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Australia

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by

Dana Tran

on 7 February 2014

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Transcript of Australia

Economic Freedom (2)
Strong Judiciary
Independent
Federal and Local branch
Keeps corruption minimal and ensures protection
Secure property rights
Government
Stable fiscal policy
Top income tax rate is 45%
Flat corporate tax 30%
Low public debts 24% of the GDP
Government spending amounts 35.2% of the total domestic output
Business Oppertunities
Takes two days to launch a business
Unemployment is low (5%)
Adjustable interest rates due to modest inflation
Open Markets
Low tariffs
Foreign and domestic investors receive same treatment
Private banks
Australia
[Qualitative Aspects]
- History
- Business Customs
- Government Politics
- Basic Information
- Economic Condition
- [Qualitative Aspects]
- Cultural Tidbits

Australia
Population
22,262,501 (July 2013 est)
Language
Main Language:
English
Other Languages:
Mandarin
Italian
Arabic
Greek
Vietnamese
Presented by Ashley Golinski, Yuki Kitagawa,
Shogo Mori, Dana Pham - Tran

Gross Domestic Product
average GDP growth rate: 0.9%
Political Stability
+ world's best regulatory environment
History
Cultural Tidbits
Basic
Information

Other Info
Land Area: 7,741,220 sq km,
6th largest country
Ethnic Groups: 92% White, 7% Asian, 1% Other
Economic Condition
1901-1945
1950~
1788 - 1851
Pre-Colonial Age
Federal Commonwealth of Australia formed in 1901
World War 1
World War 2
One of the founding members of the UN
Economic Boom
ANZUS Treaty with New Zealand and the US (1951)
Japan Treaty (1957)
Economic Crisis during the 1990s

Aboriginees
Britain established penal colonies in 1788
Free settlers established a colony in South Australia 1830
Australian Frontier Wars 1788 - 1934
Gold Rush 1851
Relationships & Communication
Very direct
There are often elements of humor
Use of "colorful" language
Business Meeting Etiquette
Require appointments
Good to arrive early
Meetings are relaxed, but it is important to keep in mind that they are important
Avoid exaggerated claims during a presentation
Use facts and figures as emotions are not important
Negotiations and Decision Making
Do business quickly with little small talk
Be direct
Bargaining is not customary
Little or no negotiation
Decision-making occurs at the top of the company
Business Attire
Wear dark colored business suits or a smart dress in Melborne and Sydney
In tropical areas, people may wear shirts, ties and Bermuda shorts
Business Customs
Government
Constitutional Monarchy
Bicameral Parliament
House of Representative and Senate
Prime Minister: Tony Abbott
Governor General: Quentin Bryce
Monarch: Queen Elizabeth II
Federal and Local governments with three branches: legislative, executive and judiciary
Voting
Universal male suffrage
One of the first countries to give women the right to vote
Voting age is 18 and is mandatory
Economic Freedom
Government Policies
Currency - Australian Dollar
6 States
3rd freest economy in the Asia-Pacific region according to 2013 index of heritage.org
Capital: Canberra

Big Cities: Melbourne, Sydney, Perth, Brisbane
Bibliography

301%
+ world's third largest energy export producer
+ 80% of the economy is services-based
+ economic success is based on the abundance of agricultural and mineral resources
+ politically stable, prosperous and peaceful country
+ democratically elected government
of the world's average
+ second easiest place in the world to set up a business
+ financial services sector has maturity and growth
+ emphasis placed on sales, marketing, and customer service
Competition
+ 22 years of consecutive growth
http://australia.gov.au/about-australia/our-government/australian-government
http://australia.gov.au/about-australia/our-government
http://www.dfat.gov.au/aib/the-land-and-its-people.html#brief_history
http://www.australiatravelsearch.com.au/images/ausgov.gif
http://www.bobinoz.com/blog/1542/australian-politics-explained/
http://www.youtube.com
Google Images
https://www.cia.gov/library/publications/the-world-factbook/
Full transcript