Commonwealth of Australia
The Commonwealth of Australia is a sovereign country comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands. Covering an area of approximately 7,688,287 square kilometers (2,968,464 square miles), Australia is the sixth-largest country in the world and the largest in Oceania.
Historical Formation
The roots of Australia's political structure trace back to its colonial past. By the mid-19th century, European settlers had explored most of the continent, leading to the establishment of self-governing British colonies. These included New South Wales, Victoria, Queensland, South Australia, and Western Australia, each gaining responsible government by 1890. The process of federation culminated in 1901 when these colonies united to form the Commonwealth of Australia.
Government Structure
Australia operates under a federal parliamentary constitutional monarchy. This structure consists of the Parliament of Australia, officially known as the Parliament of the Commonwealth, which is the federal legislature. The Prime Minister of Australia serves as the head of government, while the Governor-General of Australia represents the monarch at the federal level. The foundation of legal governance is encapsulated in the Constitution of Australia.
National Symbolism
The national symbols of Australia include the Coat of Arms of Australia, officially the Commonwealth Coat of Arms. This symbol features a shield containing badges of the six states, supported by a kangaroo and an emu, under a crest of a golden star.
Economic and Military Influence
Australia is characterized as a middle power on the global stage. It boasts the world's thirteenth-highest military expenditure and is involved in numerous international organizations, including the United Nations, the G20, the Organisation for Economic Co-operation and Development, the World Trade Organization, and the Commonwealth of Nations.
Banking and Finance
In the financial domain, the Commonwealth Bank of Australia stands as one of the prominent banking institutions. Known colloquially as CommBank, it serves as a multinational bank with operations spanning various countries.