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Ms Kaspar Globalization's Impact on Canada
Transcript of Ms Kaspar Globalization's Impact on Canada
Emerging Markets Our Definition: "Through economic policies, advancements in technology and communication, it has become a small world" Types -Economic globalization -Political globalization -Cultural globalization Increasing economic interdependence of national economies across the world through a rapid increase in cross-border movement of goods, service, technology, and capital the increasing number and power of human associations which influence or govern the world as a whole. the transmission of ideas, meanings and values across national borders The idea of transportation and communication advancements Imports Exports The Euro The creation of the euro can be seen as one of globalization's greatest achievements over the past decades The initiative to build Europe's monetary union emerged in 1970, but it wasn't until 1992, when the Maastricht Treaty was signed, that the roadmap and timetable for creating a single currency were determined. The Dollar All global markets are measured based upon the American Dollar (to which the CND dollar is very similar) *Aided by the use of new technology What forms of transportation and communication can you think of? <-------- <-------- Imports and Exports Cultural globalization combined with economic globalization (and technology) created a larger demand for new products ex. Maple Syrup, Crude Oil Over 7,000 international restaurants in Toronto alone According to Human Resources Canada, approximately 28% of Residents in Ontario are foreigners Ethnic diversity of Canada, http://www.statcan.gc.ca/tables-tableaux/sum-som/l01/cst01/demo26a-eng.htm Canada ranks 12th in the world with patented inventions, with 21,330 patents in use today, how is this relevant to globalization? The Dutch East India Company (founded in 1602) was the first joint-stock company to get a fixed capital stock Canada's Stock Market History The exchange was formally incorporated by an act of the Legislative Assembly of Ontario in 1878, right after the Montreal Exchange was formed. Hudson's Bay Co. was the first listed company, of <100 on the TSX in 1901 Approximately 9% of companies listed are international Not to mention... Having a stock market gives people an opportunity to invest while also providing jobs According to Statistics Canada, 40,000 new jobs were created last year alone Accomplishments Olympics
(i.e hockey) 8 of 12 top-ranked leading export countries 6 of 10 largest major stock exchanges by traded value and market capitalization 5 of 20 top-ranked countries generating a nominal GDP per capita above US$40,000 2 countries with the third and eighth largest oil reserves G8 Facts Direct aid from developed nations is needed to help break the vicious circles of poverty This includes:
Lack of economic freedom and stability
Low levels of investment
Dependence on child labour Brings nations together to aid one another
Earthquake in Haiti Political economic systems limit economic freedom in the individual pursuit of self interest i.e not being able for girls to go to school because it is politically incorrect http://plan-international.org/girls/ With the aid of the removal of trade barriers, imports and exports have become part of every nation's economy Thus, promoting multinational corporations Q: What would be the problem with this? Pros Cons Countries can work together to help eachother grow
Economies are stimulated due to the influx in international affairs
Advancement in technology (communication and transportation)
Now there is a worldwide market for companies and consumers to access products from different countries
Trade is made easier by the international financial systems (currencies)
Political advancements can be made to address global issues
International organizations being formed (i.e the U.N, W.TO, and C.I.D.A) Percieved by many to promote exploitation of the poor (capitalism thriving)
Dependance on international trade
Political conflicts may occur
Going to extremes to fulfill the demand
Economies become dependant on international investment and input
Diversity is challenged (currencies, legal systems, cultural beliefs) Emerging Markets Cont.