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Impacts of Free Trade on Manufacturing (LOST MANUFACTURING (international…
Impacts of Free Trade on Manufacturing
LOST MANUFACTURING
international competition
outdated technology
decrease in demand for product
they did not meet the safety standards
they needed to modernize the factory
employees refused a 50% paycut to keep the factory open
Operating cost too high
the high canadian dollar made it less competitive with america
PLANT CLOSINGS
The population for Smith falls over the years has declined because most of the big companies and job opportunities have closed and the companies have not been successful.
It is undesirable because when you land a job you think of a long term commitment but when that company closes you need to find a new job so you need to explore new options in different places
The workers that lost their jobs due to the closure of the company.
if the major employer of a town closes, then the other businesses close (domino effect)
Free Trade/Manufacturing
Manufacturing /Foreign Trade
The trade balance is the difference between the value of the exported and imported goods.
A Company with a positive trade balance exports more than it will import.
A Company with a negative trade balance imports more than it imports