The Economic Blackhole Essay

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The Economic Black Hole As Kahil Gibran once said: “Life without liberty is like a body without spirit,” this quote mirrors the Canadian economic state in the sense that Canada on the global plain has lost its identity. Canada has always been a country saturated in culture and open to diversification but the NAFTA agreement has brought its downfall. Canada, United States of America and Mexico united to sign an agreement in hopes of achieving a better standard of living and to make humanity more affluent. Canada, the United States of America, and Mexico signed the North American Free Trade Agreement on December 17, 1992 in light of these hopes. Globalization through the Canadian perspective was the foundation to economic downfall and the beginning to uniformity on the country’s social plain because the NAFTA agreement brought forth economic instability through job cuts, stole Canadian resources and also deteriorated Canadian culture. In today’s society it is greatly accepted that USA is one of the most powerful countries known to mankind. This is why it is startling to see that such a powerful nation formed an alliance with Canada, a country that is considerably lower on the economic ranking. When USA approached Canada, it was not assumed that this economic globalization would have such a drastic impact on the countries especially Canada. “Economic globalization refers to the intensification and stretching of economic interrelations across the globe.” The NAFTA agreement has definitely transformed the rigid border lines into a more permeable ‘fuzzy boundary.’ “The main outcome [of globalization] has been to strengthen the influence and bargaining power of multinational corporations.” It is precisely this ideological plan that brought the unintended economic downfall. With the America borders open to employers it only made sense to “flood into the cheaper

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