Indonesia has one of the fastest growing economies’ in the world. Concerns grow over how this will affect the region as predictions estimate it will be larger than Australia’s by 2030 and in the top four by 2040. With the Global Financial Crisis still fresh in people’s minds, an evaluation must be given to the validity of this prediction by examining Indonesia’s recent economic movements. The growth prediction currently serves as an important fact for neighboring countries to plan and develop their long-term bilateral economic and security policies. As the Indonesian economy expands, resulting security implications will negatively and positively affect Australia. The increasing threat of terrorism and transnational crimes is of concern to …show more content…
Therefore, economic and political with surrounding states must be preserved to ensure their economic security. The decline in mineral exports to China, a major export, has put considerable strain on the Australian economy still recovering from the effects of the property bubble and subsequent financial crisis. With the Chinese economy slowing down, Australia, is actively seeking alternative economic agreements to fill the rising gap. Recently, the Australian Government repealed the ban on selling uranium to India and has come to an agreement on exportation to India. This move reflects Australia’s plans to focuses on India rather than Indonesia to for long-term economic security. The move towards India poses the question of what benefits that would be gained with cultivating closer ties to the Indonesian …show more content…
This agreement seeks to reduce trade tariffs, increase cooperation and investment between Australia and Indonesia. When juxtaposed to economic agreements already established with New Zealand, China and India, there is justification in the argument that Australia does not consider Indonesia an important financial ally. Despite ongoing negotiation there has still been controversy between Australia and Indonesia, particularly, over live cattle exportation. There has been considerable interest in promoting trust and building on economic relations between Australia and Indonesia. In a visit to Jakarta in 2013, Prime Minister Tony Abbott expanded on the importance economic relations are between Australian and Indonesia and moving past the negative effects of the previous ban on live cattle exports. Despite this reassurance, this trust was recently tested. In September of this year the “Joint Understanding of a Code of Conduct" was introduced to articulate protocols on intelligence-gathering activities. This Code of conduct was implemented after illegally obtained information, from the Indonesia’s Presidents Wife’s and Ministers phones, was published in 2009 by an Australian newspaper. It is actions such as these that prevent Australia and Indonesia developing and fostering long-term economic agreements. Therefore,
After evaluating the above factors, it is clear that the partnership between Australia and Japan is of significant importance to both countries. With reference to the Centre for Study of Australian-Asian Relations (1997:152) the future prosperity of Australia will to an increasing extent, be dependent on that of her neighbours in the Asia-Pacific area. Currently the Australia-Japan relationship could be described as “comfortable and relaxed”. However both Australia and Japan need to be alert to the changing environment and must ensure that the right frameworks and policy settings are in place in order for the two countries to prosper.
Shadowing World War II, there was an amplified fear of communism in Australia. The influence of the threat of Communism in Australian local politics from 1945 to the 1950’s was very strong as you can see through Robert Menzies, the Petrov Affair, The fear of Ussr spies, the royal commission and the Alp split show relevant threats to the Australian Domestic politics by saying they are spies, traitors and liars.
Mid September 2008 saw a significant change for the Australian economy, with the collapse of the Lehman Brothers triggering the Global Financial Crisis. The Global Financial Crisis was characterised by a tightening in the availability of money from overseas markets and resulting in governments having to intervene to maintain market stability. The Australian economy and its leaders generated considerable discussion about the prospect of a global recession, while most expected the financial crisis would have a major impact on the Australian economy, a factor that was not considered was the immediacy of its effects. The December quarter of 2008, saw business stocks devalue by $3.4 billion, the largest fall on record. In addition, there was a considerable softening in property prices, resulting in many companies/people having too much debt vs. too little wealth. With this, consumer confidence plummeted which in turn deteriorated consumption. Throughout the month of September and into October, the financial crisis spread from the United States to Europe, and all around the global economy, with economies contracting in growth.
One of Australia’s biggest moral wrongdoings that has been continued to be overlooked is the providing of safety for refugees. Under the article 14, in the Universal Declaration of Human Rights, it states that everyone has the right to seek and enjoy in other countries asylum from persecution. It is not in anyway, shape or form illegal to seek asylum from maltreatment. Australia is obliged under international law to: offer protection, give support, ensure that any individual is not sent back unwillingly to the country of their origin. A report made by
Unemployment is a social problem in Australia, which affects a majority of society in many ways. Not only can it cause financial debt to families, but from there it can cause family breakdowns, social isolation, shame and it can even lead to violence. The Conflict theory perspective explains how unemployment can be caused by class and power by focusing on the inequality within society. The inequality sequentially predicts that the poorer members of society struggle to find employment, to be able to get education to find suitable employment and are.
The health of a labour market can be judged by levels of unemployment and changes in wage growth. Both of these issues come into play when The Australian Financial Review reports that the Australian labour market has tightened over the past twelve months and comments on predictions for the coming year.
Rudd, K., The First National Security Statement to the Australian Parliament, Address by the Prime Minister of Australia, The Hon. Kevin Rudd MP, Australian Government, Canberra, 4 December 2008, , accessed 21 August 2011
The first English settlement in Australia was established in 1788. Before this the Aborigines lived in the land in harmony. However, after the English arrived, the two different cultures were in close contact and had to determine how to coexist. White Europeans did not respect the Aborigines’ right to the land and it’s resources. With brutal force, they took control of the land and claimed it as their own. Australians then developed their own policies on how to deal with the Aborigines, which, as you can expect, bettered their own way of life. There are three historical phases of Australian governmental policies: dispossession, segregation, and assimilation. There are also some recent policies that have acknowledged Aboriginal rights and have increased their autonomy and welfare. This paper will discuss these phases, their effects on the Aborigines and Australia, and the future of Australian race relations.
Over the past five years the Australian economy has gone through many changes experiencing both the peaks and troughs associated with business cycle.
One of the main factors that caused globalisation in Australia was a reduction in protection, the act of National trade barriers being removed. A reduction in protection of international trade is done by governments who work together to develop agreements with each other to reduce trade barriers and allow tariffs on imported goods to be reduced. Australian governments have been involved with countries such as Singapore and Malaysia in an effort to help reduce the tariffs and quotas on imported goods, resulting in free trade agreements between other countries. For example, when National trade barriers are removed, opportunities are opened up to Australian business to import goods at a cheaper price and then export other goods to new markets in other countries. Evidence of this was recently reported on the ABC news program, the reporter quoted that ‘our government should not sign any free trade agreements with Japan, until the tariffs on Australian beef and dairy products are reduced.’ This news report showed local Australian farmers who are trying to convince our Prime Minist...
Australia has had one of the most outstanding economies of the world in recent years - competitive, open and vibrant. The nation’s high economic performance stems from effective economic management and ongoing structural reform. Australia has a competitive and dynamic private sector and a skilled, flexible workforce. It also has a comprehensive economic policy framework in place. The economy is globally competitive and remains an attractive destination for investment. Australia has a sound, stable and modern institutional structure that provides certainty to businesses. For long time, Australia is a stable democratic country with strong growth, low inflation and low interest rate.(Ning)
In conclusion it is evident that Islamic extremists groups will continue to conduct acts of terror in pursuit of their goals and persistent attempts to enforce power over the populous under shariah law. The influence of Ba’asyir will continue to be a motivational and spiritual driver of radical organizations and individuals into the foreseeable future, regardless of incarceration, freedom or execution. Persistent efforts to counter religious extremism by Indonesian authorities and regional partners is not only imperative but essential.
The global financial crisis has brought wide-ranging changes to consumer spending behaviour and consumption patterns throughout the world with the economic downturn impacting on the spending and purchasing power of people.
This coupled with rising number of coal-fired power plants being set up in India to supply electricity for its vast population as well as India’s favorable geographical position towards Indonesia is evidence to Indonesia’s comparative advantage in the production and export of coal. Also, the domestic consumption of coal in Indonesia is relatively low. Therefore, the high national production along with high foreign demand leads to a scenario of larger
In the late 2000s, the World suffered from a big global economic crisis which caused “the largest and sharpest drop in global economic activity of the modern era”, in which “most major developed economies find themselves in a deep recession”, according to McKibbin and Stoeckel (1). Because its consequences have a very big impact to the whole world, many economists and scientist have tried to find the causes of the crisis; and some major causes have been emphasized are greed, the defection of the free market system, and the lack of prudent regulation and supervision. This essay will focus on the global imbalances, one of the most important causes of the current economic crisis.