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How Globalization Is Affecting Australia's Economy

2066 words - 9 pages

The world is getting smaller. It is a phrase that everyone uses and hears frequently nowadays. There is some truth to it. Even though the world is not physically getting smaller, the way we do business and the influences on each countries' cultures, are getting more and more significant daily. Countries are developing trade and financial alliances. For example, Europe has the European Union, which has a tremendous impact on the trade within the European countries. United States has NAFTA (North American Free Trade Association). This includes, United States, Canada and Mexico. However, Australia geographically is so far from any other continents, is it able to benefit from the globalization that other countries enjoy? It is easy to forget Australia is close to Asia, and at this point Australia has free trade agreement with Singapore, Malaysia, Thailand and several other countries.
The world "Globalization" is relatively new in the collective vocabulary. This expression appeared at the turn of Sixties and Seventies. The key feature of this process is the interconnectedness of the world. Today, trade, financial activity, cultural effect extends to the entire planet. The geographical location, definitely, puts a significant influence on strengthening relationships between countries, and developing interdependence relationships between participants.
Of course, when we talk about globalization, we do not mean the effect American movies, music, which significantly altered the culture everywhere in the world. Globalization includes the corporations from around the world investing, opening up businesses, expanding into new markets. Certain corporations are everywhere, for example Coca-Cola, Starbucks, McDonald's. Probably, there isn't any area of the populated world where these corporations have not opened up a business yet. Consequently, we are all used to using many international products regularly. Australia is not any exception. To put a number to globalization in Australia, McDonald's opened up its first restaurant in 1971 in Sydney. According to McDonald's statistics, they have 900 restaurants across Australia and employ 90,000 people. Often, McDonald's is used as an example for pro and against globalization. The supporters argue, that any part of the world the quality and taste is the same. Anyone can enter any McDonald's restaurant, and taste will be exactly the same as it would be in United States. While the opponents claim, the local identity is getting lost, local restaurants have to close their doors. Some market researches indicate that the foreign restaurants chains are changing the Australian food values. Even though. the supporters also argue, these international companies provide jobs for Australian workers, pay taxes for the Australian government, the opposition presses the loss of the Australian national identity and national symbols. Everyone knows the symbol of McDonald's, Coca Cola, but not every person will recognize...

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