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The Negatives Of Globalization In Canada

790 Words4 Pages

Ms. Stoby
The Negatives of Globalization Since the establishment of globalization, globalization has revolutionized and has pioneered the establishment of economic growth and prosperity. The true impacts of globalization can be seen everywhere: in the newspapers, on the media, in academic literature and even business journals (Griswold, 1998). Yet unknowingly, many cannot perceive its integration into the Canadian way of life, as it is set as a lifestyle that surrounds the Canadian population and, as a result, we all strive in it. Equivalently, economists look upon globalization as a force of ‘good’. Unfortunately, economist seem to be guided by their defective models, missing the true impacts, and absolute terror brought by globalization …show more content…

As the ever-growing byproduct of globalization, greed and exploitation are set upon the market. Foreign businesses with the access to large markets and unrivaled opportunities encourages these businesses to expand their ambitions in the attempt to outwit their enemies. This ambition revolves around the subject of competition, and in this attempt, businesses arise with troublesome mentalities and corrupt ethics. With a large demand for cheap labor and the ever-growing rate of unemployment internationally, foreign workers are prone to the abuse of businesses through the lowering of wages and minimization of benefits. Many businesses practice the strategy of outsourcing, which is a business strategy guided by globalization and the introduction of information and technologies (Huwart & Verdier, 2013). Through this practice, occupations found in developed countries, are grant to workers in developing countries as businesses can pay wages at a lower rate. By reducing the cost wage expenses, companies capable of minimizing prices, therefore they are able to provide goods and services at a cheaper rate (Huwart & Verdier, 2013). Allowing foreign operating businesses to obtain a competitive advantage over the domestic businesses of Canada. As these companies become more desirable for cheaper goods than their competitors. Considering this, Canadian businesses are placed in jeopardy as they have a restricted presence in the global market as a product can be obtained with similar quality with lower expenses. China is publically known example of this strategy, in 1990 china sold textiles at an unbeatable price, therefore forcing competitors to shut down or downsize in other countries (Huwart & Verdier, 2013). When businesses have access to these resources, competitors become obsolete as they have a

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