Globalization can be simply defined as one big global economy, making international trades (import and export) easier. With a bigger marketplace, product demands are bigger, which means more business opportunities, and it helps exported nations to boost their productivities and as well as employment rates. Thus, poverty may be cut because of globalization. However, alongside with more demands, competitors increased too. Increased competition from globalization helps stimulate innovation (to products or services), which helps improve a better lifestyle globally.
Trade agreements are when two or more nations agree on the terms of trade between them. They determine the tariffs and duties that countries impose on imports and exports. All trade agreements …show more content…
For example, although many develop countries’ standard of living has gone down because of globalization, the flip side to this is that hundreds of thousands of people around the world now have jobs. Which lead to an increase in employment rate globally.
NAFTA lowered prices in both goods and services for Canadians, because it got rid of tariffs between the countries. This decreases reliance on oil. Food can also be transported for lower costs, reducing grocery bills. Costs are lowered for farm products, too. NAFTA also help to increased higher wages in several careers in Canada, such as engineering, education and, etc. Moreover, it creates more trade opportunities in Canada and leads to an increase in productivity gradually.
However, with the introducing of NAFTA, led to a dramatic amount of jobs lost in manufacturing industries in Canada which include automotive, textile, computer and electrical appliance; for Mexico labor was cheaper. Thus many Canadians have been forced to move to Mexico for
Trade agreements are when two or more nations agree on the terms of trade between them. They determine the tariffs and duties that countries impose on imports and exports. All trade agreements …show more content…
For example, although many develop countries’ standard of living has gone down because of globalization, the flip side to this is that hundreds of thousands of people around the world now have jobs. Which lead to an increase in employment rate globally.
NAFTA lowered prices in both goods and services for Canadians, because it got rid of tariffs between the countries. This decreases reliance on oil. Food can also be transported for lower costs, reducing grocery bills. Costs are lowered for farm products, too. NAFTA also help to increased higher wages in several careers in Canada, such as engineering, education and, etc. Moreover, it creates more trade opportunities in Canada and leads to an increase in productivity gradually.
However, with the introducing of NAFTA, led to a dramatic amount of jobs lost in manufacturing industries in Canada which include automotive, textile, computer and electrical appliance; for Mexico labor was cheaper. Thus many Canadians have been forced to move to Mexico for