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Advantages / Disadvantages Of Trade In Canada
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Advantages / Disadvantages of Trade in Canada
Advantages Cont'd
4. Trade resources. we have to much in return for a resource we don't have a lot of. Ex. Trading wood for fruits we cannot grow in Canada such as oranges, bananas, etc.
Disadvantages Cont'd
5. International Trade attracts investment. Ex. Many foreign companies will invest in a distribution warehouse to simplify trade and reduce cost
Disadvantages
Advantages
Advantages Cont'd
6. Import of Harmful Goods Import of drugs, etc. affects the economy and the people.
6. It attracts new technology and materials. Ex. New technology promotes competitiveness and profitability, The newly developed technology can also be traded to other countries
1. Trade creates jobs. They create jobs because it requires people to physically deliver the product to the other country
1. Support of Non-Democratic Systems.
Ex. Landowners in El Salvador want farmers to grow coffee beans because it is a very profitable cash crop. The farmers want to use the land to grow different food for their families. The farmers don't get a say in what they grow since they don't own the land.
7. Diverse Products and Services.
Ex. oranges were considered a rare treat; parents put them in stockings for children. Now, we can buy oranges by the crate at local grocery stores thanks to better preservation and trading technologies.
7. World Wars. International trade breeds rivalries amongst nations due to competition in the foreign markets. This may eventually lead to wars and disturb world peace.
2. Stabilizes prices. It equalizes the prices of goods throughout the world (ignoring cost of transportation, etc.)
2. Cultural Identity Issues. Ex. Coca-Cola, McDonalds, Nike, etc all sell products that symbolize American values and symbolize and reflect American corporate culture
3. Due to Canada’s disadvantage of climate, international trade creates an advantage because we get things we need by trading something we don’t need.
3. Social Welfare Issues. Ex. Maintaining safety standards, minimum wages, worker’s compensation and health benefits are all social welfare issues that cost businesses money
Disadvantages Cont'd
4. Environmental Issues. Businesses are urged by the government and environmental groups through laws and regulations to keep our air, land and water clean. This is a costly process so businesses decide to move their operations to countries; i.e. Mexico, where it is less regulated.
5. Political Issues. Ex. Commodities such as gold, diamonds, oil or farmland are so important for countries to have control that wars have been started and people have been killed.