Economic Issue

Question 1

What is the economic issue?

Answer 1

China Australia free trade agreement

Question 2

impacts of markets on the aus economy

Answer 2

Emotional, physical and spiritual security
Job satisfaction
Stable relationships
Good health

Question 3

Positive impacts of China Australia Free Trade Agreement

Answer 3

Some tariffs eliminated on manufactured exports, and agriculture export.
Improved access to partnerships with Chinese firms for legal and financial services in China

Question 4

Negative impacts of China Australia Free Trade Agreement

Answer 4

No tariff reductions for sugar, rice, wool, cotton, wheat, maize or canola
Chinese investors in projects valued over $150 million will receive additional rights to bring in temporary migrant workers to Australia without local labour market testing

Question 5

Government action

Answer 5

Minimise labour cost to make
Greater access to natural resources
Minimise storage costs
Large companies develop products that are popular in all parts of the world