Put simply – globalisation is the interconnectedness of domestic economies to a more ‘global’ economy. Now due to the rise of globalisation. And what happens across the world offshore in one economy. And can have major consequences locally in another economy. As host Andrew Baxter says – this wasn’t always the case. Once upon a time here in Australia our main export was wool. And really our only trading partner was the UK. 50 or so years ago. Also, it was a narrow channel. And we didn’t really care what was going on elsewhere given it had no real impact on us. How times have changed, right?
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