. Background Globalisation is the process of globalizing, or extending to other or all parts of the world. Globalization (or globalisation) is the process ofRead MoreImpact Of Globalisation In Australia1479 Words   |  6 PagesGlobalisation is the developing economic interdependence among nations reflected in increasing actual movements across nations of trade, investment, technology, finance and labour, with the ability to move and the potential movement across nations with those five elements. Australia’s involvement in trade, investment, financial flows, technology transfers and the migration of labour since its foundation as a colony, has impacted and changed the structure of Australia’s trade, with considerable growthRead MoreImpact Of Globalisation On Higher Education940 Words   |  4 Pagesjsil3278@uni.sydney.edu.au Topic: What impacts has Globalisation had on higher education (HE)? A comparative study of Australia and United Kingdom. Special Project Objective: The primary objective of this special project is to present a critical review of comparative research into the impact of globalisation on higher education (HE) in the United Kingdom (UK) and Australia. Emphasis will be placed on the historical and political-economic causes of globalisation and the associated neo-liberal ideology whichRead MoreThe Consequences of Globalization in Australia1293 Words   |  5 PagesWhat factors are involved and consequences of globalisation for Australia? Much discussion has been conducted on the topic of globalisation of the world of economy. Globalisation may be defined as the increasing economic and financial integration of economies on a global scale. Factors enabling globalisation include the change in technology which is the socialised knowledge of producing goods and services, as well as the reduction in the protection of the world economy such as the successive reductionRead MoreAustralia s Cultural And Social Change1517 Words   |  7 Pagesthe understanding of Australia with comparing another interpretation. Lynda Ng views Christos Tsiolkas’s novel, Dead Europe, as a story, which represents Australia by its connection to Europe and globalisation and cosmopolitanism. In Ng’s article, â€Å"Dead Europe and the coming of age in Australian literature: globalisation, cosmopolitanism and perversity†, she focused on several points, which represent Australia. Firstly, Ng mentions whether it is possible to understand Australia as a new country. GenerallyRead MoreI.On The 23Rd Of November, 2016, The Economist Magazine1259 Words   |  6 Pagesas part of its effort to enact United Nations Security Council sanctions aimed at preventing the countries weapons and ballistic military program. I. Donald Trump’s decision to leave the TPP will greatly affect the economic factors relating to globalisation. The TPP had great potential to strengthen trade ties between the original 12 Pacific Rim countries involved. This accounted for 40 percent of the global GDP, making it the largest deal in history with a combined GDP of $27.4 trillion (Aleem, 2017)Read MoreThe Pros And Cons Of Globalization803 Words   |  4 PagesThe term ‘globalisation’ is commonly used to describe a modernisation and capitalist expansion, that entails a variety of economic, cultural, social and political changes over the past 50 years, that have shaped the world today (Guttal, 2007, pp. 524). An important aspect of this concept, is the rapid increase in transnational movements of goods and services, and the weakening notion of national and geo-political borders. Not only has globalisation created economic prosperity but also a large flowRead MoreYouth And The Hip Hop Youth Culture1695 Words   |  7 Pagesliving and they revolve around peer groups that stress a definitive style of living as an external designation of affiliation and appearance. In this essay, I will analyse how globalisation, popular culture, and consumerism emerge as factors that influence the participation of young people in the hip-hop youth culture in Australia. I will also apply the human ecological theory in order to facilitate the understanding of factors that affect youth participation in the hip-hop culture. Culture is generallyRead MoreGlobalization Is A Source Of Anxiety Essay1524 Words   |  7 Pagesdismantled. But what implications does the process of globalization have with regards to its effects on real people in real time? Given the vastly different political and economic climates of different societies around the world, as well as the vast differences between class groups within individual societies, this issue is not as simple as pointing to an individual ethnographic example and stating ‘globalisation affects all of humanity in this way’. There are clearly going to be varying degrees of positiveRead MoreEssay on Globalization and International Management1582 Words   |  7 PagesIntroduction According to the Scholte’s book entitled â€Å"Globalisation: a critical introduction†, the explanation of the word â€Å"Globalisation† is summarised in five aspects, that is, internationalisation, liberalisation, universalisation, modernisation, supraterritoriality (Scholte, 2000). In a simple way of thinking, Globalisation is towards to connect every country in the world together in both positive and negative way. Samson and Raft (2005) defined that Organisational culture as a: ‘system