Globalization is a misunderstood and abused term. The world was more open 100 years ago in economic and political terms than it is today. There is a form of globalization that pertains to capital investment, technological change and usage, and improved communications. But it is not American centric nor is it dominated by US firms, nor does it discriminate against the poor. In fact poverty has been reduced in the past 50 years, by 50 % due to improved trade.

Why is Globalization an important issue for Toronto?
Toronto is a medium sized regional city trading centre within the North American market. It competes with other large city centers for business, investment, and skilled labor. Importantly transportation, infrastructure, quality of life, wages, social services and the like constitute decision points for business and individuals. In many respects Toronto is behind its competitors. Transportation problems, a low dollar, a constrained tax base and over politicization and officials who promote unity through anti-Americanism, all aggravate and impede the City’s development.

Trade with the US is 3x more important to Toronto than intra-Canadian trade. It is time that Toronto’s politicians stop pandering to outdated philosophical constructions and equalization measures and understand the reality of globalization, its components and its future.

Read more:
Globalisation and its limits
Globalisation-institutions and monetary policy