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The economy of Oceania comprises more than 14 separate countries and their associated economies. On a total scale the region has approximately 35,834,670 inhabitants who are spread among 30,000 islands in the South Pacific bordered between Asia and the Americas. This region has a diverse mix of economies from the highly developed and globally competitive financial markets of Australia (1st) and New Zealand (2nd) boasting parity with much of Western Europe, to the much less developed economies that belong to many of their island neighbours.
As the worlds regions become increasingly interlinked to form trade blocs the future which entails Oceania could lead to either increased unity or separatism. Future issues such as Global Warming, the Kyoto Agreement, and the subsequent possibility of the Carbon Trade could increase the regions viability to become a more centralised region. Greater unity and therefore sustained prosperity among Oceanian countries could be achieved through increased co-operation between nation states Economically, Politically and Socially. The implementation of these factors could perhaps provide the region with a similar framework to the European Union in its most fundamental form. Perhaps the formation of a common currency in the South Pacific, similar to that in Europe may be the first step in the right direction. Many of the smaller Pacific nations rely on trade with Australia, New Zealand and the United States for exporting goods and for accessing other products.
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