Critical Review Essay

This critical review will summarised the economic agreement signed by Australia with Japan, Korea and China. It will discuss a way in which these countries would benefit from each other through economic partnership in both domestic and international level in which businesses would export and imports without huge stamp duty or tariff. The review will narrate how macroeconomics and microeconomic help in Australian economic growth and her economic partners in the region. Several writers have talked about how macroeconomic and microeconomic help Australia to understand it’s economic growth from individual spending to the national level. This article review will also discuss economic theories and general understanding in this article about macroeconomic

Australia has signed another trade deal with Korea and China and it will be implemented in mid-2015 when all legal avenues are all explored for both countries. This economic deal will make Australia exporters competitive in North Asia and the entire region and attract many investors. Australian businesses will face several challenges in both countries in term of language barriers, existing competitors, legal, environmental factors and cultures. However, Austrade office in Japan will maintain relationship between two countries in order to expand business operation and share information with decision

The writer stated that, $70.8 billion dollars was added into Australian economic in 2013, as a result of economic agreement. Macroeconomic in this review is a study of the broader economy relations between countries and the general economic growth. The writer has also talked about microeconomic on individual household, firm and unemployment. In this paper, Australian trade agreement with Japan and other countries, will boost economic growth, preferential consideration. Australian business would face factors such as environment policies, legal issues, culture, language barriers and how to maintain the economic partnership between both