...Market Economy What would it be like if both US and Canada benefited from a market economy? I think it would be great. People could have a better working environment which means better work. Market economies doesnt have alot of government involvement and individuals can benefit very well. They could make their own decisions and help form their own economy. You get freedom of choice and you can own private property without the government breathing down your neck. The only bad things about a market economy are costs for individuals. Canada and US could have the same economy but they would benefit differently. Canada and US both have different governments, but if we had the same economy we could easily flow better. Government is good for showing...
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...Question B It has been argued by some authors that there are principle economic weaknesses that prevent Canada from responding to a rapidly changing economic environment. Discuss what the weaknesses are and how they have hampered Canadian competitiveness. Finally, offer your own assessment, drawing on course materials, of this argument. There are numerous economic weaknesses that the author has argued. This essay mainly focuses on these flaws and how they are hampering Canadian competitiveness. Firstly majority of the companies in Canada are foreign owned or foreign controlled. From manufacturing sector including auto, chemical, and electronics to giant retail stores such as Wal-mart, Costco, Sears, Hudson Bay, etc are all foreign owned. In automobile sector GM, Ford, Chrysler, Toyota, Honda, etc dominates the auto industry in Canada. The automotive industry employs 158,302 people in automotive assembly and component manufacturing, and another 336,212 in distribution and aftermarket sales and service[1]. These foreign operated companies are extremely aggressive in nature, tough for domestic companies to compete and have monopoly over Canadian market. In addition they are usually productive than domestically controlled companies. Equally important it seems that foreign industry has assisted Canadian economy to become stronger and employ Canadian, however Government studies revealed that foreign enterprises had generally employed Canadian capital to expand...
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...A Project Report on Importing Wheat from India to Canada Global Entrepreneurship Submitted to : David Colaluca Submitted By | : Arshvir Gill (100805346) | | Jasmeet Grewal (100815274) | Date : 16 March 2012 George Brown College Reason for selecting Wheat Wheat is the staple food of millions of people. Its cultivation started during Neolithic probably as early as 6,000 to 7,000 year ago. Wheat is the dominant food grain of world commerce with 682 million tons productions, 638 million tons consumption, and 136 million tons trade with 197 million tons ending stocks. Wheat is the most common food product and it is widely used by each group of society. So, we plan to import wheat from India because India stands at number 2nd after China in wheat production. It contributes 81 million tons. India's production rate expected to raise high during current years. The wheat harvesting area in India is the world's largest. It is cultivated from a sea level up to even 10,000 feet. More than 95 percent of the wheat area in India is situated north of a line drawn. India, the second-biggest grower of wheat, allowed private companies to export the grain for the first time in four years, Food Minister K.V. Thomas said. A panel of ministers permitted overseas sales of 2 million metric tons of wheat. Varieties of wheat in India Dara Kalyan Mexican 147‐Avg. Desi (Durum) Economic, financial and marketing reasons for the choice of wheat ...
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...Canada is Dependent on the Economy of the United States Canada’s economy relies heavily upon the U.S economy when it comes to international trade, foreign investment, and jobs. They share the biggest trading relationship in the world with almost 2 billion dollars’ worth of products crossing the border every single day. The stock market consists mostly from the companies located in the U.S. Who obtain natural resources from Canada. Our southern neighbor is the biggest foreign investor in Canada; in addition 1 out of 5 jobs in Canada are linked to international trade. In conclusion if anything were to happen to the economy of the United States it would affect our economy as well. Canada is a member of the G8 and has the 7th largest economy in the world. U.S is very important to us, considering the fact that about 70 percent of the population lives 200 Miles away from the boarder. Trade is essential; Canada is blessed with a huge oil resource, the second largest after Saudi Arabia (Canada’s economic overview, Par4). We are also the second largest country after Russia. We are known worldwide as a very diverse country, top when it comes to economics and occupies a lot of land. Trade of natural resources and different products is very important to keep Canada at the top. The United States of America and Canada share the biggest trade relationship in the world. U.S accounts for 73% of all exports and 63% of all imports in Canada. When NAFTA (North American Free Trade Agreement)...
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...3. Gains from international trade in Canada. • Trade and specialization. 6 • Trade domestic competition. 7-8 • Trade and productivity in Canada. 8-9 • Trade and prosperity in Canada. 9-10 • Trade and wages. 10 4. Internal trade barriers. 11-13 5. Conclusions. 14 6. References. 15 INTRODUCTION Canada has always been a country engaged in trade, although its inhabitants were not very willing to deal with it. Historically, Canada was a very large area, bigger in size in contrast with the number of residents. For this reason, there was always been a need to export the excess products. This situation slowly helped Canada to adopt commercial policy measures and the development of its commercial activity. In the last century, Canada has turned into a world sizable commercial power and has created a national economy that competes other great powers in the world trade. Canada relies in a big extend on trade in order...
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...Planned economy to ensure Long Term Stability of Canada Economists have often debated the strengths and weaknesses of different economic theories or plans. Two economists that proposed two entirely different economic theories to be integrated into society were, Adam Smith and Karl Marx. Adam Smith born in Kirkcaldy, Scotland, on 1723 was an economist from Scotland who believed that an economy can grow without the interference of government role by individuals driven to expand their wealth by the incentive of financial power and reward. However, Karl Marx, a social economist born on May 1818, in Germany had a differing theory. He believed in equality and that with capitalism came a separation of classes within a society, in which the lower class of a society were exploited by higher class workers. Thus, the lower class were unable to acquire financial needs or requirements for their own survival in life. For this reason, he suggested that government should be the main dominance in a country, to dictate how much wealth individuals can acquire, in a way which every individual could equally be financially stable to provide for their own needs and survival. Both economists suggest theories that a society should or could implement, but with both economic theories comes their own set of advantages that a society could benefit from and disadvantages that could lead to society to collapse. In my opinion, I feel that for Canada to economically stable, they should follow the planned economic...
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...Canada: A Small Open Economy INTRODUCTION Canada has a small economy, which should translate into weaker economic growth projections. Canada relies intensely on its trade for enhancement and maintenance of standard of living. Recent expansion and growth of trade and prospects of business in developing market provided Canada with the prospect of trade with China and other similar markets. Market moderation resulted in the reduction of growth in Canadian international trade. Canadian traders needed to find newer grounds and solutions outside the natural reserves. The solution was found in international trade and free trade agreements. CANADIAN TRADING HISTORY Initially, Canada was in no shape to manufacture goods, the natives hunted and bought their needs by supplying fish and furs for trade. This basically established the link between Canada and Europe, and was the initial face of free trade. The connection of Canada and America trade established quite late, but USA became the most significant partner of trade with Canada. After WWII, the face of trading changed for entire world. Canada established strong connections with Japan, and with Pacific Rim Connection the Japanese industrialisation started, international trade with many countries of pacific region. In 1993, Canada signed NAFTA (North American Free Trade Agreement), with America and Mexico to remove trading hurdles. This agreement was basically devised by Americans, who already had a strong business tie with Mexico...
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...Name: Course: Professor: Date: Executive summery As per the 2010 agreement between president of china Hu Jintao and Canadian Prime Minister Stephen Harper, expert officials from both china and Canada carried out a study to give an analytical foundation to evaluate possible bilateral economic complementarities in some specific sectors (Metz, 2001). Each and every state globally has specific interest in various sectors of economy that promotes trade with the other country of interest depending with its capacity to supply to that country. The research completion assists to set the base for the two countries to start investigative discussions on matters of trade and economic promotion, as discussed by the leaders in the 2012 presidential meeting between the president of Canada and china. Both china and Canada are big trading countries. Both countries have a past history of integral trade as well as future potential economic growth. Research indicates that china is currently Canada’s second largest trading partner, whereas on the other hand, Canada is placed thirteenth among china’s top trading partners globally (Zhang, 2009). As a matter of fact from research, there is increase in two-way trade in goods, services and investments among the two countries. However, people to people relationship between the two countries have never been strong though there is an indication that there are students who visit to each other’s country. Government to government cooperation...
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...Name Professor Institution Course Date Germany and Canada; Why they are different? Introduction The economic status of a country is determined by various factors and various measures that are compared to other countries. The economic stability of countries is measured with consideration of various elements such as the general income of the citizens, and also the productivity of various groups and organizations in the nations. The economic contributions of economic institutions such as banks, private and public financial institutions are also used to determine the position of nations’ economic status. The index heritage scale is an essential parameter in determination of a country’s economic position in comparison with other nations across the world. The global economy ranking is therefore achieved after a comprehensive analysis of the economic positions of various countries, and this is with comparison of the pillars of the economy of the respective nations. Poverty, poor health and ignorance are considered to be the fundamental contributors of low index heritage scale due to their negative contributions towards the economy of a country. It is the responsibility of the government and key players in the economy of a country to ensure that the economic strategies and activities that they engage in positively help in eradication of poverty, reduction of ill health and control of unawareness among people and organizations. This paper aims at drawing a comprehensive and evidence-based...
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...Canada Geography , people Historical and political background Economy Geography and people Geography Geographic size: 3.9 million square miles Capital: Ottawa Major cities and population: Toronto, Montreal, Vancouver, Calgary, Edmonton, Winnipeg, Halifax The landmass of Canada is around 3,849,674.042 square miles, and it occupies the northern half of North America. Canada has six time zones, and it has coastlines on the Atlantic and Pacific and the Arctic Ocean, giving it the longest coastline on the world. Canada also has a boundary of 5,525 miles with the United States in the southern. The northern of Canada is Arctic islands, which come within 497 miles of the North Pole. Geography of Canada changes significantly with different its part and with the different region. There are such different climate accompany with landscape. There is a lot lakes and rivers spread out over the country. Canada has more than two million lake and it takes 7 per cent of the Canadian land mass. The biggest lake is Great Bear Lake located in the Northwest Territories. (“Geography Canada”, 2013) However, Canada has only 12 per cent of the land in northernmost is suitable for agriculture because of the harsh climate. Therefore, most of the Canadian live within a few hundred miles in the southern border, where the climate is milder. People Population: 35,163, 430 inhabitants (world population review, 2013) From the chart of Canada’s population growth, Canada’s inhabitants...
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...Name Professor Institution Course Date Germany and Canada; Why they are different? Introduction The economic status of a country is determined by various factors and various measures that are compared to other countries. The economic stability of countries is measured with consideration of various elements such as the general income of the citizens, and also the productivity of various groups and organizations in the nations. The economic contributions of economic institutions such as banks, private and public financial institutions are also used to determine the position of nations’ economic status. The index heritage scale is an essential parameter in determination of a country’s economic position in comparison with other nations across the world. The global economy ranking is therefore achieved after a comprehensive analysis of the economic positions of various countries, and this is with comparison of the pillars of the economy of the respective nations. Poverty, poor health and ignorance are considered to be the fundamental contributors of low index heritage scale due to their negative contributions towards the economy of a country. It is the responsibility of the government and key players in the economy of a country to ensure that the economic strategies and activities that they engage in positively help in eradication of poverty, reduction of ill health and control of unawareness among people and organizations. This paper aims at drawing a comprehensive and evidence-based...
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...adopt the Political Economy Analysis to discuss the benefits, risks and costs from Canadian political, economical and legal systems for FDI. It is stated that Canadian democratic systems prevent government from abusing power; market-oriented economic systems advocate innovation and property rights protection and its legal systems provide safeguards to property rights protection. Therefore, it believes that investing in Canada is a good choice. Since Canada is rich in natural resources and has rich human resources, it is recommended that Canada is appealing for firms which are doing business in the field of natural resources or high-technology. Table of Content Executive Summary 1 1. Introduction 4 2. Political Economy Analysis 5 2.1. Political System 5 2.2. Economical System 6 2.3. Legal System 8 3. Recommendation 9 4. Conclusion 9 References 10 Appendix 12 Table of Figures Figure 1 FDI Index 4 Figure 2 Protection Years 7 Figure 3 Net government debt as percent of GDP 8 1. Introduction Canada, with a population approximately 34 million people, is the second largest country in size after Russia (CIA, 2013). Canada is also one of the largest advanced economies in the world. In the respect to attracting FDI, it jumps 16 spots into 4th place (ATKearney, 2013). Figure 1 FDI Index Source: (ATKearney, 2013) The aim of this report is to assess Canadian attractiveness as a destination for foreign direct investment. Firstly it gives an overview of Canada. Then it will adopt...
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...Name Professor Institution Course Date Germany and Canada; Why they are different? Introduction The economic status of a country is determined by various factors and various measures that are compared to other countries. The economic stability of countries is measured with consideration of various elements such as the general income of the citizens, and also the productivity of various groups and organizations in the nations. The economic contributions of economic institutions such as banks, private and public financial institutions are also used to determine the position of nations’ economic status. The index heritage scale is an essential parameter in determination of a country’s economic position in comparison with other nations across the world. The global economy ranking is therefore achieved after a comprehensive analysis of the economic positions of various countries, and this is with comparison of the pillars of the economy of the respective nations. Poverty, poor health and ignorance are considered to be the fundamental contributors of low index heritage scale due to their negative contributions towards the economy of a country. It is the responsibility of the government and key players in the economy of a country to ensure that the economic strategies and activities that they engage in positively help in eradication of poverty, reduction of ill health and control of unawareness among people and organizations. This paper aims at drawing a comprehensive and evidence-based...
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...institutions in Canada responsible for conducting fiscal and monetary policy, name the Department of Finance and the Bank of Canada. What are the roles of each and what are each responsible for obtaining? What are the responsibilities of each institution and what tools do they have at their disposable to impact the economy? Can you say that their objections are in tandem with one another or due they sometimes conflict? Please explain. tools available to the Federal government in managing the economy -- Fiscal and Monetary Policy Legislative Overview In Canada, the monetary policy is conducted by the Bank of Canada in which the government owned organization function with considerable independence from the federal government but is accountable to the parliament. Monetary policy in Canada is set by non-elected officials at Bank of Canada. Other decisions regarding the level of government revenue and expense is part of fiscal policy which is made by the Government of Canada with the approval of the parliament of Canada, as result monetary and fiscal policies are governed independent of each other (Frigon, 2010). The role of monetary policy is to preserve the value of capital by keeping inflation low, stable and foreseeable. This allows Canada to make spending and investment decisions with confidence, encourages long-term investment in Canada and contributes to better job openings and greater productivity with a better standard of living. Monetary policy in Canada has three characteristics:...
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...Analyzing Current Economic Issues Summary: Canada’s Exports Need to Be Reoriented to the New Global Economy, Says Bank of Canada Governor Mark Carney (Source: Bank of Canada) This article focuses on the reasons behind the downturn of the Canadian economy. Mark Carney believes that the combination of overexposure to the U.S. market and underexposure to faster-growing emerging markets is almost entirely responsible for Canada’s further loss in world market share over the last several years. The article also talks about what actions Canada can take in order to bring our economy back up, and how we should invest in our greatest resource, which are our people Summary: Canada GDP: July 2012 Saw 0.2 Per Cent Jump, Decline in Mining, Oil and Gas (Source: HuffPost Business) During the month of July, 2012 Canada has seen a 0.2 percent decline in its mining, oil and gas extraction. When looking at the different types of sectors, the manufacturing sector performed well with a 6.9% increase along with wholesale trade increase by 0.2%. Although Canada’s output has increased by 1.9%, its weakness still lies in the export sector with a $2.9 billion trade deficit for the month July. Summary: Unemployment rate holds steady at 7.4% (Source: CBC NEWS) According to Statistics Canada, Canada’s unemployment rate remained at 7.4% in October. In addition, October’s unemployment in 7/12 provinces and territories has increased especially in P.E.I with the highest unemployment rate increase...
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