Globalization in Australia
Globalization in Australia
Globalization literally means the process by which the local phenomenon is transformed into global ones where every person in the world is united into a single society and work together as dependent partners. For a country to be globalized, it has to coordinate its economic, social, cultural, political and political aspects. Basically, the term Globalization has been used to refer to only the financial aspect of Economic Globalization which is the transformation of National Economy into International Economy through Technology, Capital Flow, Foreign Investment, Migration and Trade (Hirst and Thompson, 247).
According to the UN-ESCWA , the term means, elimination or minimizing of national boarders so that the flow of goods, services, capital and labor can be facilitated. As globalization continues to sweep every nation, it has had its ups and downs. While on one side it helps in opening up of new markets and wealth creation, on the other end, it is a major contributor to the world disorder and unrest. Economic globalization can be measured using mainly four economic flows:- goods and Services, Technology, Capital and Labor (Bracer and Costello, pp. 19).
This essay will look at the features of Globalization in Australia, How the process is driven, the effect that it has had on political scene of the country and finally it will look at how it has affected Australian relationship with other countries. Political Perspective of Globalization Australian Globalization has taken effect on its political system, research resented in (Gupta, pp. 37) show that, apart from concerning itself with the issues of the national governments like security and economic welfare of its people, the Australian government has taken into pursuing political matters in the global arena.
They have joined the member groups of known World institutions like the European Union, International Monetary Fund, World Trade Organization and the World Bank among others to help them in this effect. The influence of the Australian Government through these institutions has managed to transcend even beyond its boarders. By using the Central national government, many NGOs with their origin in Australia have been established to help in numerous global issues like the human right concerns, environmental concerns and civil society matters. Domestic Aspect of Politics of Globalization
Globalization effect in Australia has seen the gap between the rich and the poor fall by nearly Ten Percent in less than three decades. And not only did that happen, but there was also a notable reduction in the number of undernourished children. The average life expectancy in the same period of time shot to 66 from 58 years while the infant survival per every 1000 rose to 67 from 44. As the country’s economy grows, say by for instance 10%, so do the poorest people in the country by the same margin, thanks to the liberalization of Trade and high technology(Oxley,2003).
Since it started expanding, Australia has done so without any sign of recession. It has been so good in doubling the countries wealth and cutting down on unemployment. This big boom has seen the prime minister, John Howard bolster his political fortune with great confidence. The Australian market which was once an isolated market, has undergone great transformations to the point where it can comfortably take advantage of the global market. Australia’s Domestic and International Economy Australia’s economic system is one of the most open in the globe that is; in terms of foreign investment and tariffs.
The positive effects of globalization to this country are numerous, some of which are; the Reduction in the transport cost, Easy communication and Cheap offshore production. While it is apparent that globalization can either bring blessings or curses, to Australia it has brought blessings in abundance, The Australian government, through the labor unions have secured great productivity gains. The labor unions which were held in a high state demanded for high pay to their members… they were granted this wish and the results of it was astounding. It saw a dramatic gain in productivity (Arnoldy. pp.
13). Relationship Between Australia and other Developed and Developing Countries The relationship that Australia has had with different nations is shaped by its position as the leading nation in trade and more so its role as being a major donor of humanitarian aid. It has a strong bilateral tie with all its allies and there keen concern regarding the debated on terrorism, free trade and other economic cooperation strategies ( Croucher, pp. 10). Their active participation in the affairs of Commonwealth Nations and United Nations put them in a position of being a darling of every sovereign state.
Australia has also joined several of such world organizations like the Economic and Social Funding in 1994, Security Council in 1986 and Cairns Group of Countries (to press for Agricultural trade reforms). It focuses most of its attention to developing countries like Singapore, Indonesia, Philippines, Thailand, Malaysia and Brunei. On the other hand developed nations like the United States, United Kingdom, Japan and China are not left behind. Australia’s major import partners include China Japan, Germany, and Singapore while its export partners are Japan, China, New Zealand and South Korea (www.
worldgrowth. org). The future of Australia seems to be quiet bright as far as globalization is concerned. If the current trend continues, then we will witness a lot more fragmentation, personal freedom, Emergence of bigger organizations and wider connectivity. Works Cited Alan Oxley. (2003) “Globalization and Australia”. Australian APEC Center, Monash from www. worldgrowth. org Retrieved on 09-02-2009. Ben Arnoldy. (2006). “Australia at the crossroads of globalization ”. The Christian Science Monitor. Sydney, Australia. pp. 12-19. Bhagwati, Jagdish. (2004).
“In Defense of Globalization”. Oxford, New York: Oxford University Press. pp. 51-87. Hirst and Thompson. (2002) “The Future of Globalization”. Published: Cooperation and Conflict, Vol. 37, No. 3, pp. 247-265. Jeremy Brecher and Tim Costello. (1994): “Global Village or Global Pillage: Economic Reconstruction From the Bottom Up”. Boston, South End. pp. 19-23. Satya Dev Gupta. (1997): “The Political Economy of Globalization”. Boston, Zed Books. pp 29-64. Sheila L. Croucher. (2004). “Globalization and Belonging: The Politics of Identity in a Changing World”. Rowman & Littlefield. pp. 10.
University/College: University of Arkansas System
Type of paper: Thesis/Dissertation Chapter
Date: 28 September 2016
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