well since it said assess, i tried to give a multifaceted argument and trying to fixate on how global and domestic factors work together.
i started with financial flows and explained how Australias a net importer of capital because of si gap (domestic reason) and mining boom (global reason) but then i explained wait mining boom fell and the superannuation sector grew so we were an exporter of equity to spread risk due to lack of global recessions and more opportunities overseas (global) and short term debt was falling, but l-t debt still rose because ags were a safe haven after the gfc (global reason) and i forgot what i wrote after that i think like 1/2 pages more maybe but i dont think i spoke much about the current high saving rate, if at all
then i spoke about trade which was pretty brief because i had like 8 minutes to do it, obv spoke about commodities and transition to a wider x base and stuff about the exchange rate aided it but at the end i realised forgot about trade agreements so i mentioned something about hollowing out of manufacturing and i really cant remember but maybe smth about departure of ford i really cant remember. i also had no conclusion
interesting. However, I believe it was talking about changes in the global economy.
So I think you had to link it to events like the US-CHINA trade war, Covid-19 recession and Mining Boom Mark II (Make that very clear - past 10 years).
So like:
China's imposition of tariffs on Australia = impact on Australia's trade volume
Recent trade agreements = shift in direction of financial flows (more east-asian economies) and volume
Recent Technological advancements = shift in composition of trade
idk
i'm saying events cause i did a q like changes in the global economy as practice and the teacher roasted me for not linking it to events. Hopefully you did that tho
