UK and Australia Country Project part 2 Mathematics & Economics Essay

I.Trade in G&S (by 10/26)
A.Globalization of trade. (Jennifer Xu)
* Pugel includes a table on p. 19 (reproduced here) showing that trade has increased for his sample countries. How large was trading as a percentage of GDP for your country a few decades ago? In the most recent year for which data are available？
About ten years ago, Australia had a GDP of 1.397 trillion United States dollars. In 2018, Australia had a GDP of Australia was recorded at 1.434 trillion United States dollars. The country has continued to grow and has a strong economy. The GDP has grown continuously since 2011, which can be attributed to a favorable business environment that enhances trade with its partners.[Data Commons. Australia. n.d. October 26, 2020, .]
B.Transportation.(Vivian mou)
* How are most of your country's trade conducted (road, rail, water)?
As one of the world's largest countries, Australia keeps staying active in international trade and improving its business development, and transportation plays an unparalleled role in maintaining Australia not being isolated from other countries. Australia has all different ways of transportation, including air, road, rail, and waterway. Since Australia's unique geographical location, it has to enhance and improve its transportation to receive better technology and goods from other countries or export goods to gain economic profit. Since Australia has a long history of shipbuilding, transportation on water is like its symbol, and the technology keeps upgrading, which makes waterways a reliable way for transportation. Also, rail is critical in Australia, especially for internal transportation of trade. Rail helps Australia reduce its transportation cost and increases efficiency and environmental benefits. Besides, the flight is also essential for daily uses, and business uses.[Austrade < /International/Buy/Australian-industry-capabilities/transport>.]
* Have there been significant changes over the last several decades in how trade is conducted?
Shipbuilding is one of the most important industries in Australia since ancient times because Australia used to rely on water for transportation heavily. To make water transportation more convenient and cheaper, Australia keeps developing new techniques and skills, so its ship manufacturing industry is still advanced and reliable in the international market until now. In the last several decades, Australia has developed its rail and turned it into the world's sixth most extensive network. Rail contributes over $26 billion to its national economy and is at the forefront of innovation, productivity, and the world's best practice, making rail an integral component of the total logistics supply chain in Australia now. Additionally, Australia has well-known expertise and skills in aviation, especially in airport infrastructure and aerospace technology. This achievement makes aviation perfectly merge with people’s daily life and business usages.[Australian industry capabilities. .]
* Have there been any significant upgrades to transportation facilities used for international trade that have reduced transportation costs?
Australia is a country that is famous for its goods and services industry, and it never stops adopting the...