Worlds Apart: Should Globalization be Shunned or Embraced?

This paper argues that globalization is much more than an extension of the various trade arrangements that have been negotiated since the Second World War.

Document Highlights 

Proponents of free trade and open capital markets argue strongly that Canada simply cannot afford to isolate itself from the realities of global trading practices. Opponents caution against the loss of economic sovereignty and the erosion of Canadian values. It would be comforting to believe that the debate could be resolved by a clear-headed examination of the pros and cons. In reality, the issues are exceedingly complex and susceptible to misunderstanding.

For starters,

• globalization is one of those words that have crept into everyday usage without any broadly accepted definition;
• the manner in which trade and investment interact is susceptible to misinterpretation; and
• the very nature of what constitutes a Canadian company introduces new complexities.

This paper attempts to shed some light on those issues.