Impact of Globalization on Canada
Added on 2023-01-18
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Running head: IMPACT OF GLOBALIZATION ON CANADA
Impact of globalization on Canada
Name of the student
Name of the university
Student ID
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Impact of globalization on Canada
Name of the student
Name of the university
Student ID
Author notes
IMPACT OF GLOBALIZATION ON CANADA
Introduction:
The current paper seeks to address the impact of globalization on the economy of
Canada and its foreign trade as a whole. In addition to this, the report has also the objective of
evaluating the impact on globalization on international students of Canada. Globalization can
be described as growing interdependencies of economies of world with increasing integration
and interaction among the people and economy (Bende-Nabende, 2017). The retreat of
globalization is some of the prominent development and Canada is considered as one of the
most globally interconnected country having high class of communication resources,
technology and trade depending economy. In light of these attributes of the country,
globalization has numerous impacts on the development of China.
Discussion:
Evaluating the impact of globalization on economy of Canada:
For Canada, globalization comes with numerous economic benefits. In the history of
nation, the international integration in the recent times is considered as the second largest
expansion. With the globalization, economy of Canada is characterized by globally high rate
of investment and international trade. In addition to this, advance technology and knowledge
became a part of economy. The decision concerning the political scenario of the country is
also influenced by the growing number of international agreement and trade due to
globalization. The outsourcing and offshoring by Canadian industries increased rapidly due to
global integration. The trend of off shoring shifted because a high number of services and
products were purchased by Canadian industries from the outside countries. Furthermore, the
economy of Canada is becoming increasingly oriented to high end services. It has been
ascertained by the survey that the volume of business investment increased by 8% since year
2002 (Stein & de Andreotti, 2016). The employment in goods producing sector has raised
Introduction:
The current paper seeks to address the impact of globalization on the economy of
Canada and its foreign trade as a whole. In addition to this, the report has also the objective of
evaluating the impact on globalization on international students of Canada. Globalization can
be described as growing interdependencies of economies of world with increasing integration
and interaction among the people and economy (Bende-Nabende, 2017). The retreat of
globalization is some of the prominent development and Canada is considered as one of the
most globally interconnected country having high class of communication resources,
technology and trade depending economy. In light of these attributes of the country,
globalization has numerous impacts on the development of China.
Discussion:
Evaluating the impact of globalization on economy of Canada:
For Canada, globalization comes with numerous economic benefits. In the history of
nation, the international integration in the recent times is considered as the second largest
expansion. With the globalization, economy of Canada is characterized by globally high rate
of investment and international trade. In addition to this, advance technology and knowledge
became a part of economy. The decision concerning the political scenario of the country is
also influenced by the growing number of international agreement and trade due to
globalization. The outsourcing and offshoring by Canadian industries increased rapidly due to
global integration. The trend of off shoring shifted because a high number of services and
products were purchased by Canadian industries from the outside countries. Furthermore, the
economy of Canada is becoming increasingly oriented to high end services. It has been
ascertained by the survey that the volume of business investment increased by 8% since year
2002 (Stein & de Andreotti, 2016). The employment in goods producing sector has raised
IMPACT OF GLOBALIZATION ON CANADA
compared to manufacturing sector where employment has fallen since 2002. However, there
labor income ratio to gross domestic product has declined due to change in technology and its
rapid advancement. Nevertheless, the string employment growth in the country has resulted
in continuous rise in labor income of Canada. The increasing economic ties between China
and Canada have resulted in increasing imports and exports. In the face of global forces,
inflation in the country is regarded as the function of monetary policy effectiveness. The
economic context of Canada fundamentally changed because of Free trade agreement
because several barriers to the enterprise were reduced and it expanded in other international
markets.
Globalization is the result of great changes in political, technological, economic and
social areas. It is known to revive the capital flows, investment, trade and movement of labor
force between the countries. The foreign trade and direct investment also help the developing
countries to confront the international competition by boosting their economy, exporting
capacity and increasing productivity (Bende-Nabende, 2017). In the globalization cycle, the
multinational companies and the economic integrations known to be quite effective in the
world economy by creating competition between the countries.
Evaluating the impact of globalization on foreign trade:
The opening of borders has resulted in increasing vigorous competition that comes
with increasing productivity and spurring innovation. The increase in productivity made the
high-quality products available at lower price and greater economic efficiency. However, it is
required to make adjustment to new dynamics due to intense global competition.
The foreign trade of Canada has diversified and the trend of diversification was
continued by the trade policy of country. It was indicated by the budget of year 2012 that the
country intended to expand its trade with China and entered into trade negotiation with the
compared to manufacturing sector where employment has fallen since 2002. However, there
labor income ratio to gross domestic product has declined due to change in technology and its
rapid advancement. Nevertheless, the string employment growth in the country has resulted
in continuous rise in labor income of Canada. The increasing economic ties between China
and Canada have resulted in increasing imports and exports. In the face of global forces,
inflation in the country is regarded as the function of monetary policy effectiveness. The
economic context of Canada fundamentally changed because of Free trade agreement
because several barriers to the enterprise were reduced and it expanded in other international
markets.
Globalization is the result of great changes in political, technological, economic and
social areas. It is known to revive the capital flows, investment, trade and movement of labor
force between the countries. The foreign trade and direct investment also help the developing
countries to confront the international competition by boosting their economy, exporting
capacity and increasing productivity (Bende-Nabende, 2017). In the globalization cycle, the
multinational companies and the economic integrations known to be quite effective in the
world economy by creating competition between the countries.
Evaluating the impact of globalization on foreign trade:
The opening of borders has resulted in increasing vigorous competition that comes
with increasing productivity and spurring innovation. The increase in productivity made the
high-quality products available at lower price and greater economic efficiency. However, it is
required to make adjustment to new dynamics due to intense global competition.
The foreign trade of Canada has diversified and the trend of diversification was
continued by the trade policy of country. It was indicated by the budget of year 2012 that the
country intended to expand its trade with China and entered into trade negotiation with the
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