Globalization has witnessed the inclusion of economic and technological resources to complete the developments witnessed within the society. Economic globalization, conversely, has been presented to complete the adaptations needed to present stable economies…
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The industrial and commercial sectors have been the leading presentations used to offer the needed ventures to achieve stability in income generation and present stable resource acquisition. Developed societies have excelled in presenting stable economies with a larger share in GDP and proper application of the resources available. With the competition in the business industry to maximize on the available resources, opportunity generation is elevated. The other stable presentation has been in the government provision to offer the needed resources and opportunities to stabilize the economy. Western Australian economy has been the example of the dominant GDPs in the global sector with an elevating sector that is boosted by stable supply in the resources. The economy has been developed based on the principles required in developing stable economies capable of presenting support to the existing population. The economy has grown since 2010 by 3.5% with a stable supply of mineral reserve and energy to drive the industries (Government of WA, 2002). With globalization, the existing sanctions and limited operations within borders have been opened to promise free participation of foreign members in exploiting the resources available within the country. The globalization aspect has been noticed to play a significant role in developing the stable economy of Western Australia with resources and energy sources benefiting from the modernization process. Legal and Political Environment The political sector within the Western Australian economy sector has been classified to be advanced into providing the needed platform to conduct business activities. With the economy supported by stronger policies and a stable mining economy, the developments have been subjected towards maintaining the level of income within the industrial sector. The global Financial Crisis (GFC) had been avoided due to the strength of the policies subjected towards developing the available resources and allowing the needed platform to conduct foreign business (WACAR, 2010). The resources have developed the ideology in the government and legal framework and offer stable employment opportunities and utility of the resources (Scott, 2012). Western Australia covers the region of an estimated one-third within the whole Australia with the majority of the labor supplied by the interstate and international workforce. The other contribution by the WA government has been extended in the provision to offer a $30 billion budget to be supported to development sector (WACAR, 2010). The state has supported the needed initiatives to be invested in development projects to favor the increasing market sector with the labor department encouraging foreign policies to add to the population. With the increasing population, the budget has also been developed to support modern urban housing projects to the increasing population within the economy. The population with the incentive that is given to development projects and the business community prefers the current elected government. The government realizes the need to offer stability within the WA economy by presenting the needed funds to develop the health sector, education and infrastructure. The legal framework is supportive of the reforms to support health facilities and offer strict regulations against the parties that exploit the oil resources. The state government laws support the stable urban system and the by-laws that offer security to the development platform noticed within the region. Financial Climate The economy is greatly supported by the export of minerals in gold and natural gas and boasts of a dominant facility to support the industries within the econom
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(Western Australian Economy. Legal and Political Environment Essay)
“Western Australian Economy. Legal and Political Environment Essay”, n.d. https://studentshare.org/macro-microeconomics/1398766-international-business.
In year 2009, a leading forecaster anticipated that the economy of Australia would dip with regards to performance. One of the reasons why this forecaster expected such is because there was very slow growth in a closely related economy of China. According to Access Economists, an Australian research company, the prospects for the mining-oriented economy were that the performance of the economy would really become dismal.
Australia was predicted to develop again in 2008-09 at a percentage of 2.75 which is higher than the standard development rate associates of the Organization of Economic Cooperation and Development (OECD) of 2.2 per cent. In addition, Australia ranks in the first position, in the Asia-Pacific area, for service, farming, and industrial efficiency per person in employment, according to the IMD World Competitiveness Yearbook.
227). These disparities not withstanding, Harris and Harris (1992) report that the aggregate gross product growth rate was above national growth rate in most parts of the Oceania region and beyond. This analysis speaks of the strong economic history that Australia has possessed over the years.
Australia registered an annual growth of 3.2% in the GDP till the second quarter of 2010 (The Australian Bureau of Statistics, 2010) which is unlike other developed economies that have displayed either slower growth or negative growth. This rate of growth equalled the thirty year average for the Australian economy and was greater than the forward estimates for economic growth predicted in 2009 (Australian Government, 2010).
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For a society to exist it has to be made up of a population which shares a terrain and culture and often this population tends to be very large and made up several generations. Each and every society has its individual traditions and ethnicity, that is what makes up its particular culture. The religion is one of the chief elements of a society’s culture.
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The author of the essay casts light upon world globalization processes. It is believed that globalization means advances in telecommunication infrastructure and transportation infrastructure are the main factors for globalization, leading to the greater interdependence of socio-cultural, political and economic activities.
Women in Saudi Arabia have been estimated to be approximately half of the population. The unique ration of men to women in the region is due to over 5 million, most of whom are male, workers who have immigrated into Saudi Arabia from foreign regions.
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