International Economics
'The patterns and affects of world trade and investment in Austaralia'Australia has always been very successful when it comes to their international relationships. This success has had follow on effects for the Australian economy in many sectors, especially those involving the levels of world trade and investment. Australia has now moved away from the conventional distinction between world trade and investment and since doing this they have become a competitive presence on the world market. Australian companies are like any other foreign companies, they trade to invest and invest to trade. While the world has evolved into and developed over the past 10 years an extensive and invariable body of common rules to govern international trade, overseas investment remains subject to a variety of rules contained in hundreds of investment treaties, other commercial arrangements and a few world trade organisation (WTO ) agreements. These have a significant bearing on the level of world trade and investment Australia receives, and in doing this they also have relative affects on the Australian economy.Leading up to the 1980's Australia had had a dramatic deterioration in its trade performance in relation to
By increasing the amount of investment in Australia, Australian companies are able to create more revenue. They also facilitate major projects and provide a wide range of services to companies seeking to establish or invest in operations in Australia. In the year ending 1999 Australia's merchandise exports were valued at $86 billion. Austrade helps corporations throughout the world do business with Australia, this intern creates more exports for Australian companies. Australia had relied for many years on the protection of its industrial industry against their more efficient foreign competition. The above diagram shows the trading partners of Australia. In 1998 foreign investment had reached $571 billion, of which $253 billion came from APEC, that's 44% of total investment. This has follow on effects in the economy. In fact, the ramifications can be even more stark. During the same year services were valued at $26 billion.
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