The paper "The Impact of Globalization on the Labor Force in Australia" is a perfect example of a business case study. Australia made record s the world’ s richest country in the year 1890. The mineral mining and flocks of merino sheep attracted a lot of international attention which opened Australia to globalization. Globalization has had various effects on the Australian economy such as; leading to increased demand for skilled labor; increased economic development through trade transformation; attraction of foreign investors; improved country’ s ability to integrate technology in various sectors such as bank and financing institutions.
One of the most significant effects of globalization is that Australia does not have any restrictions on the movement of labor in and out of the country. Hence, Australia experienced a huge change in the composition of different businesses and industries encompassing the workforce. There is an increasing shortage of skilled labor in the country due to emigration. Australia is highly dependent on immigration to increase the workforce level. The Australian government has enacted some policies which aim at increasing the level of skilled labor in the country. Introduction Globalization refers to the process of international amalgamation which results from the exchange of global views, goods and services, thoughts, and other features of culture.
The main aspects of globalization include; transportation, telecommunication, telegraphs, and the internet. The origin of globalization is not clearly defined; however, some people have traced it to the late 19th century and untimely 20th century. The world’ s economies are connected (Bond & Gaston 2011). In the year 2000, the International Monetary Fund described the major aspects of globalization as business and commerce, resources and venture, immigration, and distribution of information.
This paper seeks to address the impact of globalization on the Australian labor force. Origin of Globalization in Australia During the 19th century, the Australian populace and affluence increased hastily.
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