Globalisation Essay Example | Topics and Well Written Essays - 1250 words - 1

Globalisation - Essay Example Cities in Australia such as Perth and Brisbane offer attractive investment opportunities to potential investors leading to the rise in capital growth rate. Australian cities like Melbourne, Adelaide, Bribane and Perth are also known for the low cost of living prevailing compared to other capital cities in the world. These Australian cities are ranked top 30 globally for the high life quality. Current exchange rates against other currencies are exceedingly friendly in Australia hence making it ideal for foreign investors who wish to make purchases in Australia. The explanation for this is that they have the capacity to buy more than what they would have bought in their own countries with the same amount. Low interest rates in its economy enable investors get big loans from banks, which thereafter yield significant returns that boost the country’s GDP. The Australian government put a lot of money into available growth opportunities hence making it possible for the countryâ€℠¢s economy to survive economic hard times (McLean 7). Question 2 Although Australia is ranked as one of the best-performed economies in the developed world, its citizens are pessimistic about their economy. Some of its citizens thinks that their economy over-rely on non-renewable natural resources for energy used both locally and for export,they claim that they may run at a loss when coal deposits are depleted from the mines. Other citizens do not enjoy the use of coal as a source of energy in their country, they claim that use of coal is one of the major contributors of global warming hence they ask the government to invest on other modes of energy production. Australian’s economy is dominated by small to medium sized enterprises. The entire country’s population thinks that these SME’s lack proper management teams compared to larger companies hence performing poorly in the economy. The citizens think that government should provide relevant training to the entre preneurs to improve their performance. Further still, many citizens perceive the strength of the country’s currency negatively. They believe that it blamable for increasing unemployment rates as many people have lost their jobs in leading companies like Toyota. This has exposed how fragile the manufacturing sector is. Country’s economists blame the Australian dollar for damaging the market at international level. This is because, of the increase of prices of Australian goods. As a consequence, the demand of country’s locally produced goods is decreasing with a notable rate (Martin 1). Citizens have also noted that its government has not put enough money on technology development hence importing more than exports on ICT. Government is also blamed for making its IT purchases outside the country, yet same equipments are available in local companies. Question 3 China’s economic growth and technological advancement have drawn investors’ and governmentâ €™s interest. As such, Australia should take the lead and welcome Chinese’s increasing foreign investment. Australia benefits from it both directly and indirectly. Given that Australia do not invest much on ICT, China gets to supply them with the ICT equipment since it is known as an of the ICT equipments exporter. If Australia accepts to trade with China government, it will get a chance to negotiate better prices on its ICT purchases hence reducing import costs. Australia also exports its