HLTC03 LECTURE 11.docx

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2 Apr 2012
o Economic globalization of the international economy. The underlying dynamic is the
internationalization of manufacturing, and increasingly of services as well.
We are becoming more independent, if there is a crisis in one country it ripples around
the world. So we have seen growing inequality, increasing poverty.
We noticed that we have lost good paid manufacture jobs which was switched with low
pay service jobs. (we have lost the auto sector jobs)
o It’s the loosening of the regulation. It allows free flow and capital and free trade, but it has
implications for the quality of life
Power and wealth of chief executives in Canada
o Represent all sectors of the Canadian economy
o C $3.2 trillion in assets
o Annual revenues of C$750 billion
They can call the government ask for a meeting and request what they want, and they
wanted free trade available.
The institutions of Neo-liberalism in Canada, Realizing corporate Priorities
o Canadian counsel of Chief executive - is one of the companies that favor less governmental
"some public goods, such as investment in education or essential infrastructure, have direct
implications for the country's future prosperity. Other, such as a strong social safety net
Trade treaties
o Formal agreement btw two or more states concerning trade, investment, tariffs, etc.
e.g. North America Free Trade Agreement
o Trade and investment agreement
o Important chapters: investment, services, monopolies, and intellectual property.
NAFTA - North America Free Trade Agreement
o Broad scope
o "top-down": cover all aspects in all sectors expect those for which governments have arranged
explicit exclusion (those areas that governments have said those are off the table, those will
be exceptions)
It covers everything except for the ones that governments have negotiated for (so
health care is off the table, said it was a sacred phenomenon that will not be negotiated)
o Canada - two reservations "country-specific expectations": protect government measures in
health sector from some of NAFTA's investment and service obligations.
o Most-favored nation (MFN) treatment rule"
o "favour one, favour all"
o National treatment rule: foreigners entitled to same treatment shown to like Canadian
goods, investments, or services.
NAFTA provisions
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