ipl-logo

Explain How Has Globalisation Changed Over The Past 30 Years

1516 Words7 Pages

Trade Research Report- World Trade Relationships

Name: Ella Sauzier
Due Date: Monday 11th of June
Research Questions:
• What is globalisation? How has globalisation changed over the past 30 years, and what has led to these changes? (6 marks)
• Explain the difference between Imports and Exports. Where do imports and exports fit in the circular flow model? (Must include a circular flow model diagram) (5 marks)
• What was the value of Australia’s top 10 exports and imports for 2016-17? (2 marks)
• What are Australia’s top 10 exports and top 10 imports for 2016-17? Give reasons why Australia exports and imports these types of goods. (6 marks)
• Discuss the trade relationship Australia had with China. How has this relationship changed over the …show more content…

Imports and exports fall into the overseas sector of the circular flow model. The overseas sector is concerned with international trade between the countries around the globe. Imports refer to one country receiving goods that they do not have, in exchange for the other country receiving money for providing these goods. Exports refer to a country sending goods to another country in exchange for receiving money from the country receiving the goods. People often think that imports are injections and exports are leakages, however this is not true. Imports are leakages as when a country imports goods money is leaving their economy as they must pay to import the goods. As exports are injections, this is as when a country exports goods they are receiving money that will enter the economy. Leakages refer to money leaving a countries economy. On the contrary, injections refer to money entering a countries …show more content…

- Economics Help. (n.d.). Retrieved from https://www.economicshelp.org/blog/401/trade/what-caused-globalization
• Circular Flow Model and Economic Activity - ppt video online download. (2017, July 29). Retrieved from http://slideplayer.com/slide/9431899/
• Top Goods and Services. (2014, October 10). Retrieved from http://dfat.gov.au/trade/resources/trade-at-a-glance/Pages/top-goods-services.aspx
• Australia's relationship with China explained. (2012, November 14). Retrieved from https://www.youtube.com/watch?v=g0OmULL3EX4
• China-Australia bilateral trade grow considerably. (2017, March 22). Retrieved from https://www.youtube.com/watch?v=6PE9mG7o4O8
• China & Australia to sign free trade agreement. (2014, November 16). Retrieved from https://www.youtube.com/watch?v=CpNq5Qu3VUc
• Australia’s economic relationships with China – Parliament of Australia. (n.d.). Retrieved from https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/BriefingBook44p/China
• Brexit, Trump and the TPP mean Australia should pursue more bilateral trade agreements. (n.d.). Retrieved from

Show More
Related

Analysis Of Tom Brady's Glaceau Smart Water Ads

742 Words | 3 Pages

Retrieved from

Read More

Guns N Roses Research Paper

1322 Words | 6 Pages

Retrieved from

Read More

The Pros And Cons Of Clive Hamilton

937 Words | 4 Pages

But it’s time for the politicians to realise that Australia needs China equally as America or India or UK for its growth. Maintaining strong diplomatic and trade relations is essential with the emerging economies like Brazil, Russia, China, India and South

Read More

What Are The Pros And Cons Of The Electoral College

831 Words | 4 Pages

Retrieved from

Read More

Political Influence: Similarities Between Australia And The US

1417 Words | 6 Pages

In reference to a dramatic surge in terms of trade in recent years Australia definitely benefited from this with rising global commodity prices. Australia has a significant amount of exporter of natural resources, energy and food. Australia has an abundance of natural resources which attracts high levels of foreign investment which also includes coal, iron, copper, gold, natural gas, uranium, and renewable energy sources. There are series of major investments one of which is the US $40 billion Gorgon Liquid Natural Gas project. This country called the “down under” has an open market with very minimal restrictions on imports of goods and services.

Read More

Speech On D-Day Normandy

728 Words | 3 Pages

(n.d.). Retrieved from

Read More

Explain The Trends That Characterized The First Era Of Globalization

249 Words | 1 Pages

-Trends that characterized the First Era of Globalization include interludes of Vikings, Turkish, and Mongol peoples, integration of regional states, and inter-regional exchange of technology, crops, and diseases. From 1000 to 1500 C.E. rulership of societies changed from being controlled by large, central societies to being overrun by nomadic people like the Turkish and Mongols, but the political foundation that they laid helped to stimulate trade between regions and highly integrated them. They controlled the trade routes between societies. The government was mostly clan-based and one could attain a high office position based on merit and knowledge rather than kinship.

Read More

How Did Trade Affect China

458 Words | 2 Pages

Trade spreads products,technologies,knowledge and culture through many various ways like talking to other countries about new ideas and sharing new products. The ways in which China was affected varies through political, economic, and cultural developments. One cultural aspect from China was the trade routes gaining wealth by selling many goods. Some economic uses were, gunpowder which was really began during Tang dynasty for rockets as a weapon.

Read More

Trade Policies Between Canada And Australia

371 Words | 2 Pages

P.E.S.T ANALYSIS - POLITICAL FACTORS When it comes to trade policies between Canada and Australia, there are many different aspects to analyze. The percentage of merchandise imports in Australia is much larger than the number of merchandise exports. In 2014, imports from Canada was reported $2,154 (A$m) having a growth rate of 4.6%, and exports was $1,233 (A$m) in Australian currency, decreasing in 10.8%. The total amount of trade equalled to $3,388 (A$m) which included imports and exports, resulting in a decrease 1.6% in overall growth.

Read More

Most Misunderstood Indicators Of The US Economy

497 Words | 2 Pages

Balance of Trade Balance of trade is said to be a part of a lager economic unit, the balance of payments (the total sum of all economic transactions between one country and its trading partners) that includes capital movements, freight and insurance charges, loan repayment and other payments. The balance of trade is the difference in value over a period of time between a country’s exports and imports of goods and services. It is said that if a country exports exceed its imports there is a favorable balance of trade also known as trade surplus. Conversely if the imports exceed the exports there is an unfavorable balance of trade or a trade deficit.

Read More

Women Underrepresented Nonprofit Organizations

1147 Words | 5 Pages

Retrieved from

Read More

History Of Softball Essay

1136 Words | 5 Pages

Retrieved from

Read More

What Is The Impact Of Globalization On American Workers

413 Words | 2 Pages

Globalization and international trade are becoming more and more important to American workers and to our nation’s economy. International trade supports jobs, economic growth, and helps the United States compete in the global market. Today, nearly 40 million jobs in the United States depend on the import and export of goods and services. These jobs represent 21.9 percent of total employment, or more than one in five jobs (Baughman and Francois, 2014, p. 8). International trade has become a crucial part of our economy.

Read More

Full Employment Essay

904 Words | 4 Pages

The difference between exports (sales of goods to foreign residents) and imports (purchases of goods abroad) (total exports – total imports) • Y = income or outputs (what we are able to get from all of these components) (produce) • I would consider our Economy to not

Read More

Impact Of Globalisation In The 20th Century

1000 Words | 4 Pages

In the early 21st century, those living in the developed world encounter the effects of globalisation on a daily basis. On a most basic level, from the Internet to the food that is consumed, it is possible to instantly access a different part of the world. Globalisation has also affected lives in ways that are not instantly obvious – views, beliefs and attitudes shaped by globalisation have changed how the world is perceived. Globalisation is different in the 21st century to how it was in the 20th century, and though the most underlying difference is the rapid development of technology, there are subtle ways in which it has changed – and ways in which it has not changed at all.

Read More

More about Explain How Has Globalisation Changed Over The Past 30 Years

Related Topics

Open Document