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Ever since Chinese ports were liberalised during China's Qing dynasty, giving Australia and China access to open trade, the re

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MAKE MULTIPLE COPIES OF THIS SHEET FOR USE WITH ALL ASSESSMENTS Assessment Cover Sheet College of Arts School of Humanities & Languages PLEASE PRINT Student No: 16174304 Student Name: Jaydeep Kathavate Phone No: Mobile: 0422798218 NB: Use official UWS student account only Email: .................@scholar.uws.edu.au Tutor's Name: Unit No: Unit Name: Australia & the World Tutorial: Day: Thursday Time: 4 - 5.30 pm Assessment Title: Australia & the world Number of Words: 1679 (including referencing & assignment cover sheet. 1355 without references) Number of Pages: 5 Date Due: 4/05/06 Date Submitted: 4/05/06 I hold a copy of this work and can provide a copy should it be damaged or lost. I affirm that the attached work is entirely my own except where the words or ideas of other writers are specifically acknowledged. This assessment has not been submitted for any other unit or course at any other institution. I have read and understood the University's Policy regarding plagiarism and collusion. I confirm that the work was submitted on the date indicated above. STUDENTS MUST USE THEIR UWS EMAIL ACCOUNT TO COMMUNICATE WITH UWS STAFF. Emails sent from other addresses will not be answered. ...read more.


This has come about due to the increasing transparency of China's business ethics and work environment6. The Economic and Commercial Section of the Consulate General of the People's Republic of China in Sydney reported in 2000 that Australia's investment in China had hit A$8 billion dollars; China's investment in Australia was estimated to be A$6 billion. Australia has directly benefited not only from foreign direct investment ,but also from China's accession to the World Trade Organization in 2002. This meant that Australia could foster the above mentioned agreements, due to China's liberalised markets - representing a further economic incentive for Australia's trading of goods. The economic benefits that Australia has derived from its agreements with China has not only aided middle-class Australia but also bolstered Australia's image in the world as a cogent industrialised power. Australia's strategic and diplomatic powers on internationally tentative grievances, have been strengthened ever since the seminal introduction of dialogue between China and Australia that was established by Gough Whitlam in 19727. Australia can fill the vacuum existing in international dialogue over issues such as North Korea's reneging of the nuclear non-proliferation treaty, Iran's nuclear expansionism, North-East Asian security, the stability in Taiwan strait, by its new formed trade and economic alliance with China. ...read more.


Chinese people stand for mayoral elections and more Australians and Chinese are forming cultural links11. A unique attribute to Asian migrants is that they have a higher savings rate and are frugal with their finances12 than their Western brethren. In the long-term this will help boost Australia's savings rate and help to reduce external economic deficits. Furthermore, it is estimated by a few studies that the number of Chinese visitors per year to Australia will exceed those of Japan. Studies like this show how we can draw natural inferences about the possibilities of growth in China and Australia. Both countries have become cultural and intellectual hubs and the ever expanding tourism sector is providing a great breeding ground for future ties. Australia is rich in resources, is committed to advancements in technology and profiting from a steadily growing economy. China on the other hand is culturally vibrant, holds a wealth of intellectual capital and is committed to developing its large markets. The exchange of goods and services, people, capital and culture make Australia and China consummate bedfellows. Who knew, back when the expeditionary fleets of China's Ming Dynasty13 reached the Australian shores that at a time in the future, Australia and China would be rubbing shoulders diplomatically, strategically and culturally. ...read more.

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