Type a new keyword(s) and press Enter to search

Globalization, NAFTA And Its Effect On Canada

 

            The coming together of nation, cultures, and economies is a global phenomenon known as globalization. Over the past decades nations have developed interdependences with one another in areas such as capital equipment, natural resources and labour. Globalization allows nations to have access to a wider range of goods and services. This ideology of interdependency may appear to be the perfect solution to wide global issues, however globalization may pose many debates such as supporting child labour, declines in home country production and wide spread Americanization. Critical pushes towards globalization are the many implementations of free trade agreements such as WTO, FTA and NAFTA. Canada's role with globalization began with the FTA (free trade among the Americas), then later evolved to NAFTA (North American Free Trade Agreement). Goals of NAFTA were such that trade barriers were to be eliminated and the elimination of tariff over a 10 year period. NAFTA certainly gave a push towards globalization where nations share resources where barriers to trade are eliminated. NAFTA has been very successful in stimulating trade in Canada where over the past years where there was always a favorable balance of trade. With the implementation of NAFTA free trade seems to be a step away; however we are far from that. Over the past years much trade and tariff disputes have arise involving the trading of softwood lumber, and other natural resources such as steel and wheat that have great effects on Canada's production and trade. These increases of economic globalization have also great impacts on Canada's economic and social policies.
             Free trade among North America was a way to stimulate trade while increasing production and resulting in a more prosperous economy. Over the twelve years Canada's trade sector has grew steadily, now 40% of Canada's export is its Gross Domestic Product. Even though Canada's trade is growing, its trade relations recede along with a growing number of trade disputes.


Essays Related to Globalization, NAFTA And Its Effect On Canada