Australian businesses have been radically affected by Australia's role in globalization. Many factors related to globalization have proven beneficial to the Australian economy. There are, however, significant factors. The reduction in asset protection has had a major impact on Australian businesses. Tariffs, quotas and subsidies are all forms of reduction that have been reduced on these products. Advances in technology and transportation have had a significant impact on the globalization of Australian businesses. Many forms of unemployment arise due to globalization and ultimately the loss of Australian industries. The consequences are not always negative, however; Australian citizens currently have access to a greater variety of goods than ever before. Since the 1950s, protection for industries such as textiles, footwear, clothing and automobiles has been quite high in Australia. While Australia was ruled by the Hawke-Keating government (between March 1983 and March 1996), globalization was brought to Australia's attention. The term globalization is defined as “the process...