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Globalisation and trade liberalization are worldwide phenomena that have significantly changed Australia's trading relationships over the past decades.
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Globalisation and trade liberalization are worldwide phenomena that have significantly changed Australia's trading relationships over the past decades. Traditionally , Australia is a highly protected country against foreign competitors by using methods of protection such as tariffs and subsidies. However, since the 1980s Aust and many of the world economies has faced substantial reductions in trade barriers in order to promote what we known as Free Trade. Australia gradually reduced its trade protections, which can be any actions by national governments that will give an artificial competitive advantage to domestic producers over foreign producers. The changes to the free trade and protection policies has caused a significant improvement in the number of Free Trade Agreements (FTA) and a shift in Australia's trading relationships, which in turn has affected firms, individuals and also the Australian government. Since the mid 1970s, Australia has started to reduce protection by cutting tariffs, tax on...
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