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The Impact of Globalisation on the Australian Economy

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The Impact of Globalisation on the Australian Economy

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  • July 31, 2010
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The Impact of Globalisation on the Australian Economy

Globalisation refers to the process of increased integration between different countries, (too many ‘and’) economies and the increased impact of international influences on all aspects of life and economic activity. ( u need a better definition of globalization.) Globalisation The process of globalization involves growing economic integration and interdependence among nations. This can be reflected in increasing actual movement across nations of Trade, Investment, Technology, Finance and Labour. Globalisation has enable easy access and the capacity to move across nations.

Globalisation and Technology
Despite repeated reference to Australia being an ‘old economy’, there is considerable evidence to support Australian growing acceptance of technology and globalised communication and trade. ( need to rephrase this sentence- not making sense) A recent OECD publication rated Australia highly amongst the 27 OECD nations for its involvement in the information and communications technology sector (ICT). Australia was ranked: ??? (stats needed here)

The Australian Bureau of Statistics also reports a growing acceptance of online shopping amongst Australian consumers. More than 1.3 million Australian adults purchased or ordered goods and services for their own private use over the internet. (You need to relate it to globalization of technology and how we are integrated throught techno)

Globalisation and the Labour Market
The international movement of labour has been growing since the 1960s. Around 2.3% of the world population lives outside their country of birth and 1.5% of the world’s workforce works in countries other than those of its citizenship. This trend is on the increase with the World Wide Web opening the door for skilled individuals to apply for positions in almost any country in the world. Newspapers, such as the Australian or Sydney Morning Herald, offer Australian school teachers jobs in...