Advantage Of Globalization In Australia

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Globalization can be literally defined as the process of increasing the integration of economies around the world in terms of economic and financial. In general, globalization is reflected in trade, investment, technology, finance and labour. However, it has always been a contentious topic of whether nations are benefitting from globalization.
It can’t be argued with the benefits of globalization that brings to the world, it allows consumers to get much wider variety of products to choose from and much wider opportunities provided for the businessman and investors for investment.
Australia has benefited from globalization since in 1980 when it started to open trade. Australia’s export were grown three and a half times from 1980 to 2000. Australia could have earned more than 7 billion dollars per year with less protectionism, the policy that restricts businesses or workers to trade with foreign nations. By pursuing trade liberalization over years, Australia’s economy has become much more powerful and prosperous. More job opportunities were created and better wages for workers. As the fallen of tariffs, there was no need to pay any more money on export, which was become the key point to introduce its product to the world. Therefore the company like automotive industries take the advantage to maximize the output in which had …show more content…
However, it can be ignored that it causes the decrease of environmental integrity and abusing of cheap labour as it is equally important to understand the disadvantage of globalization. In my opinion, I strongly believe that globalization is good as it is the most effective way to develop a country in terms of economy, technology, relationship with other countries and the

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