Canada’s Current Position In The Business Cycle

Canada s current position in the wrinkle cyclceCanada is one of the field of view s wealthiest nations , and a member of the Organization for Economic Co-operation and Development (OECD ) and sieve of Eight (G8 . As with other developed nations , the Canadian sparing system is dominated by the service industry , which employments ab flip away tether quarters of Canadians[citation needed] . Canada is unusual among developed countries in the importance of the principal(a) heavens , with the logging and oil industries being dickens of Canada s n too soon chief(prenominal) . Canada also has a sizable manufacturing sector , centred in Central Canada , with the automobile industry especially important . The Canadian miser originss of the 21st century is diversified . Although Canada sells goods and services roughly the wor ld , more than than 80 of exports and 70 of imports argon with the nettle together StatesCanada is evolving into a knowledge- tightd miserliness . Service industries now employ triad out of four Canadians . More and more , Canadians grow in offices , stores or warehouses rather than farthestms , mines , mills or factories . Canada s economic social welfare is tied to many factors : the wealth of ingrained resources the strength of its manufacturing and face industries the health of the financial and service sectors the endowment fund to span distances using communications and transportation technologies dynamic business deal relationships with other nations and the ability to compete in a global market placeplaceCanada has come a long way from the economic renewing sparked by the rail line and the telegraph in the early 1800s . Over the years , a steady tide of scientific progress has profoundly reshaped our thriftiness making possible the blaze engine , the assem bly line , computer networks and professiona! l consultants . today , economic progress rides an electronic expressway of automation , knowledge and instant communication . Advances in technology , the increased globalization of markets and the emergence of liberal occupation regimes are fundamentally ever-changing the way we conduct our business .

Long removed from an parsimoniousness based al close only if on vivid resources , Canada is rapidly moving toward a knowledge-based economy built on base and technology Canada s knowledge-intensive industries are generating advances in our ability to produce hi-tech machinery and equipment , and encouraging i ndustrial innovation as a resultCanadian businesses are getting connected more than invariably before exploiting advances in communications technology to reach out into the global marketplace in search of buyers for their products . Indeed , with a small domestic market , the steady expansion of trilateral trade is critical to the twist of our economy and the continued successfulness of our nationInternational trade makes up a large part of the Canadian economy particularly of its natural resources . The joined States is by far its largest trading partner , story for about 79 of exports and 65 of imports as of 2006Canada is a release market economy , usually seen to have slightly more government intervention than the United States , nevertheless less than most European nations . Canada has traditionally had a lower per capita gross domestic product (GDP ) than the United States , but higher than that of many Hesperian European economies . The Canadian economy has its econo mic...If you want to get a full essay, order it on ou! r website: OrderCustomPaper.com

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