12/12/2019 0 Comments
Internation business - Essay Example
For the time being, it is considered as just a deal between the two countries (Rapoza, 2013). Free Trade Talks would assist in expanding their bilateral agreement and trade along with improving cooperation regarding conservation of energy, production of high-end machinery and modern agriculture (Palmer, 2013). It is observed that both China and India are looking to work closely in future negotiations and cooperate in areas of energy efficiency, renewable energy and forestry. Both the countries would be undertaking future negotiations on climate change along with cooperating by the aid of ad-hoc groups (Kanjilal, 2010). Both India and China would play a vital role in impeding trade negotiation through mutual cooperation and comprehension of their strategies which would enable them to become a free trade bloc entailing other leading Asia and Oceania nations such as South Korea, Australia and New Zealand (Vishwanath, 2013) Questions 2 Evidently, Australian companies have been very slow to develop Asian connections. Contextually, different views reveal that the attempts made by Australian companies to enhance Asian literacy have not materialised. This is because there have been critical fault lines in most of the strategies that required greater assessment. Moreover, promising programs lacked sustainability and continuity due to funding problems along with changes of policies and governmental interventions. Additionally, certain strategies have been reclusive because of structural impediments. Furthermore, most of the companies have emphasized on issues related to supply and very little importance had been given in building demands in terms of Asian literacy facet along with making investment in the Asian curriculum which seem to be important for foreign nations to be successful on Asian shores (Asialink, 2012) With National Broadband Network coming into the fold, it would be possible for Australian companies to go beyond agricultural and mining sectors in Asian region. Opportunities would be created for participating in a better way in digital economy. In this regard, liquefied natural gas is also expected to grow by a considerable extent. There would also be extravagant opportunities for service, tourism and education sectors to develop with the rising of the level of income within 2025 (Australian Government, 2013; Australian Government, n.d.). Question 3 In recent decades, the Australian dollar has enhanced substantially as compared to US dollar. In the recent times, the Australian dollar has become almost equal to US dollar. This reflects that most of the Afro-Asian countries would be benefited mostly by shifting towards Australian dollar by a considerable level. It has been observed that both Australia and China have decided to get their currencies converted in a straightforward way, which would result in lowering costs for Australian companies performing business in China. It can be considered as a strategic move for Australia and vice versa adding to their economic engagement. The strategic move of converting currency directly is considered to be an essential step for global growth process (Curran, 2013; Poljak & Baker, 2013). Moreover, both the countries could find economic stability in the coming days with agreements been carried out between them. Furthermore, Chinese population can leverage sustained enormous benefits from Australian market. It has become easier for Chinese companies to carry out business
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