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Globalization

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"Time" magazine, Canadian edition, has recently published an article on the Danish economy titled "Why Denmark Loves Globalization", November 15th, 2007.

(a) Discuss the features of the Danish economy (such as population, GDP/capita, main exports/imports, social services provided, size of government, etc.) and why the Danes overwhelmingly support globalization and job outsourcing.

(b) The manufacturing (especially textile) industries in Quebec (and Ontario) have suffered in recent years due to more Chinese/Indian textile imports as well as the strong Canadian dollar. Discuss the features of the Quebec economy (such as population, GDP/capita, main exports/imports, social services provided, size of government, etc.) and why Quebecoise are not overwhelmingly supportive of globalization and job outsourcing.

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The economy of Quebec is behind that of Canada and Ontario. The GDP of Quebec in 2005 was US $221.6 billion. And it per capita GDP was US$29,163 in 2005. Even though the per capital income of Quebec is not very low, its distribution is uneven. The main exports of Quebec are to the US and this accounts for 81% of all its exports. As the value of the Canadian dollar increases, Quebec gets less value for its exports. Moreover, South East Asian countries like China that keeps the value of yuan and artificially low are able to increase their exports especially in textiles to Quebec. The Asian exports also competed actively with Quebec's exports to the US.

Quebec feels that globalization is bad because on one side ...

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