Maritza Ascencion
& Charlie Peile
Australia is a country located in the Oceania/Australia continent in the South Pacific and Indian Ocean and its closest neighboring country is Papua New Guinea which is 6 km apart from australia and was once a former dependant territory. Australia does not share any land borders with any country. Australia measures 7,682,300 km2 in land, and 58,920 km2 in water and Its density is 2.9/km2. It is a more free market economy than a planned economy and the government is rarely involved in the market. The population in australia is approximately 24.6 million people and only 5.02% of the people are unemployed.
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The current prime minister of Australia, as of August 2018, is Scott Morrison. Australian shares have dropped to their lowest point in over two years, between rising US-China trade tensions and have a depressing future for the local Australian economy. (Chau).
Worldatlas. “Where Is Australia?”
Monshein, Jared. “United States Study Centre.
OEC, Australia trade balance
COUNTRIES THEY TRADE WITH:
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China
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Japan
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South Korea
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India
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Hong Kong
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UK
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United States
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New Zealand
IMPORT PRODUCTS:
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Technology
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Broadcasting equipment
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Computers
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Transportation
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Cars
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Special purpose ships
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Refined petroleum
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Chemical products
EXPORT PRODUCTS:
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Minerals
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Iron ore
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Coal briquettes
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Petroleum gas
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Animal products
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Vegetable products
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Precious metals
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Gold
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Diamonds
Government intervention:
The Australian government has intervened with the gas market has increased the supply to the domestic use, but the citizens say that the prises are still too high! “The solution for state governments which are inflicting the highest gas prices in the country on their households and businesses is literally under their feet” Morrison said
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