An Analysis of the Effects of Globalisation on Canada and Australia

This essay examines the multifaceted effects of globalization on Canada and Australia, focusing on their domestic and foreign policies. It explores how advancements in technology and transportation have facilitated increased cross-border trade and economic interdependence. The essay delves into the impact of globalization on Canada's security environment, trade agreements, and environmental diplomacy, highlighting the country's adaptation to new global dynamics. Similarly, it analyzes Australia's high-trading economy, deregulation of financial systems, and domestic policies focused on skills retraining and labor market programs. The essay also discusses the influence of globalization on foreign investment, trade barriers, and immigration in both countries, concluding with an overview of the challenges and opportunities presented by globalization.

Running head: EFFECT OF GLOBALISATION ON CANADA AND AUSTRALIA
Effect of Globalisation on Canada and Australia
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Introduction
Globalization helps in describing growing interdependence of the economies,
cultures along with the populations of the world which are brought about owing to the
cross-border trade taking place in between the countries. The improvements brought
about in the realm of technology along with the transportation have helped in
facilitating globalisation in the present age (Hopper, Lassou & Soobaroyen, 2017).
The rapid growth of the population have increased the demand of the goods and the
services in the present age that have helped in facilitating the aspect of the
globalisation. Globalisation have an impact on the international law along with the
cross national policies. The national governments have been responsible for the
maintenance of the security along with the economic welfare of the citizens. The
ecological changes are taking place at the global level and this have necessitated
the political activity in the various countries of the world. Globalisation is driven by
the international trade along with the investment and it have effect on the political
systems in a country. This essay throws light on the effect of the globalization on the
domestic and the foreign policies of Australia and the Canada.
Discussion
The advances taking place in the information technologies along with the
production process have helped in making new goods and the services tradable in
the present age. The domestic firms present in Canada can increase the production
efficiency with the help of the new developments taking place in the present age.
Globalization have changed the security environment of Canada in the present age.
The rising and the falling of Soviet Union along with growth of the China have
changed the distribution of the global power (Asongu & De Moor, 2017). The

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changes pertaining to international distribution of the power have caused the
Canadian policymakers in revisiting approach to global south. Government of the
Pierre Trudeau have re-imagined the global geography and it have made the way for
south on the mental maps and he have promised the engagement. The country have
prioritized the aspect of the trade along with the national unity and it have favoured
the element of the evolution in relation to the domestic policies (Bayne, 2019). The
environmental diplomacy of Canada was constrained owing to proximity to United
States along with the priorities. It have on the other hand been found that Canada
along with the political leaders have become aware of the environmental threats. It
have paved the way for the creation of the Canadian multilateral leadership and it
have allowed Canada in continue the contributions in the world.
The Canadian firms have recognized new global dynamic and it have adapted
the response in relation to the new situation prevailing in the modern age. There
exist some firms that have become multinational and they have detached labour-
intensive activities in relation to the operations. The business have relocated to
various other countries in which the labour cost is more competitive. It have been
found that China along with the south-east Asia are the primary destinations
pertaining to the production work within the framework of manufacturing sector
(Nevitte, 2017). India on the other hand have been the main destination in relation to
service-oriented sectors. There exist a large number of the Canadian firms that want
to compete by becoming the parts of the value chains of the other firms. The free
trade agreement on between Canada and US came into existence in the year 1989
and it have made Canada embark on the ambitious path of the globalization
(Fischer, 2018). They have become open to the aspect of the trade that have been
built on positive experience of Auto Pact. It have brought about a transition in

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economic context of Canada and the economy of the country have become more
integrated in the present age.
Australia have been able to benefit greatly with the help of the internationalist
orientation across the economic and the financial dimensions. The country have
taken recourse to the right kind of the domestic policies that have aided the country
in benefitting from the open economy. Australia is a high trading economy that have
capitalised on the natural endowments and it have embraced the opportunities which
have been presented by the trade growth. The country have deregulated financial
system and it have reframed the macro-economic policy so that it can help in
opening up the labour market (Huijgh & Byrne, 2019). Agility of the economy have
been brought about to a significant extent with the help of the reforms in the financial
along with the product markets. The vocational along with the higher education
pathways have helped the Australians in developing the skills that have helped the
people in finding the jobs and the opportunity within the framework of the changing
workplaces. The domestic policy of Australia lays emphasis on the aspect of the
skills retraining along with the labour market programs that have aided the
communities in Australia in adapting itself to the process of the change (Hanada,
2018). The interests of Australia are served with the help of global efforts and it
have helped in encouraging the sustainable development within the framework of the
country and it have reduced the poverty in the country (Fernandes, 2019). Australia
have adopted the approach of supporting the open trade along with the investment
on the basis of the market principles.
The experience of Australia with globalisation have fitted the general pattern
and it have brought about closer international integration of the countries of the
world. It have been successful in improving the economic performance of Australia

4EFFECT OF GLOBALISATION ON CANADA AND AUSTRALIA
and it have brought about the rapid economic changes in the country. The
international trade of Australia as the share of the GDP have been found to be
lowest within the framework of the OECD countries. The country have been
integrated in the global capital markets and the foreign investment of the country is
dominated by the portfolio flows which is at expense of the direct investment.
Australia maintains restrictive regulatory regime in relation to the aspect of the
foreign direct investment (Day, 2019). The country have removed the trade
distorting subsidies which is in line with that of the recommendations of the
Productivity Commission. The taxes pertaining to the international trade have risen in
the present age as the share of the government revenue have increased in the
recent years (Bell, 2019). The tariff barriers of Australia were reduced in the era of
the 1990 and the tariff rate of Australia in the year 2016 was 2.5 % when compared
to the 19 % in the year 1991. The policy makers in Australia have increased the
openness along with the international connectedness in relation to the foreign
policies of Australia. The immigration in Australia have given the rise to the anti-
globalisation sentiment within the framework of the country.
Conclusion
Domestic firms which are present in Canada have increased production
efficiency by taking recourse to new developments taking place in recent age.
Globalisation have been instrumental in changing security environment of the
Canada and the different business have moved to other countries which have made
labour cost more competitive. Australia possess high trading economy which have
made the capitalisation on aspect of natural endowment. It have taken the
advantage of opportunities which are presented by trade growth. Domestic policy
within Australia puts stress on skills retraining which have enabled the communities

5EFFECT OF GLOBALISATION ON CANADA AND AUSTRALIA
of Australia in adjusting to process of change. The country operates within the
framework of global capital markets and foreign investment of Australia have been
dominated by portfolio flows. Immigration taking place within Australia have provided
the impetus for anti-globalisation sentiment in the country.

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