Sample Term Paper
In another article, The Canberra Times comments on the possible measures being contemplated by the Government to limit free trade by ranking up tariffs and subsidies (Barnett 2009). This is seen as a possible deterrent to the adverse effects of the international financial crisis and that it would help local businesses to stand up. Globalization is seen by some circles to be blamed for the recession that is leading to layoffs and a drop in production.
It is believed that such restrictive measures can be used, despite remaining WTO legal to help the Australian economy. However it is argued that it could potentially be devastating since the country now has a big population and in recent years has been witnessing floods in rural areas and bush fires along with other troubles. It requires the elements of free trade to be present so that cheap imports can be brought in to meet local needs as the local economy may not be as self sufficient as is predicted (Barnett 2009).
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