Political Influence: Similarities Between Australia And The US

COMPARISON GROUP PROJECT

United States vs. Australia

Political Influence

In this day and age there’s so many similarities between the Australian and United States political systems. Even though there are similarities there are also some differences. Australia and the United States has a system of government that preserves the concept of indirect democracy. Australia and the American system both are based on principles of political equality, majority rule and the preservation of minority rights. In today’s world the oldest continuing democracy is the United States and the first to hold down the concept of popular sovereignty. Some of the similarities between Australia and the United States is the following:

Similarities between Australia

In the Australian economy there has been continuous growth and low employment, inflation, low public debt and a stable financial system. By the year of 2012, averaging approximately 3.5% a year there’s been a more than a 20 year of continuous economic growth within Australia. The manufacturing sector has been taken a beating from the high Australian dollar, meanwhile the largest part of the Australian economy is the services sector of accounting for about 70% of GDP and 75% of jobs. Australia has been comparatively unaffected by the global financial crisis as the banking system has remained strong and inflation is under control. 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. Australia has played an active role in the World Trade Organization (WTO), APEC, the G20, and other trade

The business firms in the United States has a greater flexibility than Australia and other Western European countries in making decisions to expand its capital plant, lay off surplus workers, and to develop new and improve products. But in the same breath, the United States has faced barriers to enter their rivals’ home markets than foreign firms face entering the United States markets. The firms in the United States are at or near its forefront in technological advances, especially in technology and healthcare, aerospace, equipment for the military in which to the United States advantage it has narrowed since the end of the World War II. Since the year 1975, in the United States all of the gains in the household income has gone to the top 20% of households. In 1996, the dividends and capital gains has grown faster than wages or another category of after-tax income. Between the years of 2001 and 2006 crude oil prices has doubled, the housing market has spiked, gasoline prices increased which heavily into consumers budgets which caused many to fell behind in their mortgages. Between the 2006 and 2008, oil prices have climbed another 50% and an increased in bank foreclosures in the same