Impact of Global Economy on Domestic Politics in Australia

Global Politics and
Development

Table of Content
HOW DOES THE GLOBAL ECONOMY IMPACT ON DOMESTIC POLITICS IN
AUSTRALIA?.................................................................................................................................3
REFERENCES................................................................................................................................7

INTRODUCTION
Global politics is a term which determines the interrelationship between different
political factors and components which affect all the major political decisions of different
countries in the world. Global politics and the world economy are the two consecutive factors
which and operates together affecting each other unique manner and ways. This is an essay
report which will be focusing upon answering a very simple question and looking over certain
aspects of global economy and its impact upon politics that is being conducted and taking place
in Australia relating to certain decisions and practices (He, (2019)).
HOW DOES THE GLOBAL ECONOMY IMPACT ON DOMESTIC POLITICS IN
AUSTRALIA?
Politics is denoted as an activity associated with the actions taken by the government of a
country or a respective region. The practices that are conducted and the policies that are
developed by the government of region aiming towards improving the status and power of the
country or the state or a particular region are known as political actions and influence of politics.
Australia is open economy exposed to trade nationally and internationally. This characteristic of
Australia of being exposed to International and national trade bring changes in present
economics and political processes of the region.
If any changes taking place in other countries in respect to demand and supply of goods
or services will be significantly impacting or imposing implications over economy of Australia
as well as brings changes in political processes as well as phenomena’s. In simple words for
example is in a particular global economy demand for Australian exports increases and if the
country is not able to match those demand through its supply it will automatically result in in
increasing the price of those exports for the consumers and country will be earning higher profits
as their products or services are demanded in huge amount through global economies (Alley,
(2018)).
Australia is a country situated in Oceania and bordered with the Indian Ocean and the
southern Pacific Ocean. The country is comprises of mainland Australia and the island of
Tasmania along with some small islands in the Indian and Pacific oceans. The country has a