Why Trade Matters- Trade and the Canadian Economy
Why Trade Matters
There are many factors contributing to why Trade is so important to Canada. Canada’s ability to do business with the outside world has enhanced the quality of life in Canada as we recently were voted the best country to live in six years in a row. The country exports upwards of $400 billion dollars a year with our record year at $474 billion dollars in 2000. Being such a big export country, Canada needs to continue to develop markets outside our borders as many jobs depend on exports. Competing to Win
Trade works in both ways as Canada needs to export goods as well as import goods what we cannot produce. Trade brings in technology and materials needed to create exports and offers Canadians a wider range in purchasing items. It en encourages competitive pricing, creates jobs, stimulates technological advances, and promotes more educated societies. Although there is an element of risk involved in trade, countries can figure out an endless range of win-win situations and deals. Does Canada Have What It Takes
Slowly, Canada has changed from a commodity-based economy to a knowledge-based economy. This is clearly apparent when you look at the percent of commodities exported in the 1980’s compared to the 21st Century. Commodities accounted for 60 percent of Canada’s exports in 1980 while they account for just 30 percent now. A focus on education in past years has helped us develop the knowledge to run modern high tech industries effectively and efficiently. Canada’s Trade Agenda
Canada is currently active when examining the World Trade Organization (WTO) as they want to conduct trade with proper and just rules. Since Canada is a medium-sized
country and consistently competes with large countries, there must be a level playing field where the rules are clear and evenly applied to all. All parties must balance trade goals with a commitment to social justice and a sustainable ecology....
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