we are now very much connected!

There can be no question, we live in a global economy.

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Global Economic Blog

There can be no question, we live in a global economy. For centuries, since the early exploration eras, countries have sought to connect with others. For trade, settlement, invasion and unfortunately in too many cases, for conflict. The result is, we are now very much connected – in sharing information, through trade links, travel, multi-national corporations with international locations – and with the continued expansion of technology, those connections are facilitated faster than ever before and on an increasingly personal level.

The impacts of these connections is not always wanted or warranted. A disagreement between oil-producing nations on the other side of the world causes our prices at the pump to rise or fall. Fluctuations on the US share market causes our superannuation, investment and retirement funds to react, often for the worst. A virus which started in China spreads globally and causes death to many people in many countries and pushes economies to the brink.

Global financial crisis, global trade wars, global pandemic are terms we have come to know only too well. But are they terms we fully understand? Do we have a clear perspective of how they impact us?

In our blog site we are addressing national health policy on a number of levels: the health of nations and the national approach to the health of populations.

Global Health Care

The coronavirus pandemic spread rapidly across the globe, catching many countries off-guard, unprepared and exposed greatly to the effects. Financial support had to be found and provided to health systems in order to cope with the crisis. We explore how health budgets were impacted by COVID-19.

Education

Education at primary, secondary and tertiary levels was firmly in the spotlight with the coronavirus crisis. As mass gatherings and possible virus transmission points but also as a valuable export and source of revenue in Australia. Some of the changes implemented during the coronavirus crisis are set to create new opportunities in education while the impact on universities from the international students issue will likely be felt for some time.

COVID-19 Economic Response: Australia

The national health of Australians and the health of the Australian economy were high priorities to the Australian Government from the outset. The quick response across many fronts has been admired by other countries and the financial support appreciated by many sectors of Australian business.

COVID-19 Economic Response: USA

While President Trump constantly claimed that his response to COVID-19 had been ‘one of the best in the world’, many in the rest of the world and within the USA begged to differ. The USA was without doubt slow to respond to coronavirus on a health level and was then forced to spend big dollars on supplies for the health system.

COVID-19 Economic Response: Europe

A telling factor of Europe’s economic response to COVID-19 was when the head of the EU apologised to Italy and Spain, the countries with the highest death tolls in Europe, for being too slow to respond with economic aid. The UK was also criticised as perhaps being too slow to react.

COVID-19 Economic Response: China

In the first quarter 2020, China’s growth figures on seasonally adjusted figures contracted by 9.8%. The first negative growth figures for many years. Clearly a result of the coronavirus and China is likely to see further impacts as many countries look to ramping up their own manufacturing facilities to be less reliant on Chinese imports.