The study of the Western Hemisphere is essential for an understanding of the relationships between regions and nation states in a globalised world. The United States remains the dominant economic, political and cultural nation state in the world today, but other nations of the region, including those of Mesoamerica and South America are growing in importance. Brazil, for example, is counted amongst the BRICs (emerging economic economies - Brazil, Russia, India, China), and is currently pushing to secure a permanent seat on the UN Security Council. Australia's links with the US are well known, but Australian government and businesses are also increasing their relationship with the Latin American region, in part because of a coincidence of interests in terms of trade, investment, and resource extraction.

In 2004 the Australian government established the Council of Australia Latin American Relations, COALAR: http://www.dfat.gov.au/coalar/, and there is a very active Australia-Latin America Business Council ALABC: http://www.alabc.com.au. Australia and the Latin American countries are also becoming more closely linked with the Asian economies. Moreover, there are parallels to be drawn between the experiences of the Western Hemisphere and of Australia as both constitute areas of recent settlement. Similarities include the form of economic development, immigration, and the displacement of indigenous populations. Many former and present citizens of the Western Hemisphere also, now, 'call Australia home'.