An Analysis of Economic Growth, Trade Relations, Culture, Religion, Education, Language, and Political & Legal Systems of Major Countries with Australia

Running head: MGT340
MGT340
Name of the student
Name of the university
Author Note

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Table of Contents
Part 1 –Growth and Trade............................................................................................................. 2
Table 1 - Growth........................................................................................................................ 2
Part 1 –Growth and Trade............................................................................................................. 4
Table 2 – Trade with Australia................................................................................................... 4
Part 2 – Culture -Religions............................................................................................................. 6
Part 3 – Political & Legal Systems................................................................................................ 10
References and Bibliography:......................................................................................................13

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Part 1 –Growth and Trade
Table 1 - Growth
Economic growth comparison between countries
Real GDP Growth
(%)
Average GDP per capita
(US$)
Average Current
Account Balance (US$b)
2016 2017 2016 2017 2016 2017
Australi
a
2.8 2.0 49896.5 53800 -370.3 -326.5
China 6.7 6.9 8115.8 8643.1 202.2 164.9
India 7.1 6.7 1749.2 1982.7 -15.3 -51.2
Japan 1.0 1.7 38982.9 38439.5 188.1 195.4
UK 1.8 1.7 40529.6 39734.6 -153.9 -106.7
USA 1.5 2.3 57558.9 59501.1 -451.7 -466.2
Table 1 represents economic conditions of six largest countries, which are, Australia,
China, India, Japan, U.K and U.S.A. Through using real GDP growth rate, average GDP per
capita (US$) and average current account (US$b), the table has intended to describe about
economic stability and financial performance of these countries. According to these data, India
has performed well in 2016 and 2017 along with China, as real GDP growth rate have remained
high for these two countries compare to others (dfat.gov.au). Hence, it can be said that these two
countries are expanding their economic structure and have earned potential to captures a large
share of international market. Secondly, average per capita income for India and China are
represented as low compare to other countries. Hence, it can be said that business organisations

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can hire labour at a lower wage rate. Except China and Japan, average current account balance
for other four countries is showing negative values. It implies that those countries have imported
more goods and services and have exported fewer products.