Management Of International Placement
Management Of International Placement
Capital: Canberra
Population: 19,731,000 (2003)
Official language: English
Time: GMT plus 8–11hr
Currency: Australian dollar (A$)
Web domain: .au
Major religion: Christianity
International dialling code: +61
Overview: Australia has a high degree of prosperity, based on its wealth of natural resources, policies of redistribution and welfare, and stable democratic society. The principal minerals are aluminium, coal, gold, iron, and oil. The economy relied mainly on agriculture and mining until manufacturing boomed after the Second World War. Service industries have since led growth, rising from about 60% of GDP in the 1960s to about 70% in the 2000s.
Despite its steady performance in the 1990s, the economy remains vulnerable to variations in agricultural output and fluctuations in world commodity prices. There is a high level of foreign investment resulting in a serious current account deficit as interest and dividends leave the country; domestic investment is relatively low.
From the 1980s major economic reforms were introduced, including liberalisation of trade and foreign investment, deregulation of financial system and markets, privatisation of public enterprises and government services, and decentralisation of wage settlements.
Government policy is aimed at increasing exports of manufactured goods, in the face of strong international competition. Successive governments have introduced various initiatives to encourage personal saving but none has proved politically sustainable. During the 2000s, the economy grew more slowly, by 3.3% in 2003 and 2004, slowing again in 2005.
Trade: Exports of goods and services account for 20% of GDP and manufactured exports for 30% of total merchandise exports (2003). Principal exports are minerals, metals, metal ores, coal, coke, oil, machinery, transport equipment, gold, cereals, wool and meat, while the main imports are machinery, consumer goods, transport equipment, fuels, lubricants and chemicals. Main export partners are Japan, US, Korea, China, New Zealand and the UK. Most imports come from the US, Japan, China, Germany, UK and New Zealand.
Fifty million years ago the Australian continent broke away from the great southern landmass of Gondwanaland, which comprised South America, Africa, India, Australia and Antarctica. Apart from a period during the last Ice Age when the sea level was 100m lower than it is today, Australia existed in isolation. This resulted in the evolution of vegetation and wildlife which is substantially unique.
It was thought that the Aboriginal population may have lived in Australia for 50,000 years. However, recent evidence from the Kimberley region of Western Australia suggests much older human habitation. When European explorers arrived, the Aboriginal peoples lived by hunting and gathering and using stone tools. Estimates of the historical size of the population range up to 750,000 people. Aboriginal society, though technologically undeveloped, had complex cultural and religious forms, and some 500 languages, in 31 basic groups. There was a rich oral tradition of songs and stories, and many different styles of rock art.
The first known Europeans to land were Dutch. In 1606, William Jansz landed on the west coast of Cape York Peninsula, and thereafter various landings were made. The Dutch named this land New Holland, but showed no interest in further exploration.
In April 1770, Captain James Cook in HMS Endeavour with the botanist Sir Joseph Banks landed in Botany Bay (in what is now New South Wales) and claimed the east coast for the English Crown. Having just lost the American colonies, England needed new penal colonies, and the first shipload of Australian settlers were convicts, arriving with Governor Arthur Phillip in 1788. They moved to Port Jackson (now part of Sydney Harbour) on 26 January, now Australia Day. However, even before transportation to New South Wales was abolished in 1840, free settlers were arriving in increasing numbers. Further exploration, often dangerous, revealed that the land known as New Holland and the English colony were one and the same large island. In 1831, Western Australia became the second colony, followed by South Australia in 1836, Victoria in 1851, Tasmania in 1856, and Queensland in 1859. The Northern Territory was, for some time, part of South Australia and later the responsibility of the federal government, achieving self-government in 1978.
The settler population in early years lived mostly in coastal areas, deploying large tracts of land for sheep and cattle. The annexation of land was often accompanied by brutal treatment of the Aboriginal population, who were forced into the interior. Gold was first discovered in Victoria in the 1850s and prompted Australia's gold rush with a consequent opening up of the interior and more displacement of the Aboriginals. Wheat farming developed, and the country rapidly became a leading exporter. With the invention of refrigeration, export trade in mutton and dairy products began. An extensive railway system was built. Between 1860 and 1890, immigrants, and capital, mostly from Britain, contributed to a long economic boom. In 1891, the country had a population of 3 million, and was exporting wool, mutton, dairy products and wheat.
The colonies, all of which had Westminster-style representative institutions by 1890, became one nation on 1 January 1901. The Commonwealth of Australia, with a federal structure, was established. By the time of the First World War, Australian politics emphasised social policy, industrial development, and protectionism to cushion local industries and maintain full employment. The development of the steel industry after 1915 and advances in mining assisted development, so that by 1939, industry was responsible for 40% of GDP. The colonies, all of which had Westminster-style representative institutions by 1890, became one nation on 1 January 1901. The Commonwealth of Australia, with a federal structure, was established. By the time of the First World War.
Australian politics emphasised social policy, industrial development, and protectionism to cushion local industries and maintain full employment. The development of the steel industry after 1915 and advances in mining assisted development, so that by 1939, industry was responsible for 40% of GDP. Sophisticated industries such as car manufacture developed in the 1950s. By the latter 1980s, Australians enjoyed one of the world's highest living standards.