Canadian Business in an International Context

It is quite common for different social aspects like culture and communication to follow the nature of the economy, and in terms of globalization this is very much the case.  The amount of international trade has nearly quadrupled from 1993 to 2009 due to various factors of globalization including increased flexibility in international capital flows, liberalization of trade, transportation advances, technological developments, and communications integration.  This means that some traditional economic behaviour is becoming extinct while new opportunities arise.  William Polushin, the founding director of the Program for International Competitiveness at McGill University, argues that Canada has typically enjoyed a very favourable situation, being blessed with an abundance of natural resources while being situated directly above the world’s largest consumer in the United States.  Now that labour is internationally available and large businesses are becoming globally integrated, this situation is no longer quite so permanent or lucrative.  In fact, it could end up being harmful because Canadian businesses may have gotten lazy from enjoying decades of such a desirable situation.  The big challenge in the coming years is for Canada to seize new opportunities and move away from things that no longer work.

Fine, Sean. “Can Canada Handle Global Commerce?” The Globe and Mail

http://www.theglobeandmail.com/report-on-business/economy/can-canada-handle-global-commerc/article1787677/

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