ideoGlobalisation: Globalisation is the economic unification of the world economic systems. It also involves the spread of business, trade and investment across international borders. It requires that all nations in the world become on economy instead of them being independent states. We have not yet reached a state of total Globalisation yet however over the past 200 years we have seen an increased trend towards Globalisation.
Globalisation has increased over the years because of many reasons number one being the increased technological advances over the years that have allowed transporting goods to become profitable and also governments have become more relaxed towards trade from other countries
There are many reasons for globalisation such as it will allow for cheaper goods in different countries for example china thanks to its large workforce can mass produce items faster and cheaper than Australia can thus boosting profits.
Thanks to globalisation Australians are able to by good quality goods at a faction of the old price, this has drastically lowered the inflation rate for example from 1990 through to 2006 inflation rates drooped a staggering 70%
Globalisation meant a rise in our GDP because of the competition introduced by overseas companies. Australian companies had to rise efficiency to stay in business it also meant that we could import newer machinery from overseas because of the cut in tariffs.
Thanks to globalisation incomes started rising by nearly 2.6% a year in comparison to the 1.4% before globalisation was introduced. Thanks to the increased average income of Australians this meant that tax revenues where also higher which meant better schooling systems and healthcare.
Globalisation in the long term has had very little negative effects on the labour markets it was only in the first few years of globalisation that we saw loss of jobs but these people all found new jobs that usually payed the same or even more at times. The only negative...