Assessment Description You are expected to find a “current news/business article” of approximately XXXXXXXXXXwords related to a current international business issue (that might include topics such as:...

ARTICLE ANALYSIS
Table of Contents
Introduction    3
Summary of the Article    3
Evidence the Article Puts Forward    5
Relationship of the Current Issue with the Key Theories of International Business and the Global Monetary Environment    7
Conclusion    8
References    9
Introduction
Analyzing an article associated with international business issues helps to develop a better understanding of the changing business environment all across the globe. A detailed analysis of article might assist in understanding the trade ties between different countries and how the changing situations between countries can hamper their international trade relationships. Moreover, the insights gained from the analysis of this particular article will help to develop a better understanding of international business theories and global monetary environment. The implications of the international business ties between two countries can easily be understood on analyzing this article.
Summary of the Article
The article titled “Australian farmers call for separation between foreign relations and trade ties with China”, discusses the impact of the rising tensions with China on exports particularly on the agriculture industry. The article highlights the fact that agricultural business leaders are worried about the tensions between China and Australia. These tensions may lead to separation of two powers and the foreign relations and trade ties of Australia with China may be hampered adversely. Mark Allison, who is the chief executive of Elders, which is an agribusiness giant is of the opinion that trade is being used as a weapon for foreign affairs. He believes that the relations between the Chinese and Australian companies should flourish despite of the problems being faced.
After the release of the State of the Industry Report by Agribusiness Australia, a body representing the agricultural companies of the country it is evident that the Australian agriculture industry will fall short of $12bn of the target it has set to be achieved by 2030. It is also expected that agriculture industry will suffer a shortage of $100bn in its production value by 2030. In order to reach the set target, it is expected that the Australian Agriculture industry must grow by 4% every year (The Guardian, 2020). However, at the current volume trend and the rising tensions between China and Australia achieving target may not be possible. It has been clearly mentioned in the report that the agricultural sector will need to revamp its operations. In order to optimize the operations of this sector, it is essential that the $100 bn target of the farmgate revenue must be shifted to $300 bn target of the value that might be created across the entire supply chain.
As mentioned in the article, the operations of the agriculture industry of Australia can be optimized by embracing different factors associated with environment, society and the government. After gaining insight into the content mentioned in the article, it is evident that substantial changes need to be made to the supply chain to ensure sustainability of the agribusiness. Sustainability in water stewardship will help the agricultural industry of Australia to attract investors from different other countries as well. Targeting the European market can be beneficial as they value the sustainable produces. Maintain good relations with other countries is extremely important to maintain the international business ties between different countries so that the countries in a business alliance could be benefitted out of it.
It can be inferred that depending solely on few countries and regions for trade may not serve the purpose and the rising tensions among China and Australia or between china and other nations of the world are going to add to the problem further. Therefore, a need for diversification is quite evident. It is essential that the agriculture industry of Australia shall expand enough to reach out to different markets across the globe. This expansion shall bring several opportunities for the agriculture industry of Australia to harness the global free trade agreements. These free trade agreements will help the Australian agriculture industry to explore the economic potential of the home country as well as other countries with whom Australia might agree to perform international trade or business. Australia must also focus on its...