Friday, December 20, 2019

Free Trade Agreement Between China and Australia - 683 Words

Free Trade Agreement between Australia and China China, Australia’s second larges export destination, is a growing economy. The labours in china are really cheap, so a lot of companies set up new manufactures in China and close down manufactures in other countries. A Chinese is satisfied getting 800 yean month, three meals a day and a bed to sleep. There are also people, who are willing to work for even lower labours. So if Australia would have a FTA with china it could profit from the fast growth and development of China. China’s growing manufacturing industry needs large volumes of raw materials, which could be supplied by Australia. â€Å"Most Farmers and key agricultural exporters –wool, beef, dairy and grains- have set up their sights†¦show more content†¦The FTA will be a model of how to countries, so different in many respects, can share an economic future.†(the Age,April 20,2005 ) But there are also disadvantages. While Australia’s wool industry and other sections of Australia’s economy would profit from the FTA, there are also losers. The car, clothing and vegetable industry could be destroyed by the Chinese exports, because the Chinese producers can offer their products much cheaper. â€Å"But they don’t face the same quality assurance condition and have access to cheap labour.†(the Age,April 20, 2005) China could swamp Australia with below-cost imports. The Australian producers aren’t competitive, so they will loose market shares. Before the negotiations begin, Australia has to recognize China as a market economy. â€Å"But the prices for Chinese products appear to be set by authorities instead of markets†(the Age, December 6,2004) and the products are often dumped, so a recognition would undermine Australia’s anti-dumping powers. Chinas rules of law in commerce are still underdeveloped and the economy isnâ⠂¬â„¢t fully transparent. If Australia recognises china as a market economy the minister isn’t required to resort surrogacy, where unreliable or no pricing information is available. So there would be Legislative or administrative changes needed to undertake action against predatory priced products dumped on the Australian market. Besides China’s benefits of this deal will be grater than the Australian ones, because China isShow MoreRelatedImpact Of Globalization On The Global Economy1452 Words   |  6 Pagesexpand out exchanges and social trade. This results in a trade of different perspectives, knowledge, items and culture. Many goods and services have increased, because of worldwide trading throughout the past years. Australia is linked into the global economy due to exchanges being made between nations and technology being better than ever, as it is quicker, faster and easier to communicate with potential customers. These are just some of the reasons why Australi a is linked in to the global economyRead MoreNew Zealand s Export And Export Essay1576 Words   |  7 Pages1. Introduction The following document gives a brief report about New Zealand’s current import and export spend and relation to other countries, industrial sector, and products. Besides, it also explains about the trade agreements in which New Zealand is party to and agreements which are under negotiation and proposed. Moreover, an export product is chosen and what are the reasons that lead to choose that particular product. Furthermore, it gives a summary about the supporting organizations thatRead MoreGlobalization Has Changed The Economic Condition Of A Country Or The Lives Of People995 Words   |  4 Pagesconnection between person-to-person, local-to-local and nation-to-nation to preserve and develop trade, technology, education, and etc. There are a couple aspects of globalization to count on, but this essay will be focusing on one specific dimension of globalization. Mostly, this essay will examine economic aspect of globalization as well as it will conduct a research: how globalizati on has changed the economic condition of a country or the lives of people. Moreover, this article will discuss free tradeRead MoreFree Trade s Defence : The Ricardian Theory Of Trade1670 Words   |  7 PagesIn Free Trade’s defence. The Ricardian theory of trade states that â€Å"Trade is a positive-sum game and therefore there are no losers across or within countries† (dowling). On the contrary, Paul Krugman questions the necessity of free trade and the notion presented by this theory. Asserting that even though free trade agreements seem to provide a win-win outcome for countries, one country is guaranteed to benefit much more; establishing a winner and loser (Krugman free trade passe). These differentRead MoreJapanese Australia Economic Partnership Agreement1565 Words   |  7 Pages The Japanese-Australia Economic Partnership Agreement Japanese Assessment Task Submission Date – 29th of June 2016 Word Count – 1052 By Anastasia Nikitaras On the 8th of July 2014 the Prime Minister of Australia Tony Abbott and the Prime Minister of Japan Shinzo Abe signed the Japan-Australia Economic Partnership Agreement (JAEPA) (Japan-Australia Economic Partnership Agreement, 2016). This agreement has allowed for support in a two-way investment for both these countries. This agreementRead MoreAustralian Cattle s Assignment : Trade Patterns Of Australia1715 Words   |  7 PagesAustralian Cattle’s Assignment Trade patterns of Australia Trade pattern means a country’s trades of goods and services with other countries, in certain directions. Although Australia is not playing a big role on the stage of global economy, trade is crucial to the geographically isolated continent. The percentages of export and import product are equal which around 20 percent of domestic productions. The main export products in Australia are agricultural products and mineral, which take up aboutRead MoreA Report On An Australian Company Within Automotive Industry997 Words   |  4 Pagespositive step to move the factory overseas. The company s destination is going to be either China or India. Both countries are inclined towards greener strategies especially within the automotive industry as per deteriorating environment and pollution mostly within the cities and also globally. This report provides a recommendation which of these two countries is conducive for such a plan. Both countries, China and India cover the top places in area of foreign direct investments (FDI) and relocationRead MoreAustralia And The United States1293 Words   |  6 PagesAustralia and the United States have always had a very strong relationship through trade and mainly defence. The security of Australia heavily depends on the US, as we are there main allies in defence. Australia and the US are both apa rt of an organization called APEC. They both have very important roles as there are classified as the head nations. This organization first started in January 1989 in Australia when current prime minister Bob Hawke called for a more effective economic operation acrossRead MoreNt Cattle Exporters Gain Confidence From China1561 Words   |  7 PagesStudy A suitable alternative title for the case could be: NT cattle exporters gain confidence from China. A recent study (Department of foreign affair and trade, 2014, p.4.) shows that almost half of Australia’s exports came from minerals and fuels with 49.3% in 2013, especially iron and coal. Followed by service exports 17.3 percent and manufacturing exports 12.9 percent. In 2013, two-way trade grew by 3.7% to $647.4 billion. Comprising imports totaling $328.8 billion and exports $318.6 billionRead MoreAustralian Mango Exports777 Words   |  3 PagesThese strategies result in different marketing techniques such as those relating to labelling and advertising communication (case 2). Two elements essential to the trade process that affect the pricing for Australian mango exports are local supply and demand. Low domestic prices of mangoes deliver the catalyst for producers to trade a quantity of their premium product to export markets each season in an effort to reach profitability. In 2011 only 8% of Australia’s total mango production was exported

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.