The Economic Impact Of Canada's Economic Crisis

Since the country’s conception in 1867, Canada has lived in the shadow of it’s southerly neighbour, the United States of America. Through the years, what started out as a country with very distinct culture has morphed and become Americanized. Historically speaking, American influence has had a great economical impact on Canada. Speaking about the Americanization of Canada, Pierre Trudeau, former Prime Minister of Canada, has said, “Americans should never underestimate the constant pressure on Canada which the mere presence of the United states has produced…” This pressure has changed the way Canadians live and conduct business. This pressure has Americanized the Canadian economy. American culture has a very far reaching effect on Canada with many trickle down effects. Americanization of the Canadian economy has lead to the American control of the Canada’s corporate structure, Canadian dependence on American capital, turned the Canadian economy into a mirror image of the American economy, and has led to loss of

Between 1900 and 1929, Canada became significantly more autonomous socially, politically, and economically from Britain and the United States; however, there were still times where Canada’s autonomy had decreased due to Canada’s dependence on Britain and the United States. Canada had gained political autonomy from Britain when it was officially and internationally recognized as an independent nation. Economically, Canada was very reliant on British and American investment. However, Canada’s social autonomy had increased because of the first world war and entertainment, like art and literature. Politically, Canada’s autonomy had increased greatly from 1900 to 1929.

Canada is currently sitting at a population of over 30 million people and is ranked 11th in the world in terms of exports (Canada: Economic Freedom, 2017). The economy in the country seems to be thriving very well with many skilled workers and plenty of jobs for most individuals in the civilian labor force. For the most part, Canada has always done pretty well in terms of having a successful economy. Starting in the early 50s Canada was thriving primarily off of the waterways unlike today the country thrives off selling petroleum, cars, and other things other countries need and want. Although this shift from a farm based economy too much more industrialization did not happen until after the Great War, it wasn't until the 1920s until Canada

Unemployment currently sits at a seven point two percent as of March two thousand thirteen. This is a slight increase recently but has gone down from about eight point seven percent back in two thousand nine, the labor force has also increased by roughly one million people since the middle of two thousand nine. There has been a big boom for Canada since the American financial crisis which definitely affected the livelihood of Canadian citizens. Canada is unique because it is officially a bilingual country. This is an important factor when considering doing business in Canada. Canada has a constitutional monarchy which also has three branches of parliamentary (Legislative, Executive, and Judicial). The head of state is Queen Elizabeth the second. Canada is one of the top ten trading countries in the world; they are a very globalized country. They have a varied culture in Canada a major factor in this may be because it has the highest immigrations rate per capita in the entire world. The country itself prides itself on the multiculturalism that it promotes as a society and as a government. They come from British and French ancestry but also have a big influence from the Canadian people that instantly make Canada a very diverse market. Canada also ranks eleventh highest in human development as of March two thousand thirteen according to a Human Development Index study conducted by the United Nations Development Program.

Canada is a country, proud of its culture and heritage. Canada is a country in North America alongside the United States and Mexico, boarded by the Arctic, Atlantic, and Pacific oceans. Particularly Canada is a multicultural, diverse country with two national languages consisting of French, as well as English. Although the language is diverse it is not the only element that changes across the country. In addition, Canada consists of just under ten million kilometers squared of land, which is the second largest landmass in the world. Likewise, Canada has everything from flat grass to beautiful mountains, sparse hills to large valleys with mesmerizing beauty. Something to consider about Canada and its success is the aspects of Canadian society, and what is contributing to the overall well-being of all Canadian citizens making Canada a great country to live in.

Canada is the largest North American continent by land area. It is also the second-largest country in the world in terms of land area. Canada is home to 35 million people. It borders the United States. Ottawa is the capital of Canada. It is also the fifth most populous city in Canada.

Most say the onset of the Great Depression was spurred on by the stock market crash. Although economists don’t think that it was the only reason for Canada being in such a terrible state. In the 20s, people had, in their spending frenzy, bought large quantities of stock though credit, stock that they could not afford. People owed money to businesses and banks, and accumulated debts that they couldn’t pay off. In 1929, when it came time to pay, they didn’t have the money, and profits dropped drastically. The values of the stock became completely worthless. With no money and no jobs, people had to leave their homes either because they couldn’t pay for them, or they moved to search for a job.

One of such events that affected Canada economically is the Drought in the Dust Bowl. The Prairies became the worst place to live in Canada because the price of wheat has dropped from $1.60 per bushel to $.38 per bushel and because of that many farmers abandoned their farms to look for other jobs. Drought returned in 1933 and was five years long with limited amount rainfall which also caused the topsoil to turn into dust and caused dust storms due to too powerful winds. Because of the right conditions thousands and thousands of grasshoppers were born and damaged 80% of crops that remained. It was bad for Canada because it just lost the people who produced on of its primary products wheat and now the Canada has no choice but to buy wheat from other countries and those can price it for whatever they want because Canada is in need. Secondly, the Stock Market Crashed on October 29, 1929 “Black Tuesday.” Many people invested large amounts of money into the stock market because as the value of the stock increased the more money they made when they sold it and to many it became like an easy way to make money. For example, Canadian Marconi, a radio company should have sold at $1 but sold for $28 because the market value inflated. Canada was affected by this because when the Stock Market crashed people who invested hugely into stocks lost large amounts of because they sold them for a fraction of the what they purchased it. People took

Intro: Following the crash of the US market on October 29, 1929. Unemployment rates peaked in 1933 (500,000) which was twice of what it was in 1921. 1 in 5 people were unemployed. The great depression was devastating for Canada due to it dependency on farming natural resources. For example, Saskatchewan experienced record low prices in record history. Provincial income went down 90% within two years. This caused Canada to become an unjust society due to its actions during the depression; it’s treatment of Jewish refugees, and its detainment of Japanese Canadians.

1. a) i) The content of the table is about Canada’s economic and financial situation divided into four sectors: real sector, fiscal sector, financial sector, and external factor. Each of the four sectors is divided into smaller categories. For example: real sector is divided into national accounts, production index, labor market, prices indices. The other three factors are also divided into smaller categories just like the real sector. In addition, this table has the most recent GDP to show the success of Canada’s economy. The overall goal of the data is to show Canada’s recent economic situation.

In October 1929, the stock market crashed in the United States. It may have just crashed in the States, but it affected most of the world, including Canada. The crash caused the 1930's to be a period of great depression for citizens and brought the economy into a state of panic. To boost the economy, Canada decided to cut back on military, Canada even reduced it to as low ws 5,000 full - time military personnel. They cut back on military, which then let them to focus more on family and jobs. Well clearly, this was not enough, because The bank of Canada was also established. It established a minimum floor price of wheat. Agriculuture now, had become the most regolated and subsidized in many developing countries to control the problem of the low prices, and income. The International wheat Agreement outlined quotas to control the prices. The Bank of Canada did this because they feared of another depression, so, this was then used to help prevent another one from happening. The Great Depression was such a defining moment for Canada, because Canada dealt with the issues, without looking for financial aid from abroad. Canadians also learned that, in order to keep the economy stable, the country has to take care of its own political, and economic standings. The events that have had the greatest impact on defining Canada are The

Department of Finance Canada (2009) states Canada has been significantly affected by the global recession and Canadian economy growth began to slow in the fourth quarter of 2008. Real GDP declined by 3.7 percent in the fourth quarter of 2008. Although Canadian economy is being affected by the global recession, the Canadian economy is still better than other industrialized countries (CMA Business Case)

Canada had many great things happen. But, it also had many flaws. Canada didn’t start off very well at the turn of the last century. There was much discrimination against other races. However, after the years of WWI, Canada was becoming more of a place to be proud of. Women began to have more equal positions under the law, there were many new inventions and the Halibut Treaty was created. Between 1930 and 1945, Canada had some setbacks.They sent Japanese Canadians to internment camps, they wouldn’t accept Jewish immigrants during the Holocaust, and there was conscription. After WWII, Canada head in the right direction. All Canadians were able to vote, Family Allowance started, and conditions in the workplace were improved. Overall, Canada

Canada is one of the mightiest countries in the world due to its many unique characters. In the context of economy Canada is a leading competitor for many other giants in the world. As country there are many things to boast about Canada. Natural resources, healthcare, arts, music, and many more made Canada very much popular among other nations. This report discusses and analyse the political, economic and legal characteristics of Canada and its effect on doing business there in briefly.

     Over the past few years, Canada's economy has done comparatively well and has demonstrated some resilience to the fluctuating global economy. However, Canada remains to be relatively less competitive with respect to other developed countries. In this paper I will attempt to take a closer look at Canada's position in the global economy today and examine the relevant issues.