Solution
Soumi answered on
Mar 26 2021
Running Head: INTERNATIONAL ECONOMICS 1
INTERNATIONAL ECONOMICS 6
INTERNATIONAL ECONOMICS
CANADA & THE CPTPP — CONS OF THE CPTPP
Table of Contents
Introduction 3
Threat to Climate Change 3
Threat to Local Industry 4
References 5
Introduction
Comprehensive and Progressive Agreement for trans-Pacific Partnership (CPTPP) has been signed as a trade agreement between 11 countries, thus, forming an area where free world trade can be conducted. These countries are Australia, Canada, Singapore, New Zealand, Brunei, Malaysia, Vietnam, Japan, Peru, Mexico and Chile. These countries together conduct free trade among themselves, which adds 13.4% to the overall Gross Domestic Product (GDP) of the world (Cloud Front, 2019).
As stated by Te
y (2016), apart from adding to the global economy, this agreement also aimed to reduce ca
on emission by a minimum of 2o per year. However, instead of being able to achieve this aim, global free trade area has contributed to the increase of ca
on footprinting indiscriminately. Hence, these give rise to two claims of threat of CPTPP—on climate change and local industry.
Threat to Climate Change
Industrialization and globalization are inadvertent to cause climatic changes in the environment, owing to the large amount of ca
on these phenomena emit into the atmosphere. As mentioned by Hailes, Jones, Menkes, Freeman and Monasterio (2018), the high levels of ca
on in the environment are causing biogeomagnification, overall increase in the global temperature and various health risks. As informed by Van Harten (2015), health issues specifically in Canada are heat-related illnesses and deaths, water-borne diseases...