Canada’s Globalization and Its Positive and Negative Effects on Economy
Globalization is the spreading of technology, information, products, services, and jobs across various cultures and borders. Due to globalization, a competitive edge is gained by developed countries (Leblang). developing countries attract more jobs and are cost-effective. Globalization has given several economic advantages to Canada. Recently international integration was agreed upon. Canada has the second-longest enlargement in its history (Leblang). That is categorized by employment surging, real income rises, low stability, and predictable inflation. (Watson). Canada, most of the economic sector depends on imports and exports from other nations, which helps make cheaper goods, Canada immigration helps in a uniquely diverse culture. Australian citizens generations have seen and experienced changes in Australian society year by year. Globalization is one of the major factors that help revolution continuously change in Australia. In the 1980s beginning, Australia boarded on the most important reforms ever seen in the advanced country (Watson). Globalization strengthens the economic condition in Australia, and it improves the efficiency of the market with advanced infrastructure, health care, and education. Australia is closer to the rest of the population due to globalization. One of the major effects of Australia is multiculturalism, and the country still faces experiences of music, food, and customs from the rest of the world. This essay further sheds light on the information about globalization’s impact on Canada and Australia.
Canada is considered one of the universal integrated nations worldwide, and they have an extremely unconventional system of information technology and communication. The Canadian government is very dynamic in the international organization (Dalby). Most economies depend on trade, continuously population is travelling in a foreign country, and individuals are composed of society from numerous cultural backgrounds. (Dalby). The impact of globalization on Canada has both positive and negative aspects on their economy. Research shows that 89 % of people think that technology is good for spending their lives, 76 % think it is used for their economic well-being, and 62% think it does not affect the economy (Jaworski). Almost two-thirds of the people in Canada alleged that people’s living standards improved due to globalization. There are very few people who think that diversification is not needed for the nation’s economic well-being. The majority of the generations think that globalization has helped and is more favourable for lower-income class people, but lower-class people disagree with this statement. Advancement in technology is directly related to the future of the economy. Internet and technology improvements have a positive effect on the Canadian economy. Due to globalization, three out of four people think that trading impacted the Canadian economy positively (Salari).
According to the report of Bruce Anderson: the behaviour of Canadian people is different from those who raise their economic politics in the US. Compared with globalization and trade agreements with other nations, Canadian people who have different opinions are also united. The big upside down in the Canadian technology revolution has changed the world’s economy (Salari).
Canada is one of the most worldwide interconnected countries that have high-class communication resources and technology system, and the government is varied participative in global organizations, that have travelling like people, trade-dependent economy, etc. exchange of knowledge as well as international investment and trade and technology, all becomes the part of the economy (Patrick). 1947, GATT was originally signed for the betterment of cross-border trade. IMF and the world bank support this policy. According to the theory of Marshall McLuhan, due to advancement and technological changes, Canada has expanded its cultural sphere. All sources of entertainment like films and music are available globally, food points are expanding globally, and styles and clothing brands are reached in every part of the world. Since the 17th-century economies of Canada have been heavily dependent on external markets, international trade, and capital. Canada received capital from imperial countries, and its economies were colonial (Sunday). It’s export and import are mainly dependent on natural resources and manufactured goods. In the 19th century, Canadian change from colonial to continental. Industries in Canada quickly increase their outsourcing and offshoring from 1961 to 2003. This creates a big shift in the offshoring rates of the industries. Industries in Canada purchased many services and products from outside, which shifted the trend of offshoring. Canadian has diversified trade since 2007, and the government is continuing with several initiatives (Sunday). 2012 budget shows that it wants to expand its trade with China and negotiate trade with trans-pacific partners like the European Union and India (Crosbie). For many years, Canada has been facing transportation issues containing evolving demography, a reliant trade economy, and an urbanized population. Canadian transport improves the safety, efficiency, and sustainability of national transportation. The canal plays an important role and contributes to the world’s economy. In this way, Canada has various effects of globalization in their country and manages all this for their peoples’ goodwill (Crosbie).
Technology Revolution and Its Impact on Canadian Economy
The political impacts of globalization in Australia have a positive effect on Australia. The supreme effect it has had is on nations and islands that need aid after natural calamities. The government of Australia’s aid program mainly focuses on economic development, justice and law, and advancement delivery service for nations that need it (Lingard). Samoan government improves teaching and education with the help of the Australian government. Australia has also signed trade free agreement with China. In 2013, China spent $9 billion and bought most of Australia’s agricultural products. That agreement gives many advantages to Australia over its competitors, and within 4-11 years, there are no price lists on numerous products and foods like live animal products and dairy. It will directly affect health, tourism, telecommunication, education, and financial services (Burgmann).
The social impact of globalization in Australia is considered positive. Due to globalization, Australia has come closer to the rest of the world. America has influenced the society of Australia since World War II. This has many negative effects on the people because the nation’s identity is overviewed by American representation. Multiculturalism made Australia knowledgeable of various cultures and diversified its reach. One in six individuals working in the medical sector is born outside. It brings skills but also brings challenges. Because the language barrier is difficult for patients, in some cases, people refuse to take a treat from foreign doctors. The economic impact of globalization is intermediate in Australia (Findlay).
Australia exports its natural resources at a market value of over 6.5 billion people. These resources are; iron, wool, beef, and uranium. Coal, and rice, all make up 50% of exports. Australia’s natural resources and minerals exports have risen by 32 %. Australia’s car manufacturing is declining quickly, and Holden GM stopped its manufacturing operation in Australia. More than 3000 jobs are lost due to this pull-out. Ford manufacturing also stopped in Australia, and production costs and, high dollar; insignificant markets are blamed (Conley). The environmental impacts of globalization are significantly negative in Australia. Environmental pollution increases daily due to increased production, and manufacturing factories release greenhouse gas emissions into the air. The greenhouse gases in Australia are the worst in the whole world. Primary industries like mining and agriculture also harm the environment. Water usage is increased due to globalization because of shipping products worldwide and touring and migrating. This activity adds pollution to the water, thus polluting oceans worldwide (Palley).
Globalization is a process in which all peoples face increasing social, economic, and cultural environments. In different social groups, people develop and live their lives. Different nations and groups define the characteristics of human society. From the 20th to 21 centuries, people started founding themselves in a globalized society affected by cultural, social, and environmental aspects. People need a supportive atmosphere where they express their views and thoughts. Globalization has shaped and the advanced Canadian economy in numerous ways. Globalization’s political, economic, environmental, and social effect is primarily positive in Australia.
References
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