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Political Economy (Canada and the Global Political Economy) Essay Example

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Political Economy (Canada and the Global Political Economy)

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The increase in imports also require the import of foreign workers. This increases unemployment competition. Globalization also increases the level of labor requirements in developing countries. For this reason, the market is required to pay less for labor services. This is also influenced by the fact that globalization and free trade increase the number of foreign employees. This creates disharmony in the domestic employment market.Canada should be able to balance between the benefits and disadvantages of free trade and globalization to benefit all stakeholders in its economies. This is based on that the impact of globalization and free trade has been significant to its economy. Since the realization of the free trade in North America the benefits of the free trade on Canada has been significant. For instance, the venturing of Canadian companies in the United States such as Tim Horton has been influenced the growth of the economy. Tim Horton has 300 stores across the United States as influenced by free trade in Northern America. Lynch (2010) is of the assumption that the North America Free Trade has increased the ventures of developing countries like Canada into the massive U. Apart from the North America free trade agreement, global ventures into Canada by foreign corporation have played a significant role in boosting the nation’s economy. For this reason, globalization is highly advantageous to Canada. However, the benefits can only be attained if handling of the economic factors is done appropriately.Firstly, Canada should ensure all benefits of free trade agreements are retained in the country. Lynch (2010) is of the assumption that free trade and globalization is only beneficial to a nation if the benefits are maximized and retained in the host economy. The author further asserts that developing countries rarely retain benefits of globalization thus their low beneficial level from the economic factors (Lynch, 2010). This could be done by creating free trade policies that minimize the import of foreign employees. This would increase local employment opportunities. In additional, the policies would increase the growth middle class in the country. In an argument by Lynch (2010) the use of local employees also retains the economy developed from companies. The creation of employment policies to curb the rising cases of foreign employees

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