Barriers to trade between countries have reduced through the general Agreement on Tariffs and Trade (GATT) and the World Trade Organisation (WTO). The nature of trade between businesses is also changing dramatically through developments in Information Technology but also due to adoption of quality assurance and new approaches to supply chain management. The impacts of this "New Economy" vary around the world. This paper considers the implications of these developments for Australian farmers. Whilst these changes can be regarded as generally advantageous to Australian farmers, they may be disadvantaged in some areas because of the relatively small size of the Australian farming sector, its geographical dispersion, the advent of a range of new technologies and the structure of agribusinesses. The potential changes to the nature of farming and farm management skills are discussed.