MEDIA ARTICLE ANALYSIS

  • Category:
    Business
  • Document type:
    Assignment
  • Level:
    High School
  • Page:
    2
  • Words:
    1129

What is the article about?

The article by the ABC News “Australia and UK take first step to post-Brexit free trade deal, but final agreement could take years” is about the future FTA (free trade agreement) between UK and Australia once they fall out of the European Union. The article also outlines the pressure exerted on Britain so as to facilitate and create confidence on future trade dealings and agreements. According to this article, it may take long to materialise these free trade agreements since Britain had its initial free trade dealsdone by EU negotiators.

On the other hand, the SBS News article on “British PM closer ties with Aust” is about the future plans between Britain and Australia on free trade dealings. The article focuses much on the economic and trade impacts of exit of UK from the EU on Australia. The Prime Minister Turnbull asserts efforts invested by Britain in engaging in enormous new free trade agreements and Australia is on top of the list. In addition, the article overtly suggests that potential deals be scrutinised by making trade negotiations public, as the Greens wish.

Who is it written by/for?

The firs article published by ABC news is written by Steve Cannane while the SBS news is written by SBS News. This article is written for those people who are interested in economic matters of Australia and its international dealings. It is significant to acknowledge the name of author of a given news article because credit of authorship conferred toan author has social, economic and academic implications. IN addition, the articletargets a particular audience in the dominion of news segments. People have different interests as far as news articles are concerned. Whilst a huge proportion goes for political and sports news, some will spend much time on business and finance news. Therefore, it is crucial as an author toidentify the targeted audience and their preferences.

Who is the Publisher?

The article “Australia and UK take first step to post-Brexit free trade deal, but final agreement could take years” is published by Australian Broadcasting Corporation(ABC). The other article “British PM closer ties with Aust” is published by Special Broadcasting Service (SBS).It is significant to acknowledge publishers of articles in order to understand the reliability of information being conveyed to the public. Publishers may or may not have interest in the information they convey depending on their political, social and economic reasons.

What are some of the underlying assumptions, values, and ideologies found in the article?

This articles shows the value of international cooperation where nations work together through platforms such as free trade deals. In addition, the free trade deal between Australia and UK is a symbol of political economics since the members of the state are the major participants in this deal. As a major manifestation of globalism, free trade area negotiations have been observed in many instances between Australia and other nations. This is one of the features of a capitalist nation since countries like Australia and UK enter into free trade agreements in order to expand their economy as the main objective by regulating the market and government playing its distinct role. Therefore, government is seen as the protector of the economy and facilitator of economic growth and development.

Why did you choose this article? What concepts does this article demonstrate?

I chose this article because it encompasses vital information regarding activities our government is engaging in for the benefit of its people and the economy of the nation of Australia also chose this article because this segment of Australian news is my area of interest and relevant to this study and the article itself is from a reliable news broadcaster.

This article demonstrates a couple of concepts that include capitalism, globalisation,liberalism, interventionism, utilitarianism and international trade. To start with, capitalism refers to system of the better part of production of goods and services is carried out by the private sectors and not the government (Merrill, 2014). While we appreciate this, Capitalism is seen in Australia and UN since these governments only engage in free trade agreements in order to facilitate exports and imports activities to ensure a balance of trade between them is sustainable. By doing this, the two governments are not engaging in production of goods and services, there main role is to create an enabling environment for the private sectors to enable them export surplus to UK and other countries. Moreover, liberalism is demonstrated in this article. It is obvious that capitalists will always provide a liberal market situation. This is to mean the market is left to be controlled by market forces and conditions in order to drive the economy and minimum government intervention is observed (Hall, Massey & Rustin, 2013). In aliberal market, there is not too much government intervention. This is according to the neo-liberalists. Globalisation is also another concept that is demonstrated in these two articles. It is through globalisation that intergovernmentalbilateral and multilateral partnershipsand trade agreements are pursued (Anderson & Yotov, 2016). This is so as to improve production and foster economic growth and development of countries. The concept of interventionism describes the role of government in protecting and driving the economy. Through such trade agreements, the government protects the interest of the firms at home. Utilitarianism is where people or a country does something in order to pursue its own interest (Brady, 2016). Therefore, the government of UK and Australia may be planning to enter into free trade agreements so as to benefit individual countries even if others may not benefit from their bilateral dealings.Lastly, the concept of international trade is demonstrated in the two articles. International trade is trade between or among countries. Its main importance is creating employment, expanding markets and facilitating exports and imports on the basis of comparative advantage (Costinot, Donaldson, Vogel & Werning, 2013). There has been bilateral trade between Australia and UK and that is why they are planning to enterinto free trade agreement.

References

Anderson, J. E., & Yotov, Y. V. (2016). Terms of trade and global efficiency effects of free trade agreements, 1990–2002. Journal of International Economics99, 279-298.

Brady, M. E. (2016). A Rationale Supporting a Decision by Pope Francis and the Arch Bishop of Canterbury to Remove All Economic Advisors from Any Advisory Role Concerning Church Proclamations on Income Inequality, Unemployment and Social Justice:“Economics” is Not a Positive Science, But an Ethical System Based on Benthamite Utilitarianism. Unemployment and Social Justice:“Economics” is Not a Positive Science, But an Ethical System Based on Benthamite Utilitarianism (July 3, 2016).

Costinot, A., Donaldson, D., Vogel, J., & Werning, I. (2013). DP9765 Comparative Advantage and Optimal Trade Policy.

Hall, S., Massey, D., & Rustin, M. (2013). After neoliberalism: analysing the present. Soundings,53(53), 8-22.

Merrill, M. (2014). How Capitalism Got Its Name. Dissent61(4), 87-92.

News Articles