The impact of globalization on vocational education and training (VET) in Australia was examined through a literature review. Special attention was paid to the following topics: the growing export orientation in Australian industry (industrial growth in Australia's economy, growth in Australian exports, "knowledge intensity" in the manufacturing sector, exports and their impact on employment, significance of foreign direct investment, impact of Australian firms investing abroad, Australia's need for investment); debates about globalization (globalization and distribution of wealth, employment, and change; International Forum on Globalisation; potential benefits of globalization; ideology and globalization; foreign investment and innovation); and implications of globalization for VET (communication evolution and information-based economies; implications of information technology for VET; internationalization of the curriculum; knowledge, skills, and attitudes required by globalization; staff development to address internationalization). Key study findings include the following: VET must contribute constructively to the debate regarding globalization's positive and negative aspects; VET must accommodate the global context in which the world of work now operates; VET must increase its flexibility and development goals and implement strategies that fulfill its clients' needs; and VET teachers/trainers need initial and recurrent professional development to equip them to perform successfully within the global context. (Contains 145 references and 10 tables.) (MN)