Australia's Foreign Economic Policy: problems and prospects of development

In the modern world, it is almost impossible for a country's national economy to abstract and develop without any interaction with other countries. Carrying out an effective foreign economic policy, taking into account all possible risks, gives a noticeable advantage and an impetus for significant growth of the national economy. In today's rapidly changing world, the foreign economic policy of the state, aggregating various factors, is becoming more significant and influential, capable of changing the internal economic policy and the structure of the country. To study the peculiarities of the foreign economic policy of the state, the foreign economic policy of Australia was chosen. Australia is of particular interest to study, because being geographically remote from other countries and their interaction, it conducts a fairly successful foreign economic policy. The relevance of the study also consists in studying the experience of Australia in terms of using the rich resource potential to stimulate scientific, technological and innovative development. The purpose of the study is to determine the main patterns of Australia's foreign economic activity and identify areas for its improvement in the face of economic and geopolitical threats. In the course of the research, such methods as analysis, synthesis, comparison, generalization, modeling, induction, deduction were used. Methods of scientific cognition, general scientific approaches and special economic methods were used, including statistical research methods and econometric modeling. The theoretical significance of the work consists in the generalization and systematization of existing approaches to the formation and implementation of foreign economic policy. The practical significance of the work lies in the possibility of using the results obtained in the practice of forming the foreign economic policy of Australia and Russia. ​