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Advantages and Disadvantages of International T rade

Advantages and Disadvantages of International T rade . Chapter 1.4. Meeting Our Needs Job Creation Attracting Investment New Technology and Materials Diverse Products and Services. Advantages. Meeting consumer needs. f resh fruit available year-round even when it is not grown in Canada

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Advantages and Disadvantages of International T rade

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  1. Advantages and Disadvantages of International Trade Chapter 1.4

  2. Meeting Our Needs • Job Creation • Attracting Investment • New Technology and Materials • Diverse Products and Services Advantages

  3. Meeting consumer needs • fresh fruit available year-round even when it is not grown in Canada • extra produce and goods that are grown/made in Canada can be exported to meet other countries’ needs

  4. Job Creation • every $1 billion in exports means 6000 jobs for Canadians • one in three jobs depends on exports • Examples in St. Thomas: Presstran, Formet, Starwood (global call centre for hotels), Moore Water Gardens

  5. Attracting Investment • foreign companies may invest in offices, warehouses, or manufacturing plants in Canada, i.e. Toyota • Capital investment creates other jobs, i.e. construction, sales, management • Investors may buy Canadian stocks, bonds, real estate, etc.

  6. New technology and materials • Technology created in one country can be patented and used in other countries • Canada also exports technology (i.e. biotechnology)

  7. Diverse Products & Services • Foods, fashion, inventions, foreign banking, etc. • May result in lower prices, better quality, etc.

  8. Support of Non-Democratic Systems • Cultural Identity Issues • Social Welfare Issues • Environmental Issues • Political Issues Disadvantages

  9. Support of non-democratic systems • buying products may indirectly support governments or companies that violate human rights such as: • coffee – linked with deforestation of the rain forest • China – communist country; supplies many consumer goods, toys etc.

  10. Cultural identity issues • St. Thomas people (and other Canadians) watch American movies, TV and do not support Canadian or local movies/tv • Products symbolize cultural values, i.e. McDonald’s = American culture

  11. Social Welfare Issues • Some countries do not have the same standards for worker and product safety. • buying products made in sweatshops are supporting companies that do not take care of their employees

  12. Environmental & Political Issues • Other countries may not have the same environmental protection issues • Trade may not contribute to the welfare of the people in the trading nation depending on political situation.

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