Cultural Geography of Australia
Should we develop a gold mine or raise huge herds of cattle for beef? Should we trade gold with our neighbor to the north or beef with our neighbor to the south? These decisions are ones a country might face as it develops a strong economy. Each country in the world depends on its economy. A strong economy means a country can feed and educate its population, construct roads and cities, and build cultural attractions and parks. Some countries’ economies are more successful than others. But why? Australia, located in the south Pacific, shares no land borders with other countries. Yet it has developed a strong, successful economy. Let’s learn about a few reasons why.
Australia on a globe
Australia’s Economy
In recent history, Australia was known mostly for sheep raising and other forms of agriculture. The main exports were wool and beef. After World War II, Australia saw huge developments in mining, and the economy began to shift to a newer model. Now one of the wealthiest and most successful Asia–Pacific countries, Australia’s economy has been growing strong for the past two decades. Australia now excels in many industries, including manufactured goods, financial services, agriculture, and mining.
Even though Australia is its own continent, trade with other nations is important to its economy. The value of exports and imports makes up about 40 percent of Australia’s total gross domestic product (GDP), a measure of the value of economic activity in a country.
Australia’s top five export markets, countries that they send their products to, are China, Japan, the United States, South Korea, and India. Some of Australia’s top export products include iron ore, coal, travel services, natural gas, and gold.
The International Monetary Fund recently ranked Australia 14th globally in its list of GDP rankings. As well, Australia is ranked fourth among 43 countries in the Asia–Pacific region.
What Makes Australia So Successful?
We’ve learned that Australia has a strong economy, the ability to make and sell products, and good use of local resources. But a country’s economy depends not only on its resources and manufacturing. The success of an economy depends on other factors as well, such as politics, laws, and processes. Let’s learn more about each of these factors.
A Stable Political System
Australia is a democratic country with a free-market system that encourages people to start businesses, where the government does not interfere. It has a stable government, which follows its own laws and processes. If there are concerns, there are processes in place to ensure the government acts responsibly.
Strong Legal System
Australia has a strong legal system with clearly written laws that are upheld by the courts. Because of this system, property rights and contracts are protected. Corruption, such as officials taking bribes, is less likely to happen because there are clear consequences.
Organized Processes and Skilled People
Efficiency and entrepreneurship are highly valued in Australia, making it a good place to do business. For example, in 2016, registering a business took less than three days.
Australia also has a well-educated population, skilled in most types of work, so businesses can easily find people to hire. There are also well-designed employment policies that protect the rights of workers, making it a good place to be an employee.
Amazon Rainforest
Welcome to the mighty Amazon rainforest, a natural wonder of the world. Learn why the Amazon is important to us, current issues involving the rainforest, and concerns for the future.
Importance of the Amazon
The largest tropical rainforest in the world, the Amazon basin, covers an area of 2.7 million square miles. Countries located inside the Amazon ecosystem include: Brazil, Peru, Ecuador, Bolivia, Columbia, Venezuela, Guyana, French Guyana, and Surinam. Today over 30 million people live in this region, and depend on the rainforest for their livelihoods, as well as necessities such as food and shelter.
Biodiversity
The Amazon has amazing bio-diversity. Researchers are only beginning to uncover secrets of the rainforest. They estimate between 5 - 50 million different types of plants, animals, and insects live in the rainforest.
Canopy and Oxygen
For every two and a half acres of rainforest, one ton of carbon dioxide is absorbed and recycled into oxygen. Over 20% of the world’s oxygen is produced in the Amazon rainforest.
Medicine
Over one-fourth of prescription drugs sold in the U.S. are made with ingredients, like the flower of the Lipstick Tree, that are found in the rainforest. These drugs help treat diseases such as leukemia, breast cancer, asthma, and high blood pressure.
Water
