TRADE RESEARCH TASK
Globalisation
Globalisation is when a business (or other organisation) begin to gain an international base, or start operating internationally. Globalisation has increased greatly over the past 30 years. A main cause of this is the internet. The internet allows companies to easily and openly advertise their goods and services to a majority of places around the world. That paired with the ability to ship products around the world at a low cost has played a large part in increasing globalisation.
Imports and Exports
Imports are goods or services that are brought into the country from other areas, whereas exports are goods or services that are taken from a country and sold out into different places around the world. In a
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Australia’s top 10 exports of 2016 were Iron ores and concentrates, Coal, Education-related travel services, Gold, Natural gas, Personal travel services, Beef, Aluminium ores & conc , Wheat and Professional services (in that order).
A reason for these to be Australia’s top imports / exports is because much of the time Australia how goods or services that are wanted or needed more in another country, and vice versa.
Australia and China
Australia and China have a strong trade relationship. One of the reasons China is one of Australia’s top trade partners is because China’s manufacturing costs are very low, which allows Australia to be able to sell it’s goods to China in order to make them. Australia then buys back the products in order to sell them. Over the past 20 years, the relationship between Australia and China has had its vicissitudes. Two of the main reasons that the relationships between these countries has been of concern recently are the arrest of Chinese – Australian citizens in China and Beijing establishing an Air Defence Zone in East China