Outline the effects of globalisation on the Australian economy in recent years. Focus on trade, investment, finance, technology, and labour.

In recent years, globalization has spread layers of influence in all directions of the world, including Australia. Globalisation is the growing economic interdependence amongst nations, as reflected in actual movements of trade, investment, finance, technology, and labour. Globalisation is not new, but the pace of integration of economies has quickened and economies are more closely integrated now than at any previous time. In many ways the linkages between economies are more intensive and far reaching …

…The pace of linking economies has accelerated and economies are more closely integrated in the twenty-first century. This is apparent in the change of the size, direction and influence of the dimensions of globalization: trade, investment, technology, finance and labour. Any way you look at it, Australia is integrated into the globalised world economy and is dependent on the activities and policies of globalization. Australia's future will move with the ebb and flow of globalization.