Many opportunities and challenges await the global economies of today. The balancing of one country’s financial position has the capability to bring down an entire nation in an instant. One country’s financial gains require financial losses of another. The Australian economy is currently undergoing a major shift that is leading to low productivity and increased unemployed. Despite its current growing pains, the Australian economy remains resilient and is positioned to continue into its “23rd year of uninterrupted annual economic growth”.
Australia is comprised of six states and a land mass size of 2.9 million square miles. The country is sometimes referred to as the world’s largest island. Australia is the world’s sixth largest country as measured by land size and has the world’s twelfth largest economy as measured by total GDP (nominal). Australia has the world’s largest supply of lead, nickel and zinc and is a global leader in the mining industry. Australia is one of the wealthiest developed countries in the world with the fifth largest per capital GDP (nominal) income of A$67,722. At the same time, Australia has a large inventory of high home prices and some of the highest household debt levels in the world.
Australia’s population has grown exponentially over the past 10 years and is mainly due to immigration. Approximately 28% of Australia’s current population was born outside the country and the rate is almost twice that of other advanced economies. Australia’s population increases are the opposite of what is happening in other advanced economies as population growth rates have been declining over the past several years. Demographic trends are an important factor in many economic decisions and have a significant imp...
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Migrants have been the heart of building Australia into a strong economy. Migrants in modern Australia create jobs and business opportunities and continue to add to the rich social and cultural fabric of Australian society. Business Skills migrants create on average six new jobs and invest millions of dollars into the economy. They have brought new ideas and new technology to the areas of medicine, science, information technology, mining, primary industry and business. Their familiarity with different cultures, languages and lifestyles as well as how overseas business works has helped local companies compete in Australia and overseas. The current Migration Program is balanced and targeted to meet our economic, environmental and international objectives.
MacDermott, D. (1993). As we see you. In D. Grant & G. Seal (Eds.), Australia in the world (pp. 86-91). Perth: Black Swan Press
In response to the most challenging global economic conditions since the Great Depression, the 2009-2010 Budget and the Economic Stimulus Plan focused on nation building and was crafted to boost employment, create a solid foundation for future growth and place the Australian economy to capitalise on the global recovery.
By implementing these strategies the government will have created a stronger, more efficient economy, and the focus on a stronger labour force encourages future economic growth and development for Australia.
6. Scheueneman, Tom. "A Carbon Tax is More Viable than Cap and Trade." RSS. 26 July 2012. The Energy Collective. 11 Mar. 2014 .
Australia was originally a collection of six independent colonies and due to many reasons discussed in this essay, they drew together and became a Federation. Although the States still retain their own identities, it is as Australian's that we are united and identified against the rest of the world. Australia has become a recognized nation with political and military standing.
Among world regions, the number of unauthorized immigrants from Asia, Central America and sub-Saharan Africa rose between 2009 and 2014. The number of immigrants from Mexico has steadily declined since 2007, the first year of the Great Recession, but Mexicans remain more than half (52%) of U.S. unauthorized immigrants. ”(Jeffrey Passel). “Population growth is influenced by three factors: mortality (the death rate, which has been steadily decreasing in the U.S.), birth rates or fertility (children per woman) and net immigration (immigration minus emigration). “ (USPS).
The health of a labour market can be judged by levels of unemployment and changes in wage growth. Both of these issues come into play when The Australian Financial Review reports that the Australian labour market has tightened over the past twelve months and comments on predictions for the coming year.
Australia’s fortunes are shaped and determined by the political, economic and social forces with the engagement with the Pacific. Australian policies towards the Pacific show a massive measure of continuity with the policies pursued by the conservative Coalition government. The engagement with the Pacific has the impact of proximity and the regional variations with the international policies on Australian policies in relation to neighbouring countries.
Australia is a unique country, and it has a long history of population growth due to
Permatasari, S (2011, 7 August) Australia’s Economy has Strength to meet challenges, Swan Says; Bloomberg, Retrieved from http://www.bloomberg.com/news/2011-08-07/australia-s-economy-has-strength-to-meet-challenges-swan-says.html
This paper will be a discussion of the current economic condition of the United States and this writer’s opinion on how it can be changed. Unemployment is high and needs to be reduced to full employment. We will explore the inflation rate, GDP growth and other factors of our current economic situation.
The United States and New Zealand established close ties in 1942, when the U.S. provided security for New Zealand during World War II, and have remained close ever since. However, in 1984, the Labour party came into power in New Zealand, with intentions to bar nuclear-armed and nuclear-powered warships from New Zealand ports. Implementation of this anti-nuclear policy was incompatible with U.S. policy and disrupted the alliance under the Australian, New Zealand, and United States (ANZUS) security treaty of 1951. After unsuccessful attempts to remedy the issue, the United States suspended its ANZUS security obligation to New Zealand in 1986.
An increase in human population can influence our economy. Some of the factors that are affected are unemployment, poverty and the restriction of economic expansion. When the population increases, the cost of health, education, and other areas of urban growth are affected. Unempl...
The ageing population is a phenomenon that most of developed nations struggle in recent decades. The purpose of this paper is to identify the meaning of the ageing population and analysis the impacts that it could have on society. Population ageing happens when the average age of an area growths due to increasing longevity and declining birth rates. Also, another factor that affect proportion of ageing population, especially in Australia, is baby booming. The phrase Baby boomers refers to people who born during the demographic post World War II between the years 1946 and 1964 and more than 4 million Australians were born during that 6 years. The percentage of Australia’s population aged over 65 years has increased 5 per cent from