Globalization is defined by the interaction among people
Globalization is defined by the interaction among people, companies, and government in different nations and is driven by investment, international trade, and information technology. It is a process that has effects on the environment, politics, culture, and economic development which can influence the wealth and prosperity of the people around the world. Due to the high advances in technology, many things are now possible, easier, and less complicated compared to before. This includes activities such as travelling, communicating, and trading which results in globalization becoming more important and controversial than at any other point in history. Although there are negative side effects to globalization in Canada, there are several benefits as well.
Economically, globalization has increased free trade by decreasing the barriers between nations. For example, the North American Free Trade Agreement allowed Mexico, the United States, and Canada to exchange goods and services without restrictions. Free trade benefits consumers by being able to choose from a large collection of products with lower overall prices due to the increase of competition between companies. It also allows nations to specialize and advance by producing higher quality goods at better and/or reasonable prices. “Foreigners have invested more than $600-billion in Canada. Exports, mostly to the U.S., amount to about one third of Canada’s gross domestic product (GDP). Canada is a member of more than a dozen international organizations” (The Canadian Encyclopedia). This quotation determines that having different countries invest and expand their businesses in Canada, those countries will be able to help benefit consumers by providing their different goods and services since. This results in not only increasing the positive impacts of free trade, but the cultural diversity in Canada as well.