Australia Globalization Analysis

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Introduction: Globalisation is the global integration of world economies and communications. It is the transfer of goods, thoughts and services at international level. It is bringing people together to achieve their common goals. Globalisation in the 20th century was limited due to cost and difficulty of travel and communication. However, in the 1980s, the world saw a rise in the degree of Globalisation. In the late 1990s, world witnessed an increase in transportation and telecommunication technologies and this led to an even more rapid increase in Globalisation. Developments in technology enabled cheaper and faster travel and also communication. Liberalization of economies occurred throughout the world after 1970s. Not only economic market…show more content…
Since the 1980s, the influence of globalisation has been intensified due to fast growing technology, relaxation of global financial system and Government policies of freer international trade (O’Connor et al. 2001 as cited in Forster, 2004, p. 36). There is economic restructuring in Australia since the 1970s and economic restructuring involves big job shedding (Forrest, 1995). Due to Globalization and economic restructuring, Australian cities also witnessed major changes in economic structure between 1991 and 2001 (Forster, 2004). 1). Unemployment in Australian cities between 1971 and 1991: In the 1950s and 60s, Australia had less than 2 percent unemployment. Unemployment rate was also less than 2 percent in 1971 while it passed 10 percent in 1982 and again in 1991 (Fagan & Webber, 1994 as cited in Forrest, 1995, p. 44). Australian cities witnessed major changes in economic structure between 1971 and 1991. City Unemployment as % of workforce Manufacturing as % of workforce Producer services as % of workforce 1971 1991 1971 1991 1971 1991 Sydney 0.3 18.7 61.9 24.6 17.6 26.3 Melbourne 0.2 13.2 67.0 30.9 8.8 12.7 Adelaide 0.3 15.1 58.4 29.2 6.0…show more content…
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