Trading in between different provinces has been in practice since long time. The present research study tries to find out the effect of GDP growth rate fluctuation and fiscal policy of the continents Asia and Australia, effects on the trading relations in between them. It has been seen that continents trade in between themselves in order to acquire differentiated products and services from one another. Through this study, the researcher had tried to find out the factors that have urged the need of trading relations in between these two continents. Trade and business relations in between countries and continents are a very common goal of prospect. People from different places and areas tend to build up trade relations in between them and earn profit. Asia and Australia being to separate and unique entities have a strong trade relationship.
Through the conduction of the research study, the researcher wants to highlight the importance of gross domestic product and fiscal policies in the genre of establishing trade relations with other domains. In this research study, the researcher has chosen Asia and Australia, and how their respective gross domestic product, growth rate and fiscal policies taken up by the government with an aim of establishment of foster trading relations in between them. The study also emphasises the importance of forming influential fiscal policies for the attainment of esteemed goal set up by a domain.
Trade and commerce had always been the most affable means of entering a new domain to accumulate certain commodities and services that are deficient in one’s own place. It not only is a mean of acquiring products from a different province, but also assisted in earning profit to both the parties. Overseas trading is not a new concept, it has been in use since many past decades, the matter of fact is that trading relations and purposes have been diversified and given more importance. In the present times, trade and commerce has become one of the major parts that encourage determining the economic status of a country. In addition to the economic components, such private consumption, gross investment, government investment, import, export that comprises of the gross domestic product (GDP) and gross net product (GNP) etc.; moreover, implementation of laws or Fiscal Policies that are taken up by a country in order to enhance trade and business among the continents has also seen a stark growth.
The following research study deals with the different aspects on which world trade depends upon. Special influence has been given on the trade relationship in between the two continents – Asia and Australia. The study is specifically based on the changes that are identified due to the fluctuation in the GDP growth rate and the Fiscal Policies of the continents.
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