Final answer:
Australia and New Zealand benefit from their historical ties to the UK and involvement in regional trading agreements, particularly the Commonwealth of Nations. Both countries have shifted their economic focus, with Japan being Australia's main trade partner and New Zealand embracing global market changes. They are also part of larger economic networks like the East Asian Community.
Step-by-step explanation:
Australia and New Zealand benefit economically from their historical ties to the United Kingdom and their membership in regional trading agreements such as the Commonwealth of Nations. Initially part of the British Empire, both countries developed their own systems of governance, with New Zealand becoming the first country to grant women the right to vote and Australia being settled as a prison colony.
While they maintain cultural and political ties to the UK, their economic engagements have shifted towards other global players. For instance, Japan has become Australia's biggest trading partner, and New Zealand has focused on transitioning to a more global economy, particularly through agricultural exports.
New Zealand's recognition of Maori rights and culture has become an integral part of its identity. In contrast, Australia and its Aboriginal people have had a different history of engagement, with the latter retreating into the vast continent before environmental and other factors brought them into increasing contact with the settlers. Both countries are not as close geographically to the European Union but are part of the growing economic networks among nations, such as the East Asian Community.