Globalization and Canada

1062 Words3 Pages

Introduction Globalization is the process by which a business or company becomes international or starts to operate on an international level. Globalization does not benefit the majority of the world’s population, including Canadians, and is slowly growing to increasingly deadly proportions. It benefits the wealthy, which are but a minority in comparison to the rest of the population, and leaves the impoverished ones out of the loop. The unsteady flow of invisible money running in and out of countries has our markets operating like roller coasters. Globalization renders our government powerless and leaves them at the mercy of foreign investors. The negative effects of globalization far outweigh and short term gains. Diminishing Middle Class A diminishing middle class seems to be a recurring trend all over first nations, including Canada. The evening news and business reports are bombarded with news of a declining middle class and increase in the number of poor people. There seems to be a pattern of growing poverty that is in relation to a diminishing middle class. It seems as though the shrinking middle is on its way to extinction and the number of poor people is increasing tremendously. Our society shall soon be composed of two groups, the filthy rich and the filthy poor. This is a direct consequence of globalization. There seems to be a rule associated with globalization that states that a government has to do everything in its power to attract foreign investors regardless of any social problems. In an attempt to attract such foreign investors, governments have tried to maintain a low inflation rate. However, what they fail to mention is that unemployment is the sacrifice that has to be made in order that inflation rates remain low. The increase in unemployment is causing the decrease in the middle class. Another cause of this decline are the growing interest rates that are being driven up to combat the malevolent inflation. As stated in the 2000 Budjet report, “major central banks started to raise interest rates earlier this year.” These interest rates are driving families further into debt. Thus, people are losing their homes, cars, and so much more, all in the name of globalization. The governments priorities are becoming forgotten and replaced with the great game of monopoly. Volatile Markets Volatile markets are yet another pri... ... middle of paper ... ...t be blinded by these short-term gains. It is causing us to be money-starved animals not allowing us to speculate the disastrous long-term effects. When the last tree has died and the last river has been poisoned and the last fish has been caught, we will probably realize that we cannot eat money. Humans depend on the environment to survive, so these quick economic rewards are only temporary and an empty pursuit. Conclusion Under globalization, nations compete to attract foreign investors and corporate operators. Global investors seek those opportunities that offer the greatest promise of growth for their funds. Globalization has told us that in order to be competitive, a nation must orient its policies around encouraging and supporting economic growth despite whatever social deterioration and environment degradation caused. It is safe to say that globalization is definitely harmful to the well being of Canadians and any other people. Bibliography Taillefer, Guy. “Les Amériques according to Vicente Fox.” Le Devoir April 2001 Drohan, Madelaine. “Spoils of globalization must go to all”. Globe and Mail Metro Edition January 2001 Internet site: www.thegazette.com

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