The oversight of international regulation is undertaken by the World Trade Organization, which brings the globe's free trade partners together to broker affairs of economic cooperation or contract. However, this has proved to be an agency with too diluted a focus to effectively maintain balance between such partners as Canada and the U.S. Campbell addresses most of the regulatory differences between the two nations as being historical and incidental in some ways, indicating that perhaps the inconsistencies are simply in need of concentrated attention. This notion accounts for the 2005 launch of a Trilateral Regulatory Commission, partnering Canada, the U.S. And Mexico in an agreement to acknowledge a central forum for regulation of trade discrepancies. Though its authority and effectiveness have both yet to come fully into form, this board represents an opportunity to streamline the commerce-related legal provisions which differ in sometimes small but deeply felt ways.
Political Implications:
Globalization advocates in Canadian governmental leadership will tend to hoist economic indicators from the years which parallel the greatest export indexes to the United States, following the FTA and NAFTA. And there is statistical bearing for that assertion, found in places where the effects of free trade were most immediately enacted. "Studies of the early years of FTA trade show that Canadian exports grew more rapidly in sectors where tariffs were cut the most, with nonresource products growing two times as rapidly as resource-based products." (Morici, 492) From its 1989 inception to the end of its first decade, the agreement would prove to be a stimulant to the growth of the Canadian economy as a whole. Its elevation to a role as a top -- and in some years the top -- trading partner of the United States have changed the nature of its own economy. Investment from the U.S. In Canadian markets expanded and the Canadian market consistently swelled. The trend would continue with the inception of NAFTA in 1994. According to the Canadian government, from that point until "1999, Canada's economy grew by an average of 3.3%, while the U.S. And Mexican economies grew by an average of 3.9% and 3.1%, respectively." (Canada, 1)
Today, however, Canada is at the crossroads of which both Hart and Campbell speak. Already committed to free trade and economic integration with the United States, Canada's political leadership shoulders a heavy burden of defining its nation while attempting to mirror its neighbor's economic resiliency. Paul Martin had been in favor of free trade, but also feared the reprisals of a public which was resentful of American social policy, militarism and its violation of international policy. The Martin government was even vocally critical of all of these facets of its close ally's international and domestic affairs. Even so, he pursued an agenda which attempted further economic integration by homogenized legal oversight of the free trade alliance.
This has been underscored by a circumstance which illustrates the danger of such homogenization. Again, U.S. dominance must be considered a threat to Canadian independence under a move toward regulatory integration, given its easy potential to "overwhelm Canadian cultural industries, compromise the independence of Canadian foreign policy, and undermine political support for Canada's more generous social safety net." (Morici, 492) These are the formative basis for the objection which all manner of non-governmental organization have voiced to further proliferation of free trade. Environmental agencies, women's rights groups and leftist political organizations have all been critical of the government's submissiveness to an America which differs so vastly in its value system.
Ultimately, the U.S. dominance has taken the form of economic discretion not afforded to its partner. As leadership changed hands in February of 2006, with the historical elevation of Conservative Party leader Stephen Harper to Prime Minister, Canada continued to view free trade as an imperative. But Harper pronounced his willful resistance to a U.S. dominance over Canadian economic or political identity and has backed this claim with his stance in an ongoing dispute between the two nations. Despite the posturing of both the Canadian and U.S. governments, which poses a uniformly positive front over the progress of free trade, a lumber dispute that has been under contention...
Canada Politics & Governance Politically, Canada has been dramatically reshaped by globalization. The country's political system was developed to reflect the proverbial two solitudes -- English and French -- but overhaul has been necessitated by an influx of millions of immigrants, and the changing views of Canadian society with respect to the nation's role in the world. This section will highlight the macro-level picture first, and then illustrate some lower-level examples of
S., despite ardent opposition to the potential prophesized concerns of many. Real progress is being seen and free trade is expanding, exponentially and many U.S. And Canadian concerns of Asian market dominance are being addressed that otherwise would not have been. Additionally the new ground being cemented in negotiation and legal redress is substantially demonstrative of the future benefits of free trade agreements such as CAFTA. Works Cited Burtless, Gary Progressive Policy
In 2002/2003 alone, sale of Canadian red wine increased by more than 15% over previous years ("Wineries in Canada" para. 2). In the domestic Canadian market, Canadian consumers have been drawn to Canadian coolers, but domestic beer and wine have been losing ground to imports, with imported beer and wine products posting an average growth rate of 15.5% and 10.4%, respectively, over the last five years. Red wine has countered
In other words, with respect to the dilemma between IFRS and U.S. GAAP, the view provided by the article is that recent changes have actually manifested a far more intensive process of oversight in the latter than is proposed by the former. To the point, Ramanna & Cheng report that "despite the attempts at convergence, as of 2005, significant differences between U.S. GAAP and IFRS remained. The differences were due
78) adds that the international migration of people is not a new dynamic at all; in fact migrations were "a significant phenomenon in the late nineteenth and early twentieth centuries." In the U.S. during the era 1901-1920 the number of immigrants admitted "exceeded that of the twenty-year period" that began in 1981, Ruccio continues, and those numbers from 1901-1920 are far greater than any numbers of immigrants in the
McLaren and Farahmandpur conceive of the new imperialism as a "combination of old-style military and financial practices as well as recent attempts by developed nations to impose the law of the market on the whole of humanity itself" (2001, 136). McLaren and Farahmandpur note, too, that the concept of class division is a taboo subject within the "guarded precincts of academic discourse, leaving discussions of class out of discussions of global
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now