Asia has a significant impact both internationally and in Australia. Two-thirds of the world’s population resides in Asia, making it the most populous continent. Asia is home to some of the most dynamic, diverse, and complicated societies on earth. It will soon be the world’s largest consumer and producer of products and services. In 2014, Asia accounted for 11 of Australia’s top 15 export markets (for both commodities and services), or approximately 71% of all exports. Approximately 58% of Australia’s two-way trade was with nations in the Asia-Pacific region. There is no denying the economic significance of Australia’s effective engagement with Asia. Besides from being the most populous nation, China is the major economic centre of Asia. It is also known as the “Factory of the World,” where the majority of goods are produced. Businesses in Australia rely on China since it enables these companies to create their products at competitive prices. The IMF reports that China’s economy...
Independent Teacher, Freelance Writer, Conservationist, Eco Friendly Environment Crusader. A life hack writer by choice. Published articles on Ezinestack and Lifehacker.