International business Essay Example | Topics and Well Written Essays - 3250 words

International backup - Essay Exampleglobalization on the other hand is also associated with different businesses and financial risks. globalisation in context to Western Australia is no different from the rest of the world. It can have varied effects on different economies in the world. Various forces like investors, borrowers, financial institutions, etc. are affecting change magnitude levels of financial globalization (Schmukler, Zoido, & Halac, n.d., p.1). Globalization describes the spread and interconnectivities of new advanced technologies, communication systems and production all all over the world (Smith, & Doyle, 2002). Various benefits to citizens of a country as a result of globalization includes admittance to change magnitude varieties of products and services at lower costs, increased number of job opportunities, higher standard of living, etc (International Monetary Fund, February 2008). Globalization and its impact on Western Australia in terms of job opportunity , economic reaping, concerns and factor will be discussed in an illustrated manner to have an overview as how Western Australia has dealt with globalization and its effects. ... The political factors represent the current political stability of a country. It includes the factors such as political changes, tax policies, changes in the restriction of trades, tariffs and the stability of the government. In the context to West Australia the government is very much stable. The government follows federal system. The tax policies as wellhead as the tariff structures are well structured. Western Australia in over 50 year has shown congeneric growth in terms of output and employment. The share of employment and output of share crossed the 30% mark in recent times (Graph 1). Population has played a major role in the growth of output in various industries in Western Australia (Graph 2). Immigration is the reason behind tribe growth which has vastly contributed to the industrial growth in t his part of Australia (Collony, & Lewis, 2010). Graph 1 (Source Collony, & Lewis, 2010) Graph 2 (Source Collony, & Lewis, 2010) The trade policies of Western Australia and more specifically Australia have been to condense on international markets. Western Australia initiated the exigency for globalization for its domestic industries as well as import of products from low-wage countries was in the agenda of the government. The main focus in context to structural reform is related to the building of competitive market for the private firmament industry in domestic as well as global market. Globalization had a cracking impact on Australias trade which includes Western Australia as well. The globalization has made considerable growth in industries like manufacturing and service industry while rural sector has been affected (Graph 3). Graph 3 (Source RBA, May 2012 a) The financial climate Globalization has established many new components into the financial market of