Canadian International Trade Essay

1700 words - 7 pages

Canadian International Trade


Canada is great economic superpower that has yet to reach its potential. As the second largest nation by area, we possess vast natural resources. We are a massive importer and exporter on the world stage, who a play a vital role in the stability of the northern hemisphere. Through Canada’s international trade, we export vast quantities of many different foods stuffs, minerals and manufactured goods like cars, while we tend to import lots of Iron, Aluminum and Steel. Our relations with neighbouring nations have been integral in the success of our trade. In 1994 Canada became a member of the North American Free Trade Agreement or NAFTA with the US and Mexico. NAFTA reorganized Canada’s and America’s trading systems to work as one. The trade issue of recent months is about the rising costs of energy in Canada and in the United States. Newly elected President George W. Bush now is proposing a North American energy initiative for a continental power grid. This proposal puts Canada in a very uncomfortable situation. On the one hand we would love to share our resources and appease our super-power to the south. But on the other we prefer to leave our pristine land alone. The growing trend nowadays is that politicians are the ones wanting to please the Americans by giving away our resources, while it is the activist who is concerned about the vast environmental damage this energy legislation could entail.
The composition and structure of Canada’s trade is an ever changing entity. We are one of the chief lumber exporters in the world. We posses vast oil fields in Alberta, where there are about three-hundred billion barrels of oil as opposed to only two-hundred and sixty in Saudi Arabia. Grains are exported by the ton in Saskatchewan and Manitoba, while hundreds of thousands of automobiles are produced in southern-Ontario and Quebec. Recent patterns in Canadian trade are increasing free trade within the continental hemisphere. With 1994's NAFTA, and this years Summit of the America’s and now George W. Bush’s energy initiates, Canada’s economic brawn is well required.
The growing trend is Canada’s increasing inter-dependance on the economy of the US and the expansion of free trade agreements. NAFTA has brought our economies so close together that when there is a recession or a boom in the US, Canada feels the brunt of it. Also Canada’s long-term economic wealth is more closely tied to the US than before NAFTA. Canada is in a quandary. On the one hand we want to help the Americans with their energy crisis. On the other we don’t want to enter into another trade agreement where Canadian interests will be swept under the rug. In April Canada hosted the Summit of Americas in Quebec City. The leaders of 34 heads of government came to Quebec to extend free trade throughout the America’s. In spite of the protests the politicians tried to hammer out a treaty that would eliminate Tarriffs and trade barriers within the...

Find Another Essay On Canadian International Trade

Investing In Canada Essay

2794 words - 12 pages that Canadian Government can provide to assess Canadian businesses:Department of Foreign Affairs and International Trade (DFAIT)DFAIT promotes and protects the interests of Canada and the common values of Canadians throughout the world. Within its International Trade mandate, DFAIT strives to maintain and enhance Canada's economic health and competitiveness by actively pursuing and promoting Canada's economic and commercial interests with its global

Government Involvement & Subsidy for Canadian TV Drama

2563 words - 10 pages about a marketability of these products to foreign investors and buyers? Following this question, the CRTC is in a difficult position to balance out considerations pertaining to reaching out to an international market for its Canadian products. However, these considerations have to be made paramount, since "there are growing threats from abroad that could upset the current system [upheld by Canadian cultural advocates], threats that cannot be solved

NAFTA - Canadian viewpoint

1819 words - 7 pages bilateral Canada-U.S. trade agreements in 1935 and 1938. However, the 1938 agreement was suspended when the General Agreement on Tariffs and Trade (GATT) was established, as an outcome of the failed Havana Charter and the proposed International Trade Organization. Since 1948, the GATT has served as the main Canada-U.S. trade agreement, as well as the main trade agreement between each of those two countries and other GATT member countries. The

The American Influence in Canadian Popular Culture

2559 words - 10 pages ). "Diversity and Canadian Broadcasting Policy." MediaSmarts. http://mediasmarts.ca/diversity-media/visible-minorities/diversity-and-canadian-broadcasting-policy (accessed January 20, 2014). Durand, Michel. "International trade in culture commodities: A semi-annual review, 2001." Quarterly Bulletin from the Culture Statistics Program 13, no. 02 (2001): 6-10. http://www.statcan.gc.ca/pub/87-004-x/87-004-x2001002-eng.pdf (accessed January 25, 2014

Canada Under American Dominion

1667 words - 7 pages The dawn of the 1970s brought forth a great change in the Canadian attitude towards economic relations with the United States. The oscillation of the Canadian economy, due to the Nixon Shock of 1971, greatly contributed to the rise of Canadian awareness regarding foreign investment; particularly increased trade dependence with the United States. As this awareness gradually began to present itself as paranoia, pressures fell on the government to

The Comparison and Contrast of the Political Ideologies of North Korea and Canada and their International Business Practices

603 words - 2 pages promote foreign investment and trade. Its creation marked the most significant reversal of economic policy in North Korea since 1948.The international business practices of Canada are notable. I have never known Canada to be a major international market, however; according to Canadian International Business Strategy, there is a definite "international competitiveness of the building products sector." Prospective trade partners include, coincidentally

Nafta:Benefits to Canada

1659 words - 7 pages . The agreement has set a path for Canada widening their trade horizons, while also giving them a bigger stage on which to demonstrate their economic expertise and leadership. An advantage for Canada is that the reduction of Mexican barriers will provide new markets and opportunities for Canadian goods and services. Canadian firms will be able to participate in, and expand sales in, sectors that were previously highly restricted, such as autos

The problems of why Immigrants finds it difficult to find employment

1062 words - 4 pages increase their foreign trade and to build a better relationship with the other country. However, new comers have difficulties in finding employment because of their unrecognized foreign qualifications, non Canadian work experienced and the lack of support in the settlement programs where they get help to find employment. Firstly due to the Canadian employer disregard for foreign certifications and qualifications, new comers find it hard to find

Canadian History

1973 words - 8 pages would be because of the fact that we could not sustain our own cultural industry when we did have one, opportunities such as being exposed to the market outside of Canada because we will have lost that privilege only because we were careless with our regulations now. The government might have some conflict because of trade agreements such as, the North American free trade agreement (NAFTA), or the General Agreement on Tariffs and Trade (GATT) but it is the government’s responsibility to continue to maintain the unique Canadian identity Canada has developed through its various cultural industries.

A Brief History of The Canadian Automotive Industry

2469 words - 10 pages industry before the Auto Pact. Toronto: Canadian Broadcasting Corporation, 1978. Online radio clip. Pearson, Lester B. A continental auto industry. Texas: Canadian Broadcasting Corporation, 1965. Online radio clip. Thomas, Kenneth P. “Capital Mobility and Trade Policy: The Case of the Canada-US Auto Pact.” Review of International Political Economy 4 (1997): 127-153. White, Richard. Making Cars in Canada: A Brief History of the Canadian Automobile Industry 1900-1980. Ottawa: Canada Science and Technology Museum, 2007.

1234567890-=

1152 words - 5 pages Introduction The world has changed a lot due to globalization. Now the well-being and prosperity of countries and nations is highly dependent on healthy international trade and investment relationships. The key factor underlying this prosperity is their openness to the global economy. While the global market is becoming increasingly integrated, it is important for the European Union and Canada to succeed in all areas of global commerce. Due to

Similar Essays

Canadian Foreign Affairs And International Trade

2175 words - 9 pages Forums. Retrieved May 08, 2014, from Foreign Affairs and International Trade Canada: http://www.international.gc.ca/cip-pic/organisations.aspx Government of Canada. (2013). About Us - Invest in Canada. Retrieved May 08, 2014, from The Canadian Trade Comission Service: http://www.international.gc.ca/investors-investisseurs/iic-iac/about_us-a_notre_sujet.aspx Gurría, A. (2008). The Global Financial Crisis. New Zealand International Review, 17-19

Analyzing Canadian Energy Trade Policy Through Two Lenses

650 words - 3 pages and Chinese trade regime, it can be seen clearly that Canada’s energy policy is more market orientation than Russian and Chinese state control energy trade regime. There are several constraints makes it is harder to do Sino-Canadian energy trade than Sino-Russian energy trade, such as slow privatization process of Chinese oil companies, political tension in Sino-U.S. relationship and no international regulation protection for trading with China

Globalization: The European Union, The Asean Group, And Nafta

3502 words - 14 pages active participation in Canadian industries and created widespread interference in Canada's energy markets.8 The program decreased the George, 3 value of foreign oil investments holdings in the nation through a series of policy methods. Canadian firms took advantage of the opportunity to buy foreign oil holdings for a cheap price. The National Energy Program created a bad reputation for Canadian trade because it violated the international

The Canada United States Free Trade Agreements

1215 words - 5 pages initial stages of the economy need protection against international competition to allow them to establish themselves.5) Cultural ImperialismMany arguments over the influence of Latin American culture on Canadian cultural trade and identity exist. In particular, some worry about industries in relation to French Canadian industries, such as French wines.6) Free trade with a lower standard country threatens the maintenance of higher business