Legal And Political System Of Australia

Like the British, Australia is also a system of responsible government. The Government (the Prime Minister and cabinet) is responsible to parliament. This means that at any time, the parliament can remove the Government from office or force it to call an election. However, besides the known differences between both countries such as unlike Australia’s upper house, the UK’s upper house is not elected, in terms of being more democratic, Australian federal elections attracts more attention than British because of Australia’s use of Preferential

The spread of globalisation especially since 1990 has introduced many new elements into the financial markets and what determines the value of a nation 's exchange rate. This does not just apply to Australia, but as we saw in the later half of the 1990 's, to many other nations in the world. Firstly, trade in goods and services makes up a much smaller proportion of the demand and supply for currency. In the world economy, payments for international trade only account for about 1% of foreign exchange transactions. The total foreign exchange requirements for exporting and importing of goods and services in Australia is less than 3% of the total use of the foreign exchange turnover in Australian dollars (Reserve Bank Bulletin, Table F7 and Australian National Accounts, 5206.0). The main purpose for foreign exchange trading is international financial transfers of

Throughout this essay, a comparison of both Australia’s constitutional democracy and the federal republic system in the United States will take place. Australia and the United States are both a part of the federal system. Within the federal system, the national and state governments divide the power in order to govern (Parliamentary Education Office, 2016). Both Australia and the United States have two chambers, the House of Representatives and the Senate. Parliament Education office, (2016) states that there are numerous similarities between these two countries, for example, both these nations decide on the making of legal guidelines for their government. However, Australia and the United States have different forms of government and this affects how the political system is managed. Australia is a constitutional monarchy, in which the queen is the head of the state (ABC, 2004), and the United States is the federal republic where the President is the head of state (Parliamentary Education Office, 2016). A constitution is a formal structure for the state and specifies the power and institutions of the central government and its relationship with different levels. Additionally, it expresses the rights of citizens and creates limits on the government (Hague & Harrop, 2013). In a republic government, the people and their elected representative have the power and there may be an elected or nominated president (Stevenson, 2010). A constitutional democracy and the federal republic

In common with other countries that derive their legal and political system from England – such as Canada, India and New Zealand – Australia has three arms of government; the Legislature (consisting of democratically elected Members of Parliament, which make statute law); the Executive (which implement legislation and administer the affairs of government, consisting of The

The Australian political and judicial systems operate in a federal model that was established in 1901. Since governmental and judicial decision-making occur at both federal and state levels.

In the Australian Legal System, members of political parties, leaders etc. have to be over the age of 18 in order to become a member and is usually selected by Parliament, Courts or Judiciary or members of public through voting. [7]. both Legal systems have Separation of Powers, but are structured and operated a bit differently to each other. Australian Separation of Powers all work towards the law and how it is enforced, the Parliament makes and amends the law, the Executive enforces it, and the Judiciary makes verdicts about the law. [9].

With a GDP of over $1 trillion USD, the Australian economy is among the largest in the world (Cornett and Saunders, 2014). Australia is trading partners with the United States, China, and Japan, but their economic ties are mainly centered in the Pacific Rim. Exports are crucial to the country’s GDP and this has created problems regarding sustainability in the Australian economy.

Australia has a federal system of government and under that system the powers are divided between a central government and individual states. Power is divided between the Commonwealth Federal Government and the six state governments. Australian Parliament consists of the Queen (which is represented by the Governor-General), the Senate, and the House of Representatives. There are three arms to the government of Australia—the legislature (Parliament), the executive branch (the Australian Government), and the judiciary branch (legal arm of the federal government). The Parliament of Australia is made up of a total of 226 people who are elected to the Senate and House of Representatives. The office

Marcio Alaor believes that the reason Australia is experiencing growth is due to the fact that they are a major exporter of commodities. They export goods to international markets like China. The are large exporters of agricultural commodities that include soybeans and wheat. They are also large exporters of mineral commodities that include aluminum and iron. Marcio Alaor also states that Australia is one of the biggest commodity exporters in the world and that is why the Australian economy is experiencing constant

Australia and the United States have always had a very strong relationship through trade and mainly defence. The security of Australia heavily depends on the US, as we are there main allies in defence. Australia and the US are both apart of an organization called APEC. They both have very important roles as there are classified as the head nations. This organization first started in January 1989 in Australia when current prime minister Bob Hawke called for a more effective economic operation across the Pacific Rim region.

Australian economy is ranked 5th in global ranking while in Asia-pacific regional ranking it’s ranked at 4th. The main components of Australian economy on which it’s based are retail trade 5%, manufacturing 7%, services (including finance) 58% and mining 7% and construction 9%. Currently Australia’s economy is growing at

Ever since 2014 crude oil prices have been decreasing dramatically, this has contributed to various global economic issues that has the potential to destabilise the economy.There are various factors which contribute towards these issues where the result has a negative effect on Australian industries. In order to prevent the ever decreasing crude oil prices, the Australian government needs to implement new policies and legislation which could assist to mitigate the impact of fluctuating oil prices within the economy. By doing so, there would be a positive effect on the Australian economy which could help restabilise the global economic situation.

Over the last decades, the relationship between ASEAN and Australia was remarkable. ASEAN represents almost 15% of the Australia two way trade, with two-way trade valued at almost $100 billion Australia dollars in 2013, while Thailand hold more than 19% (worth approx. $19.5 billion Australia dollars) of the total values of two way trade between ASEAN and Australia in 2013, which is a rapid growth of values of trade compare to 2012 figure ($18.5 billion Australia dollars).

The development in the progress of China, India and Indonesia benefits Australia and contributes significantly to regional stability which extends opportunities for a successful and reciprocating business partnership instead of being aid dependent. Australia’s economical national interest is directly linked to the success, stability and peaceful interactions of its neighbours because these countries are also the first line of defence against many negative issues which could affect Australia (Department of Foreign Affairs and Trade 2016c). If these states remain to be wealthy and stable, they will respond better to efficiently to threats and complications in trade. In order to benefit from the trading relationships with the neighbouring countries, Australia needs to take advantage of the international economic opportunities and ensure we are focused on advancing in global economic, financial, investment and trade institutions. A globally integrated economy is crucial due to the growth which can be gained from an open trading system and foreign direct investment which secures our position in the economically advancing countries of the world and our own financial welfare (Wong 2017).

There are three major economic factors that have combined contribution to FMG’s growth over the past 5 years, including the strong AUD , the amazing export feature due to the Chinese boom which drives up the commodity price and the interest rate decision by RBA. Australia dollar has appeared strong for the past 5 years and maintained at $6-$6.8 level for AUD/CNY at most time. It promised a high level of foreign income for Australia exporter. In 2009, China demanded almost 60% of the world’s iron ore to produce 47% of world’s steel production. It contributes the most to the price rocket from $31.78 to $180.6 US cents/mts in 5 years time. In addition, Australia borrowing cost remains high over the past few years which may alter the finance decisions of FMG.