How Does Globalization Affect Australia

For instance, Sainsbury’s may result to shutting down without protectionism as when there is cheaper import, customers may not want to purchase to products offered by Sainsbury’s therefore it will lead to employees of Sainsbury’s unneeded and shutting down their

The phrase of globalisation is becoming very popular around the world, and it gives free movement to communicate with people regarding cultural, economic, social, technological, political, educational and businesses. In the modern society globalisation has impacted on many human lives, which started in the western countries in (1492), according to Kevin H. O'Rourke, Jeffrey G. Williamson, and then it expanded all over the world. The word of globalisation can describe many different aspects such as globalisation of nothing, the making of the global society and the globalisation of wealthy and poor. According to Robert Shuey in (2001), ‘’globalisation is widely and somewhat loosely used a term, intended to describe the recent and rapid process of international, economic, social, and political integration’’. The idea of his words that globalisation is giving an opportunity to people, so they can travel, invest internationally, and communicate this can help many businesses people especially in Australia to invest more widely and internationally. Globalisation has impacted on Australian society in all terms of life, for instance, it has an enormous impact on health and education system, on technology, and on the Australian economy. But one of the categories is increasing so widely among Australian people who affect many young people’s lives is the impact of racism on the health and wellbeing of young Australians. The word racism is the very phenomenon aspect in the Australian society, especially between young people. On the very high percentage of many young Australians are experiencing racism between the nation, most of these racists are because of skin colour, cultural beliefs, different traditions from different countries, speaking another language and gender. Racism plays a significant role in the society, and many people are aware of this because when they face radical discrimination from any individual, they feel angry and frustrated, and sometimes they feel of not belonging to the local community.

The Australian Government participated in the reduction of trade barriers as part of the General Agreement on Tariffs & Trade (GATT). As a result there have been pressures on the above mentioned industries that were previously protected. They have effectively become, or are becoming, casualties of what is termed ‘a race to the bottom’ between national governments as they attempt to attract investment by undercutting competition.[vi] The industries without protection are inefficient and thus profit is affected forcing firms to shift elsewhere or outsource in search of improving efficiencies.

Globalisation is the growth and integration between the economies in different countries for movement of goods and services. Globalisation

Today topic is to discuss the processes of globalization and economic restructuring in Australia since the 1970s and show how they are impacting its cities and regions, but before we talk about how the process of globalization and economic impact the cities and regions, it is important to define the term of globalization. Globalization is the worldwide movement toward economic, industries, markets, cultures exchange, policy, communications, trade and financial integration. (http://www.businessdictionary.com/definition/globalization.html) it describes a process by which national and regional economies, societies, and cultures have become integrated through the global network of trade, communication, immigration and transportation, as a result,

Various negative outcomes can be attributed to this intensification of Global Apartheid and international disparities. These include, but are not limited to:

Globalization is the integration of the worldwide economy in which resources and products move freely across the globe. Globalization has been present for decades however it has predominantly become a more frequent process and has potential good and bad effects on the world of business. Problems can include competition in manufacturing jobs and unemployment in industrialized countries. However, this can also be beneficial in other situations as globalization gives you a larger market trade will be cheaper so more countries can import and export goods which can bring in profits to multi-national corporations.

Protectionism by way of the price mechanisms such as tariffs, subsides, quotas, export licences and import duties (Rugman, 2009) are just some of the measures which can seriously impact on a foreign company. For example the American steel industry was afforded protection under the Bush administration when large tariffs were imposed on foreign steel imports in order to safeguard the jobs of the national steel workers (Mankiw and Taylor, 2008).

Globalisation can be defined as the movement toward economic, financial, trade, and communications integration by countries and their populations globally. It is a constant process and it has resulted in the intertwining and generalisation of the needs and wants of people

Globalization is taking place across the world where people can either become globalization or stay local in the state or country. People are very controversial about globalization helping local economies and local businesses. Some people believe globalization is helping local businesses into the markets and then there are some that believe that multinational corporations hurting the local small businesses. What is globalization? “the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets” (). Globalization has started long before we were born.

Globalization became a worldwide phenomenon with the growth of market economy and information technology. With globalization, the operators of companies and enterprises could use resources, management, expertise, information and labour of the entire world to manufacture the goods in the most appropriate areas, and then sell the produce to the areas which require them, to accomplish the most favourable distribution of resources in the world. This caused enterprises and countries to break out the boundaries of the local resources and markets, starting a competition with others in a broader sense to accomplish development. Globalization brings states and regions together by reducing the distances between each other and increasing the degree

When countries import goods or services from other counties that are still produce in their local industries, it reduces sales of that particular product or services and profit margin of the local industry. For example the prices of made in china product affects the turnover of most locally produced products in Nigeria.

According to those definitions, globalisation seems to be a process that creates an international market for goods and services, that creates a rise of standardised norms and social behaviour, that facilitated centralisation of international politics through supranational entities such as the United Nations, the World Bank or the World Trade organisation.

Globalisation is a broad term that is often defined in economic factors alone. The Dictionary at merriam-webster.com describes globalisation as “the process of enabling financial markets to operate internationally, largely as a result of deregulation and improved communication.” Also due to deregulation on the financial market, multi-national companies are free to trade and move their businesses to areas where a higher return or profit can be achieved. New technology also enables companies to relocate to areas where labour costs are lower, for instance movement of call centre jobs from the UK to India.

Globalisation refers to the process of interaction and integration among the people, companies as well as governments of countries around the world, particularly in terms of trade, investment and technology. The process of globalisation, has profound impacts on the environment, culture, political systems, economic developments, prosperity and human physical well-being in the societies around the world.