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Globalization
PAGE DEVELOPED BY: Jeff Chan 2006

Summary
Globalization is the world trade of services, goods, technology, and labour. Globalization has been around since the 17th and 18th century. Colonial empires and European countries carried silk and tea from other countries. During post-war, Canadians addressed globalization as americanization, however, globalization has changed drastically in the 21st century. Canada has now began to expand its trade with other countries. The expansion of the FTAA into the NAFTA is an example of Canada's participation in the global market. Trudea expanded trade with Asian countries during the 1980s. In 2002 Canada created a free trade agreement with Costa Rica. Today, 40% of Canada's economy depends on trade. Out-sourcing has allowed home industries to expand into foreign countries for cheaper labour and goods. However, globalization has been an issue of pros and cons. Many people fear that the globalization will cause local and small businesses to suffer. It could also cause high unemployment and result in dependence on other countries. Others believe it will benefit the economy with cheaper goods and services, lower taxes, and increase competition of corporal businesses. Globalization will continue to expand throughout the 21st century.

Historical Importance
So, why is globalization important? Globalization has created new goods and services in Canada. The internet and telephones is an example of how globalization has created necessary services for Canadians. Can you imagine a world without internet? Other benefits from globalization has created a better standard of living for Canadians and prospered our economy. However the American economy has expanded throughout the world and many people fear that Canadians will loose its identity. However, globalization has opened more partners for Canada and caused their dependence on the Americans to lighten.

REVIEW QUESTIONS

How much of Canada's economy depends on trade?
1. 50%
2. 30%
3. 85%
4. 40%
What has been created from Globalization?
1. The Internet
2. Trade
3. Better Canadian-American relationship
4. Colonizes
When has globalization existed in the world? Since the....
1. 20th Century
2. 17th Century
3. 21st Century
4. 19th Century
In what year did Canada form a trade agreement with Costa Rica?
1. 1867
2. 2005
3. 2006
4. 2003
5. Which of the following terms is addressed with globalization
1. Outsourcing
2. Photosynthesis
3. Americanization
4. 1 & 3