This in turn makes life hard for manufacturers in the affected areas, especially when competing against international counterparts who might face better business conditions. If a trade partnership goes smoothly like this one has, it’s a great deal for everyone.īut this isn’t always the case and trade partnerships can fall apart quickly and dramatically. On the other hand, China supplies Australia with value-added goods like electronics, machinery and clothing. Australia is rich in agricultural products and strategic raw materials like iron, nickel and coal - all valuable to China’s industrial infrastructure. With CHAFTA, the advantages to both parties are clear. Such agreements are also meant to benefit all countries involved by creating greater economic opportunities for manufacturers, exporters and material suppliers. Let’s delve into three ways that manufacturing industries are being influenced by these factors and how the best global companies are responding to them.įree Trade Agreements such, as the CHAFTA legislation between China and Australia, help to create equal and open access to markets for the consumers in participating nations.
#EXAMPLES OF COST DRIVERS IN GLOBALIZATION FREE#
All global manufacturers, their supply chains and even end-users are impacted by free trade agreements, environmental issues and the demands of responsible sourcing. There are a range of influences on the manufacturing industry due to the effects of globalization.
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