• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

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

Extracts from this document...

Introduction

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.

Middle

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.

Conclusion

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.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level UK, European & Global Economics section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level UK, European & Global Economics essays

  1. Marked by a teacher

    ESSAY: Fair trade or free trade?

    5 star(s)

    However, the article about Tesco investment in Thailand (Financial times, London sep 24, 2002) emphasize that they are erasing the local competition. Tesco have the knowledge and the capital, they are offering such a big building, cleaned and spacious place that the local competitors have a lack of capital to compete.

  2. Comprehensive Anatomy of China

    The regions are defined by each one's unique terrain and climate, which in turn has an effect on the commerce and businesses that can be supported. The Northeast, for example, has forested mountains that are surrounded by extensive plains of lush land.

  1. Where does the World Trade Organisation fit in the overall scheme of international public ...

    laisser faire; its result is individuals in the broad mass of society, rather than the select few, with progressively better life-chances, i.e. with the ability to lead more varied and interesting lives. Free trade (broadly defined) expands life-chances by bringing about widespread and peaceful commercial contact among nations and breeding a worldly cosmopolitanism.

  2. Carbon Credit Trading

    Heinz reassures the public that they are wholeheartedly involved in reducing carbon emissions as they are simultaneously "victims" of carbon emissions - increased levels of greenhouse gases, and thus global warming, will have an unpredictable affect on crop production and supply of Heinz's products.

  1. North American Free Trade Agreement (NAFTA)

    as foreign investors neglectfully pollute their environments, challenge their judicial systems, and destroy public policy. Part 2: Chapter 11 and Controversial Articles Chapter eleven of NAFTA grants a set of liberalization and protection rights to foreign investors and obligations that the government has in order to facilitate these rights.

  2. Why has GDP growth been so slow in Somalia?

    and fought small wars with one another. Approximately 14 national reconciliation conferences were convened over the succeeding decade. Efforts at mediation of the Somali internal dispute were also undertaken by many regional states. The Somali economy was hit hard by war. By the end of the typical war the economy is about 15% poorer than it would

  1. Critically evaluate Brazil's International Trade Policy in terms of key trade issues and primary ...

    The main suppliers to Brazil are, in decreasing importance, the EU, the United States, and Argentina (Country Commercial Guide, 2001). The table 2 in appendix shows the Brazil's import and export trade data in 1999 and 2000. * The USA is still the largest single overseas market today, taking 23% of Brazil's exports.

  2. Will trading fairly reduce world poverty?

    The historical events of colonisation are one that stretches around the globe and across time. From the sixteenth century and onwards, the leaders of the western countries of Europe believed it was their right to try to conquer and rule the other parts of the world and form empires.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work