Government Regulation And Business Relations Essay

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Discuss about the Government Regulation And Business Relations.

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Era of Liberal economics is over: Keating seeks nation-building

This article has been published on May 6th, 2017 and author were Troy Bramston. There has been a new model generated by Paul Keating for the renovation of the liberal economics. This is done so that the government is led in the new age of investment in the nation-building infrastructure. The liberal economics has caused a dead end. Thus it is a time that there is a return to the investment by the government. There has to be the maintenance of the demand equation between the government and the private. The government that is clever is capable of selling the assets to the private market. Infrastructure in demand equation for both government and private are missing nowadays. This new regulation will help to enhance the growth of the economy, jobs and the living standard of the people. This policy has to be applied now so that the reformation takes place and will help to create vast amount of wealth for the economy of Australia. There is a requirement of a consolidated budget by the government for the application of this new policy. The governments have to have a role in the initiation of the investment of the private capital and setting up of the infrastructure and then selling it to the superannuation finances. The primary problem is that the people are not willing to learn these new policies. The main challenge is to deal with the shortage of investments in the instruments that will shape the cities. The moderation is required on the recurrent expenditure.

Bramston, T. (2017). ‘Liberal economics had its day’. Theaustralian.com.au. Available at: [Accessed on 13 Sep. 2017].

Japanese Parliament to consider law backing commercial whaling

This article has been published on 16th June 2017 and reported by Rachel Mealey. Japanese Parliament is considering about resuming commercial whaling. The Parliament desires to start again the commercial whaling as the Japanese people take whaling as cultural rights and they do it annual basis as hunting. Japanese people hunt the whale in Pacific and Southern Ocean. Japanese people take the whaling business as their scientific hunting and International Whaling Commission cannot do anything as IWC supports the scientific whaling. In this regard, Japanese people find the loophole of the international law and start whale hunting again. IWC always prohibits the commercial whaling. The new bill of Japanese parliament wants to give funding about research whaling to the people from the national budget of Japan. The bill also provides resources to Japanese whalers. Japanese government and parliament think that whale hunting is the sense of pride to the people of Japan. The parliament also thinks that Japan people do not restrain of whale hunting as it is the sense of nationalism to them. However, some of the anti-whaling protesters are there to protest like Sea Shepherd. A few months ago, Sea Shepherd published news and photographs of a dead whale on a dock of the ship. However, the government is captioning the bill as Implementation of Scientific Research as commercial whaling. Scientific whaling focuses mainly on counting the whale and finding out the issues in whale across oceans. On the other side, scientific whaling counts the population of whaling that would provide benefits of commercial whaling as well. The bill is propaganda of Japan's international fame and not to support the Japanese taxpayer.

ABC News. (2017). Japan to consider law backing commercial whaling. Available at: [Accessed on 13 Sep. 2017].

China’s export continue to slow, but the domestic economy is holding up

This article was published on 8th September 2017 and reporter was Stephen Letts. It has been observed that China is witnessing the poor export performance as demand is weakening day-by-day. The first sign of the slowing export possibly is that US dollar is getting stronger. However, China has good news that imports from China are observing prosperous sign as domestic economy is getting robust. This means that market forecasts foresee that US dollar and China's currency both will lower in coming days in China. However, Chinese economists are not seeing any alarming situation in export rate is slow now as the import is growing excessively high. In terms of US dollar, the import is growing well and Yuan measures it performed as high. In case of other big economies' like Europe, the US, Chinese export rate growth is slow, on the contrary, in Asian countries; the growth of export is accelerating in recent time. From an Australian perspective, the iron ore import is strengthening up. Chinese economists measured both import and export prices and they found it's weakening the volume of trade. US dollar is stronger currency and Yuan price is not raised according to market value. However, market analysts found that Chinese Yuan is taken appreciation against US dollar that could be potential profit for China. However, stronger Yuan may not be profitable for export market growth in near future as China's export competitiveness can be shifted to high-tech items.

ABC News. (2017).China's exports continue to slow, but the domestic economy is holding up. Available at: [Accessed on 13 Sep. 2017].

Political donations: New data maps industries’ web of influence

This article was published on 9th February and it focused on the mainly increase of political donations by business organisations. Companies, business and individuals are donating in political parties for influencing the Australian politics. In order to buy the influence on political parties, most of the organisations in Australian donating money, however, real estate companies and construction based organisations are at the top of this chart. However, there is the opposite side also as New South Wales banned the donors to political parties from property development business. In case of taking help from political governance, the organisations are trying to create pressure on political parties as mining and finance firms are the major players in taking the advantage of political propaganda with unions. In the year last year (2015-16), the top place was taken by ‘individual’ donors and almost $6.6 million was donated to the political parties. The business sectors included are construction, unions, finance, resources, unions, health and manufacturing companies. However, many entrepreneurs and industrialists personally donated in many political parties. In this light, Paul Marks, mining entrepreneur donated 1.3 million AUD to Liberal Party and he is the largest individual donor. The major banks (Westpac, Commonwealth Bank, ANZ and National Australia Bank) are not far behind and they donated to both Labour and Liberals parties. In case of Labour parties’ donor, the top five places are from construction, finance, unions and pharmaceuticals. Pharmaceuticals giant Pharmacy Guild of Australia donated $140,000 to Labour party.

ABC News. (2017). New political donations data maps industries' web of influence. Available at: [Accessed on 13 Sep. 2017].

John Adams: An Economic Crisis is on its way

This article was published on July 4, 2017, and this article dealt with the economic crisis in Australia. John Adams identified some signs that could help Australia to be safe from the economic crisis. Australia's bubble economy is driven by low-interest rates and consumption inducing tax with welfare policies. However, World Bank warned Australia about increasing of interest rate can be vulnerable for the people. Australian's household debt is as proportionate to the disposable income of the people and the rate is high now (190.4%). After the economic growth of the 1920s in Australia, Australia saw major economic depression for two times. In November 2016, Australia saw foreign debt at the highest level with access to $1 trillion as household consumption and low national savings were the main reasons behind this. US Federal Bank is to raise the interest rate, the result of this, Australia has to increase the interest rate on Australian borrowers for the credit rises and international cost. Australia is integrated with the global financial operation. In this situation, Australian economy can go in two directions, it has to raise the interest rate and other is Australia government may lead not to allow other companies to intervene in the market. In conclusion, Australian economy needs to find equilibrium for macroeconomic factors, prices, profits, wages and employment. John Adams expected that this economic depression may last for three years and create an impact on social dislocation, the devastation of domestic economy and restructuring of the economy. Many institutions may bankrupt and Australia may need global intervention to secure the economy again.

Dailytelegraph.com.au. (2017). An economic crisis is on its way. Available at: [Accessed on 13 Sep. 2017].

References

ABC News. (2017). Japan to consider law backing commercial whaling. Available at: [Accessed on 13 Sep. 2017].

ABC News. (2017). China's exports continue to slow, but the domestic economy is holding up. Available at: [Accessed on 13 Sep. 2017].

ABC News. (2017). New political donations data maps industries' web of influence. Available at: [Accessed on 13 Sep. 2017].

Bramston, T. and Bramston, T. (2017). ‘Liberal economics had its day’. Theaustralian.com.au. Available at: [Accessed on 13 Sep. 2017].

Dailytelegraph.com.au. (2017). An economic crisis is on its way. Available at: [Accessed on 13 Sep. 2017].

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