How Does Globalization Affect Canada

Secondly, with globalization many Canadians are facing unemployment. To begin, today’s world is constantly looking for a profit. In general, Canada’s markets are small and this, consequently, makes production expensive. This puts Canadian companies at a disadvantage because they cannot create items of a lesser cost, as the production cost acts as a barrier. To emphasize, this is advantageous for other countries, as they own larger markets than Canada. Under these circumstances, other countries have the opportunity to redeem costs and provide less expensive products to consumers. For example, one hour of prime time television in Canada costs 10 million dollars(Canadian Encyclopedia). Contradictory to this, for one hour of prime time television

This had a negative impact Canada’s economy, and contributed to unemployment rates as asserted by the fact :“According to Statistics Canada, 322, 000 manufacturing jobs were lost between 2004 and 2008 in Canada.” (Statistics Canada). Globalization has also allowed foreigners to work in Canada. This is disadvantageous for Canadians, as they are at the risk of losing their job to a foreign worker. For example, when a foreigner starts a company in Canada. Globalization has a negative outlook on the job prospect for Canadians, as many companies are searching for profits. In addition, Canada’s increased dependence on globalization can lead to a severe impact to the economy if an important trade deal is breached. One knows that Canada greatly depends on America for exports. In fact, Canada exports around 75 percent of its goods to America. If a deal, like, the NAFTA trade deal is infringed;many Canadians stand a chance of losing their jobs as these companies plan to re-establish themselves in the United States. According to IDC 26 percent of the 1.002 firms interviewed, many “indicated that they are moving – or are considering moving – part of their operations inside the U.S. border in response to the elevated uncertainty regarding U.S. trade