The economy of Australia Research Paper Example | Topics and Well Written Essays - 500 words

The economy of Australia - Research Paper Example Average family income is in the range of 55,000 USD annually, though differing drastically depending on which part of the country the person lives in. Australia has a relatively even distribution of wealth amongst its population. The GINI index, which is a measure of wealth disparities in a country, gives Australia a score of 30.5, only .1 above the European union, and 112th largest score in the world (in the GINI index a lower score means better or more even distribution of wealth). For comparison, Sweden, with the best GINI score has a 23, while America, with a terrible score for a developed country, has a score of 45 (CIA). Australia, as a country the size of a continent (it is the 6th largest country in the world) has a wide variety of natural resources including coal, iron, precious metals, diamonds, rare earth elements, natural gas and petroleum (CIA). IT is the largest net exporter of coal in the world, and accounts for 29% of global coal exports (CIA). Australia has highly developed transportation and communication infrastructure, with wide access to high speed internet and public transpiration in cities (CIA). Its primary mode of public transpiration is bus (CIA). Its infrastructure is much worse in rural regions, which have access issues. Australia has very strict and well adhered to employee protection laws, with only a very few countries having better (Global Edge). It has much more protection for long term than temporary workers, however, and this causes the perception of abuse amongst temporary and immigrants workers, usually from other pacific Islands (Global Edge). Salaray and benefits vary highly depending on employment sector, though public health care is less accessible than almost any other developed country, not being government funded (Global Edge). Australia’s principle industry is service, like most developed countries, though this is supplemented by mining, equipment manufacturing and steel foundering. Foreign