The economist describes the definition of a banana republic as “a country dominated by foreign investment and dependent on a single export commodity” (The Economist. 2014). This definition has some correlation to the Australian economy as over previous year’s Australia has experienced a commodity boom which has dominated and under pinned the nation’s economy. The development of the natural resources industry in Australia has grown the economy and has become the number export for the nation (Figure 1). Australia’s reliance on the commodity industry does not support long term economic stability for the nation, commodity prices are falling as the developing world industries slow down. The Australian government must continue with the development of the commodity industry but must also invest into developing new industries that will ensure the economic growth of the nation continues and to ensure the nation is not dependent on the natural resources of the country.
Figure 1: Composition of Exports 2009(Ian McCauley 2012)
In the past the nation has been a significant exporter of agricultural products such as grain and livestock, it was able to make advancements in the manufacturing industry by imposing high tariffs on imported goods. This was until internationally and locally it was not viable to continue with these economic policies and the Australian market was opened up with the lowering of tariffs and the floating of the Australian dollar. While this benefited the economy with free trade agreements, foreign investment and a diversification of the export base it also contributed to the demise of other industries (Sara Cousins 2013). Throughout Australia’s economic history mining and the exports of commodities have been ...
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...conomy–well prepared for the challenges ahead. [ONLINE] Available at: http://www.dpmc.gov.au/publications/skills_for_all_australians/chapter2_the_australian_economy_of_the_future.html. [Accessed 04 March 2014].
(The Economist. 2014). The Economist explains: Where did banana republics get their name? |. The Economist explains: Where did banana republics get their name? | The Economist. [ONLINE] Available at: http://www.economist.com/blogs/economist-explains/2013/11/economist-explains-16. [Accessed 28 February 2014].
(Zheng, Bloch 2012) Australia’s Mining Productivity Paradox: Implications for MFP Measurement by Simon Zheng, Harry Bloch: SSRN. 2014. Australia’s Mining Productivity Paradox: Implications for MFP Measurement by Simon Zheng, Harry Bloch: SSRN. [ONLINE] Available at: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1715235. [Accessed 03 March 2014].
company current financial performance. Furthermore, we examine and identify the impact of business acquisition strategy to the corporate financial. Finally, the report will conclude with recommendation. II. FINANCIAL ANALYSIS a. Macro-economy Economy condition in Australia shows upward trends proven by the 3% increase of its economic growth (Figure 1) and decrease in the inflation (Appendix 1). Meanwhile,
The Economic Impact of Tourism The Effects of Tourism on Dubai Introduction Dubai is one of the few cities in the world that has undergone such a rapid transformation - from a humble beginning as a pearl-diving center - to one of the fastest growing cities on earth. Dubai today is a tourism, trade and logistics hub and has earned itself the reputation of being the ‘gateway between the east and the west.’ It is also considered as the dynamic nucleus
model, has revealed the threats to the company from the environment. Can the company deal with these threats? How should it change its business-level strategy to counter them? To evaluate the potential of a company's business-level strategy, you must first perform a thorough SWOT analysis that captures the essence of its problems (Rosen
Coast be a city that is safe and healthy for all. Liveability is critical to the establishment of an ecological city. Most modern cities want to be considered livable. Because it is a title that attracts investments opportunities, boost local economies and real estate markets, and foster community engagement (livablecities.org). According to the Australian government "Liveable cities are equitable, socially inclusive, affordable, accessible, healthy, safe and resilient. They have attractive
region, it will expand the dealer networks and also supply chains. To continue to exceed, Ford is listening to its customers, dealers, and suppliers and including them in the development process, which will in turn lead to a greater economy and low developmental costs. Ford must continue to focus on their products and ensure cost reductions within the competitive markets. They should continue to implement the strengths of the company. Works Cited CNN Money. Fortune 500. (2011). Retrieved from website:
.ive in the paths of approaching storms. Development policies that diversify the economy so that the poor do not need to live near flood prone land for a livelihood should be encouraged. Similarly, primary healthcare must be implemented so that the population is more resistant to disease in the aftermath of disaster. Communications infrastructure should be improved to enable more rapid evacuations. The science of prediction must be continually developed by investing in appropriate technology and
important role in reallocation of resources in an economy. Despite the huge increase of corporate mergers and acquisitions during the last decades many surveys show that the majority of them fail (Nguyen and Kleiner 2003).The purpose of this essay is to give a brief overview of mergers and acquisitions by providing the main key drivers behind this trend, the basic reasons why they fail and some recommendations for better results at the future. Firstly it must be mentioned that despite the fact that mergers
1.0 Introduction Dubai’s debt exists as a fundamentally important aspect of modern economic research. Set against a backdrop of fluctuating stock prices, an unstable real estate market and an uncertain world economy, speculation about the future of Dubai is rife, despite Dubai initially appearing to bear the global financial crisis far better than most other affected countries. However, Dubai shocked the world by requesting a moratorium on debt repayment on 25 of November 2009. Foreign banks had
low-carbon energy options in any plan ensures the largest base for emissions reduction. Predictable and gradual – ensuring that future carbon costs are predictable facilitates investments that reduce emissions; a gradual change in price gives the economy time to adjust. RESPECTING HUMAN RIGHTS They have a responsibility to understand our potential impacts on human rights and to mitigate or eliminate them. They are committed to operating in accord... ... middle of paper ... ...eberg are the beliefs
Their medical tourism is booming for they offer world class medical services at better prices than their competition in more developed countries (Lee & Park, 2013). Their political economy is stable as the various ethnicities and races are represented in the government. Over time, this has attracted investors for the economy is growing and continually presenting... ... middle of paper ... ...ll their activities in the country Advertising Using the various platforms such as social media to advertise
When companies merge, frequently they have an opportunity to combine locations or reduce operating costs by integrating and streamlining support function. This economic strategy has to do with economies of scale: When the total cost of production of services or products is lowered as the volume increases, the company therefore maximizes total profits. This occurs when a larger firm with increased output can reduce average costs. Lower average costs
underlying factors that contribute to this lack of development in the Global South are Institutions, Culture, Geography, and Imperialism/Colonialism. The Global North refers to “industrialized nations, including West Europe, North America, Japan, Australia, and New Zealand, that are part of a structurally integrated system of global capitalism”(MacLean and Wood p.245). The term Global North is interchangeable with developed countries, the West, industrialized countries or the First World. The Global
and is an important global business as well as transportation hub. In 2014, the Singapore economy grew by 2.9% as compared with 4.4% in the previous year. The largest sector of the economy is services and accounts for close to 72% of the GDP while other industry contributes the remaining 28%. Tourism development is a crucial part of Singapore's energy to transform into a lively city and an enhanced economy. Our tourism scene has changed throughout the years, with the presentation of amusement changing
Indeed, in some markets (US, Australia, Japan, Spain, Denmark) Harley-Davidson tries to attract new customers using advertisements, but in other markets such as the Europe, the strategy is more the usage of the promotion in specialized magazines. Another interesting point is tha... ... middle of paper ... ...ording to me, this is the reason why the median age of Harley riders is growing up. So, Harley-Davidson should try to go to other segments, in order to diversify its customers. Harley has well