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International Newspaper Business Report about country Australia

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Center of discussion in this paper is an Australia that has an interesting background that almost mirrors that of the United States in the sense that Europeans men made territorial claims to the land even though there it had native occupants. The country became the commonwealth of Australia in January 1, 1901 when it got independence from the federation of UK colonies. However, the country is still heavily influenced by the British system for example its legal system, the common law system is based on the English model. Also, the chief of state is the current head of the British Monarchy who in this case is referred to as the Queen of Australia, Queen Elizabeth II. Since the Queen cannot be in Australia on a full-time basis she is represented by a Governor General. Furthermore, on its upper hoist-side quadrant, the Australian flag bears the UK flag. However, the actual running of the government is conducted by an elected parliament under the leadership of a prime minister. Australia is divided into 6 states and 2 territories that are governed by a Federal Parliament that consists of 76-seat senate and a 150-seat house of representatives. After elections, the leader of the majority party or majority coalition is sworn in as prime minister by the governor general. Australia’s current prime minister is Julia Gillard of the Australian Labour Party. Australia is a resource rich country that has a plethora of natural resources that include gold, silver, copper, bauxite, iron ore, tin, uranium, nickel, tungsten, rare earth elements, mineral sands, lead, zinc, diamonds, natural gas, petroleum and coal. In fact it is the world’s largest net exporter of coal, accounting for 29% of global coal exports (“CIA – The World Factbook,” 2011). The country also has a unique eco-system that includes fauna such as kangaroos, emus, duck-billed platypus, and the world’s largest coral reef, the Great Barrier Reef off its northeast coast. The country’s economy is largely dependent on its abundance of natural resources that continues to attract large levels of foreign direct investments. However, Australia is also has a large services sector as well as a vibrant agricultural sector. The country’s economy has been on a consistent growth path over the last 17 consecutive years before the global financial crisis. Even, the global financial crisis could not choke Australia’s economic growth for long as it rebounded after just one quarter of negative growth. The economy grew by 1.2 per cent in 2009, which was the best performance within the Organisation for Economic Co-operation and Development (OECD) countries and by 3.3 per cent in 2010. In conclusion, Australia is a great country to invest in because it has a diverse population cultural background, though largely dominated by whites, as well as a diverse religious affiliation from protestant to Catholic to Eastern Orthodox to Buddhist to Muslim and so on. The country has an excellent domestic and international telephone service and a robust Internet infrastructure that had 15.81 million users as at 2009. It also has 465 airports, the 7th largest railway network and 9th largest road network in the world and several world class ports. Source: CIA – The World Factbook. (2011, December 19).CIA Table of Contents Executive summary i Table of Contents iii Chapter One v What is International Business? v 1.1.Summary v 1.2.Relevance to Chapter 1 v 1.3.Article Critique and Additional Insight vi 1.4.Article reference vii Chapter Two viii Globalization of Markets and the Internationalization of the