Outline the Effects of Globalization on the Australian Economy in Recent Years

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 than ever before.
Trade has played a major role in the emergence of a global economy.…