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    Australia Must Diversify the Economy

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    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

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    Macroeconomic Country Study: Australia

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    Economic Background: In the past two decades, the Australian economy has been, and continues to be a very strong and steady economy because of steady GDP growth rates, with an average around 3.5% annually (Heritage.org). Australia has also benefitted from considerably low inflation and unemployment rates. Because of these macroeconomic values, Australia is ranked third in the ranking of regional economies (Heritage.org). The reasons for Australia’s ongoing success is mainly because of the boom in

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    emphasis on the state as a main actor. When considering this the realist would perhaps say that the Australia-China relationship is primarily derived from individual state actions as opposed to outside influence. China needed resources and Australia needed capital. It was Australia’s individual decision to begin trading relations with China and vice versa. It can also be noted, however, that Australia desires to take the relationship no further than a simple trading one as can be inferred from the

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    objectives: The 2014‑15 Budget is part of the Government’s Economic Action Approach to repair the budget and build a strong and prosperous economy within the next few years. The substantial savings decisions in this Budget put Australia back on track to a sustainable and responsible budget position. The Government economic objectives are to provide for Australia; full employment, economic growth, external stability and income equality. One key initiative for the Federal Budget of 2014/15 is the ‘Deficit

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    European countries. United States has NAFTA (North American Free Trade Association). This includes, United States, Canada and Mexico. However, Australia geographically is so far from any other continents, is it able to benefit from the globalization that other countries enjoy? It is easy to forget Australia is close to Asia, and at this point Australia has free trade agreement with Singapore, Malaysia, Thailand and several other countries. The world "Globalization" is relatively new in the collective

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    was justified. Australia is a capitalist society which private businesses, such as the car industry, aim to make a profit. However, the Australian car industry has endured a combined loss of AUD$1.5billion over a decade (Dowling, 2014, p1). Adam Smith (referred to as ‘the Father of Capitalism) developed a theory of the ‘invisible hands’ of supply and demand which states that the government does not need to interfere in the market as the invisible hands will regulate the economy (Heywood, 2012,

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    Is immigration good or bad? Immigration is very beneficial to the Australian economy in many ways. Although immigration has its advantages, it also has disadvantages. Immigration is good for our economy because of the Cultural Diversity and the trading Links, they also bring special traits that employers look for in a quality worker, and Immigrants increase Australia’s population and this means more goods and services are produced to suit the growing population. Immigration can also Increase our

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    Intrudactoun It hes biin ergaid thet eftir Wurld Wer 1, Aastreloe geonid muri then ot lust. Evin thuagh thiri wiri meny lovis lust darong thi wer, thisi lussis dodn’t huld Aastreloe beck es e cuantry. Aastreloe wes furtaneti inuagh tu cumi uat uf thi wer woth muri then thiy pat ontu thi wer. Sumi uf thisi geons eri - Thiri icunumy buumid, thi riletounshop bitwiin Aastreloe end Broteon wes strungir, thi wumin riplecid thi min's jubs, meny ommogrents wiri incuaregid tu mogreti tu Aastreloe. Althuagh

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    The Australian automotive industry has been important to Australia’s economy for numerous decades. Unfortunately, due to factors regarding the cost of manufacturing in Australia, including the higher wages and benefits of Australian workers, the 3 main manufacturers, Holden, Ford and Toyota, have all announced they will be moving their manufacturing overseas. This move comes on the back of a motion put forward to the government to continue providing financial assistance to prevent them doing so.

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    FDI can be described as ‘investment undertaken by an entity resident in one economy in an enterprise resident in one more economy alongside the goals of obtaining or upholding a permanent attention in the enterprise and employing a momentous degree of impact in its management’. An fairness stake of 10 each cent or extra is usually understood as the threshold for external investment to be categorized as ‘direct’ as challenged to ‘portfolio’ investment, even though a statutory 15 each cent threshold

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