Good evening, I am writing a paper on the impact on international of trade of Canada.

I am stuck on the below

Positive and Negative impacts

The impact of trade on Canada can be grouped into positive and negative impacts. Positive impact includes:

Trading utilizes the abundantly available raw materials. Like Canada, they produce fish, oil, and fur abundantly; without trade, the excess production of these materials could go to waste. Trade has made Canada benefit significantly from the naturally endowed raw materials. Most countries specialize in the production and exportation of goods and services which use abundant raw materials that are locally endowed.

Trading advocates for comparative advantage. Canada has adopted the theory of comparative advantage and produces only goods which they have lower opportunity cost. Even though they can produce other products they import, they still depend on exports. In the process, the country's economic welfare has been increased.

Trade has encouraged specialization and economies of scale with greater efficiency in Canada. By pursuing its specialization, the country is benefiting from economies of scale, outweighing all the other factors. Specialization in Canada has enabled improved efficiency. Automobile production where the process is more global with engines, design, and marketing coming from diverse countries.

It has resulted in economic development and global growth. International trade is an essential factor in the promotion of economic growth. In turn, it has led to a decline in poverty levels within Canada.

The negative impacts include:

The volatile global price that keeps on changing is significantly affecting Canadian revenues and profits from exports. It is a factor that they have no control over but must try to manage it whenever it arises within the global market.

Some industries within Canada have no chance to grow since they face high competition from highly established foreign firms. New infant industries find it difficult to establish themselves within the country's economy.