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International collaboration and globalization

When forming your policy recommendations, your Policy Brief needs to consider the ways that the Australian economy is part of the Asian-Pacific region and connected to the rest of the world. Your team is analysing the ways that all countries need to interact with each other for the purpose of elevating economic prosperity and overall wellbeing.

a) Provide an explanation of what is meant by the term ‘globalisation’ and explain how does globalisation contribute to improving people’s wellbeing? (2-3 sentences)

b) As the whole world looks for a road to recovery from the COVID-19 pandemic, give some examples of the ways that international collaboration and co-operation will be important for our recovery? In what ways might this international collaboration be under threat during the pandemic, and what policy arrangements and institutional settings can help to ensure that countries continue to co-operate with each other in the future? (2-3 sentences)

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