IR case study Essay Example | Topics and Well Written Essays - 500 words

IR case study - Essay Example Today Australia has shifted from this method to free trade system. The country holds many free trade agreements with many countries such as China, US, Thailand, Singapore, and Chile. China is the largest market for Australia’s exports and also is the largest source of imports for china. In fact this has seen many Chinese companies investing in Australia. The country also has free trade agreements with New Zealand which dates back to 1965. Due to the advanced economy, the country has seen development of service industries such as finance, banking, insurance, tourism, consorting, and entertainment industries. The government provides services such as welfare, health, education, and other business services. Of these services in Australia, finance, insurance, and banking are the best in terms of performance and also the fastest in terms of growth in the country. These service industries are the backbone of the country’s economy. However, in the past decade, mining industry was at the back of the country’s economic growth. Australia is the world’s number one in production of uranium, zinc, lead, brown coal, nickel, and zircon. It also ranks number two in production of silver, copper, and gold. These minerals are in high demand all over the world. China, for example, is the country’s number one destination for iron where it is in high demand. With the shift from protectionism to free market polic ies the country’s industries have grown at a very high rate. Equating industrial disputation according to the official statistics to industrial harmony would be misleading. This would be so because the two are not the direct opposite of the other. The causes of industrial disputes may be avoided and yet we might not have industrial harmony. Industrial disputes arise when there are disputes with the workforce or the representatives