Impacts of Globilisation a Case Study of Australia

Topics: World Trade Organization, United Nations, International trade Pages: 5 (1346 words) Published: September 3, 2006
Globilisation has both positive and negative impacts on the world's population:

Globilisation defined as a process of interaction and integration of the people, companies and governments of different nations, a process driven by international trade and investment and aided by information technology. Globilisation affects countries economically, environmentally, politically, culturally and socially. Its affects have both positive and negative repercussions. The impact of Globilisation is passionately argued and debated; it can be viewed as a greatly beneficial happening, prosperous and opportunistic for all, it is also seen as detrimental, homogenisation of culture and society increasing the gap between the rich and the poor. It is an inevitable occurrence directly impacting upon Australia and its global links. Australia's role internationally is significantly influenced and shaped by globilisation. Globilisation has effects: globally, the creation of a global community; nationally, opportunities for economic growth via exposure and access to other economies and locally, the increased availability and accessibility of commodities and information to all peoples.

Australia's role and importance in the global community is becoming of increasing significance as the breaking down of national barriers occurs. Australia's access to economic growth has greatly increased with the forging of promising bi-lateral economic relations with multiple international economies. Australia's position in the global community has profoundly affected the behavior of Australian Government, businesses and households. The de-regulation of economic activity through government policy has aided the Australian economies position to advantageously access the opportunities arising from globilisation. Financial institutions all view and implement business strategy in this modern day in a globalised market. Globilisation has presented Australia with the opportunity to forge international links with countries otherwise inaccessible.

As a nation with global interests, Australia deals with countries in many regions. Countries of most significance are those which offer powerful strategic prospects for the future and considerable opportunity for trade and investment. Foremost among these are the three major powers the largest, most affluent nations of the Asia-Pacific region: the United States of America; Japan and China. Indonesia one of Australia's closest neighbors is an important link, which has recently considerably prospered after significant strain caused by developments in East Timor. Important global links are also maintained with nations belonging to ASEAN, members of the European Union, the Republic of Korea, New Zealand and Papua New Guinea. The result of globilisations ability to break down trade barriers is evident in the long-standing and highly successful Free Trade Agreement with New Zealand (the ANZCER announced in 1983) and the Free Trade Agreements with Singapore, the United States and Thailand all which have been successfully formed within the past two years.

Globilisation has positive influences that affect individuals, businesses and Governments. Globilisation incurs the greater mobility of commodities, money, information and people. This is because of the great advancements in information technology and the existence of transnational corporations such as Nike and Ford. Globally barriers are broken down, stronger bonds are able to be formed and theoretically resources and services are able to be spread evenly. The need for international organisations to regulate and govern International trading and interaction arises and is evident in such bodies as the United Nations and The World Trade Organisation. Transnational corporations bring wealth to local economies when they buy local resources, products and services and also in their ability to provide employment opportunities thus providing resources for education,...
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