Australia's Services Sector Is 70% of GDP

The video discusses the significance of the financial services sector in Australia's economy, highlighting its contribution to GDP and employment. It introduces the Asia region funds passport, aimed at facilitating cross-border investment. The video also covers Australia's efforts to reduce corporate tax rates to enhance competitiveness and explores trade relations with China. Finally, it addresses the ongoing debate between free trade and protectionism in the Asia Pacific region.

What percentage of Australia's GDP is represented by the financial services sector?

• 20%

• 5%

• 9%

• 15%

Which of the following countries is NOT mentioned as a participant in the Asia region funds passport?

• United States

• Japan

• New Zealand

• Thailand

What is the target corporate tax rate in Australia's 10-year enterprise tax plan?

• 20%

• 25%

• 30%

• 35%

How many full-time jobs were created in Australia in the last 12 months according to the transcript?

• 400,000

• 300,000

• 200,000

• 100,000

What is the main focus of Australia's trade policy according to the transcript?

• Reducing exports

• Increasing tariffs

• Encouraging open trade

• Promoting protectionism

Which country is highlighted as a significant investor in Australia?

• United States

• China

• India

• Germany

What is the Australian government's stance on trade agreements?

• They prefer bilateral agreements only.

• They are against any trade agreements.

• They focus solely on domestic trade.

• They support both bilateral and multilateral agreements.