Paris climate deal: Donald Trump withdraws US from the accord

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President Donald Trump has said he will withdraw from the Paris agreement, an international agreement which aims to fight climate change.

How does this relate to the HSC syllabus?

  • The Paris agreement is an international agreement which brings nations together to fight climate change. (HSC Topic 3)
    • This is an example of an initiative which may improve environmental sustainability. According to the United Nations Framework Convention on Climate Change, “The Paris Agreement’s central aim is to strengthen the global response to the threat of climate change by keeping a global temperature rise this century well below 2 degrees Celsius above pre-industrial levels and to pursue efforts to limit the temperature increase even further to 1.5 degrees Celsius.”
    • Because environmental sustainability is a global issue, international agreements are required to work together and solve the issue.
  • International environmental agreements typically involve the short-term sacrifice of economic growth.
    • There is a short-term trade-off between economic growth and environmental sustainability. This is because to achieve environmental sustainability, it means lowering production to lower resource usage and negative externalities, which typically lowers economic growth.
    • This is likely the reason Trump has withdrawn from the Paris agreement. As the US is one of the biggest polluters in the world, they would have more economic growth ‘to lose’ than the other countries.

Victoria's jobless rate stuck above 6 per cent despite jobs surge

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Over the 12 months to April, employment in Victoria grew by 115,600, yet the unemployment rate has remained high at 6.1 per cent.

How does this relate to the HSC syllabus?

  • The Australian Bureau of Statistics defines the unemployed to include persons 15 years and over who do not have a job, but are actively seeking one. The unemployment rate is defined as the percentage of the labour force (unemployed + employed) that is unemployed.
    • The reason for this apparent anomaly – strong jobs growth but a relatively high unemployment rate – has been a jump in the number of people previously "not in the labour force" who have started hunting for work.
  • This increase in participation rate, in turn, has been driven by an increasing number of women looking for work.
    • The participation rate for women has risen above 60 per cent.
    • This has been driven by increases in education levels, a shift from jobs in manufacturing to services, an increase in part time work, better parental leave and more flexible working arrangements.

Gary Liang GARY LIANG

Gary Liang is the founder and director of Keystone Education. He attended Sydney Boys High and achieved an ATAR of 99.95 in 2012. He achieved 5 state ranks in Mathematics, Mathematics Ext 1, Mathematics Ext 2, Chemistry and Economics. He is now studying Economics and Science (Advanced Mathematics) at the UNSW Australia, where he is the recipient of six scholarships. He has experience at a top tier investment bank.

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