eco question (1 Viewer)

[wgy182]

Why has there been an increase in Australia's service exports in the last two decades?

 

[nexusbrah]

Depending what things you are talking about.

Education and Tourism allow Australia to have a comparative advantage (We are efficient and good at producing these)

 

[enigma_1]

^ Hence countries are more willing to buy our services. Also another factor - due to increased and efficient technology and economic integration.

 

[Kobweb]

You can talk about globalisation, increased ICT, comparative advantage, increased mobility of people around the world resulting in an increased number of tourists etc. With education and services (eg financial, technological, teaching etc), can say increased emphasis on specialisation and education through government programs (take a look at the gov Budget and you can draw on a multitude of policies). Can talk about closer ties with the Asian nations and reduction of trading blocs resulting in increased trade.

 

[wgy182]

Thankyou guys!
I have another question: " Analyse TWO possible economic consequences of foreign debt for an economy.
The question says " consequences" but can I say a positive effect like increased debt can cause economic growth and blah blah blah?

 

[wgy182]

Anyone?