Almost every speech delivered by Canadian officials south of the border includes a boast about "the world's largest trading relationship." (Savage, 2005, pg. 29), but now that "Canada can no longer call itself the world's No. 1 seller of goods to the United States"(Scoffield, 2005, p.1) does this make Canada's economy at risk? Some state it will and other state that it will not.
Economists have know for the longest time that this would happen as stated, "China has been gearing up for the conveted No.1 sport for a couple of years, with trade values growing in large jumps"(Scoffield, 2005, p.1), but "his is perhaps the wake-up call that people need," said Nancy Hughes Anthony, president of the Canadian Chamber of Commerce. "We have to take it very seriously and be prepared to compete."(Scoffield, 2005, p.1), or as Savage (2005) found:
"Canada, the largest trading partner of the U.S.
since 1946., now absorbs roughly one-fifth of American exports. But current growth rates suggest China/U.S. trade could hit US$600 billion, by 2008. "My guess is that everyone is eventually going to find China as its greatest trading partner," muses James Blanchard, the former American ambassador to Canada."(p.29)
Canada needs to do something to become the essential partner again with the United States to save our economy.
As Scoffield (2005) found "because China and Canada differ so much in the types of exports they sell to the United States, Canada should not feel threatened by China's ascent"(p.2). Since "most of Canada's exports to the United States are a result of cross-border industrial production, Mr. Hart said, and North American supply lines are "deeply integrated" and not about to disappear. "(Scoffield, 2005, p.2), this is outstanding information because the United States/Chinese trade relation can rapidly change at any time while...