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The emphasis in the economy is put on exporting commodities rather than manufacturing hi-tech goods. In lamen terms Australians sells stuff like wheat, food, milk, raw materiels(gold, copper, iron) rather than produce stuff like computer chips or phones. Australia's biggest trade partners are Japan, China, the US, South Korea, and New Zealand "cycle of trade" they buy raw materials from Australia and process it to make "usable goods" and in return Australia buys those manufactured goods. Although tourism, education, and financial services, accounts for 69% of GDP the trade of Australia's raw materials make the vast majority of its exports.
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What is trading settlement?
A community where people come to trade goods.
Laws that limit the amount of trading carried on among nations is called?
A trade barrier is a law that limits the amount of trading conducted among countries. A tariff would be a well-known example of a trade barrier.
Arabia's location made it important for what activity?
Trade between Europe and Asia.
Policy of trading with other countries is called?
The policy used in trading with other countries is called the commercial policy. It is a set of rules and regulations used in trade between nations.
How did british trade with china trigger the opium wars?
The Chinese government called on Britain to stop trading drugs when they outlawed opium. Britain would not cooperate, nor would it stop trading drugs. This led to the Opium War of 1839.
