Details emerging today show that the agreement could free up more than 90 per cent of Australian exports from tariffs over the next four years. The oppurtunity to get unfettered access to China’s $10 trillion economy which is growing 7.7 per cent a year and poised to become the biggest in the world, could lift Australias economic prospects to the next level. Getting rid of tariffs will make it cheaper for companies to import and export goods, helping to improve efficiency for customers on both sides of the deal, some of the agreements include: * Australia’s $385 million lamb and goat trade with china will see the total phase-out of tariffs within eight
The income of the top 25 per cent of Australians increased more rapidly than for the remaining 75 per cent. But it was for those at the top that the income growth was strongest. For example, after taking out the effect of inflation, the after-tax incomes of those in the top 5 per cent increased by $172 a week between 1990 and 2000. The incomes of middle and poor Australians increased by just less than $40 a week during this period. Wealth in Australia: Wealth is very unequally shared in Australia.
3. Considering the economic systems of your chosen countries, which country do you think would be the most open to trade with the United States and why? Japan would be the most open to trade with the U.S because Japan’s economic freedom score is 72.8 making its economy the 22nd freest in the 2010 index. its score is 1.2 pts lower than last year, with a particularly significant decline in the control of government spending. Japan is ranked 7th out of 41 countries in the Asia-Pacific region.
In the past two months Nissan and Hyundai have beat Holden for the first time in 65 years. Holden gets the most funding then any other car company by over $180 million because it is the company to sell the most cars and make the most profit even though it doesn’t make as many cars .If Holden doesn’t start selling more cars like they used to then the government will have to cut off some of their funding which then will make it impossible for Holden to make cars in our country which then will make Holden go out of business. The daily telegraph, 2nd April 2013, Subway shop staff underpaid for five years. Four stores in NSW have been fined for underpaying vulnerable young staff for five years. There were 11 staff all aged from 15 to 21, with all the 11 staff they have to come up with $52,344 back pay.
The Influence of China’s demand for Australia’s resources on our Economy Globalisation has been occurring rapidly in the recent decades throughout the world which has resulted in the free movement of people, the advancement in technology and an increase in global trade. This has allowed countries around the world to integrate and influence foreign economies more dramatically. Trading can even go back to the times of World War 2 to the times of 2000 when Australia’s globalisation was increasing trade with Asia like China. China is a small country who has a population over just over 1.3 Billion, there economic growth rate stands at 9.6% [1] and as a result they have a reasonably high inflation rate of 6.2%. [2] The influence of China’s
Describe how Australia’s labour market conditions have changed Part 1. Statistics * In July 2011, the unemployment rate steadied at just fewer than 5% which is seen as an ideal number. * Total job vacancies overall in May 2011 were 186,000, * The number of job vacancies in the private sector was 167,800 in May 2011 * The number of job vacancies in the public sector was 18,200 by May 2011 * July 2011 saw the participation rate at 66% * Employment increased to 11,450,500 in July 2011 * This is a slight rise from June 2011 Part 2: Essay The labour market is one of the most important sectors of an economy. It has a direct impact on our lives because at some stage we will participate in it. Governments
INTRODUCTION Menzies had led a strong Liberal-Country party coalition to succeed in the general election on December 1949, and therefore becoming prime minister. During the period of 1949-1966, Sir Robert Gordon Menzies was the 12th longest serving prime minister and the 17th prime minister in Australia during his term as prime minister, Australia underwent notable economical advance. As the catastrophic days of World War II came to an end, the European and Asian population had a feat of expansion of communism. Menzies helped to improve the economy by building more factories which got people more jobs, he put high tariff to protect farmers. However, Menzies wasn't on the favoured side he made decisions that many people opposed from like the sale of pig iron.
Overweight and obesity in Australia has risen at an alarming rate over the last 20 years as in other industrialized countries around the world, yet the policy response, locally and globally, has been limited. The paper assess the economic cost of obesity in Australia and provide findings that explains the direct and indirect cost associated with obesity; why is obesity becoming a growing concern; and how intervention programs aims to address obesity. Furthermore, statistical evidence provided claims the rising cost of obesity that are significant to health risk affect both economical and social levels. The objective of this paper examines the persuasive text about the economic cost of obesity in Australia and provides commentary explanation
By 2015–16 the annual aid figure is estimated to reach around $8–9 billion (0.5 per cent of Gross National Income). Where we give aid Australia's aid program focuses on the Asia Pacific region. We are internationally recognised for our leading role in the region, particularly in PNG and the Pacific. Our aid is even more important given two-thirds of the world’s poor—some 800 million people—live in the Asia Pacific, yet they receive less than one third of global aid. Australia also provides assistance to Africa, the Middle East, Latin America and the Caribbean.
Somewhat predictably, a lot of fuss has been made about the increase in asylum applications received by Australia. While numbers of asylum seekers globally have remained steady, Australia has seen a 30 per cent increase. A crude reading of this statistic may seem to support the “pull factor” argument, namely that Australian domestic legislation, not international situations, is to blame for seemingly large increases in the number of asylum applications. But statistics, and percentages in particular, can be misleading. Australia receives so few applications for asylum that a 30 per cent increase means only 1400 additional people sought asylum here last year, as compared to 2008.