Globalization and Australia. Alan Oxley Australian APEC Centre, Monash www.worldgrowth.org. Three aspects. The impact of globalization What is globalization Impact on Australia. What is the impact of globalization?. The wealth gap is narrowing.
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Australian APEC Centre, Monash
The evidence shows that the poorest people within countries share in the gains from national income growth. Generally, as a country ’s average income rises,the poorest share proportionately in those gains. More specifically,the poorest 20 per cent in an economy gain by the same percentage as the country does. And as a country ’s average income per person rises,the proportion of its population living in extreme poverty falls.
Percentage of foreign stocks held by US investors
- Ford sold its components business for $1.5 billion - That business, Visteon, supplied 22% of a new Ford vehicle
- Ford spent $9 billion buying brands: Jaguar and Volvo
- immigration - adaptation of technologyAustralia is the branch office model of development
Source: Economist Intelligence Unit
- More global distribution of activity
- Greater interconnectivity
- Bigger organizations
- Greater fragmentation
- Greater personal freedom