Candian Economy

Essay by PaperNerd ContributorUniversity, Master's February 2002

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Canada is an affluent, high-tech industrial society, and closely resembles the US in its market-oriented economic system, pattern of production, and high living standards. Today Canada is primarily industrial and urban, compared to its past rural economy. Unemployment is falling and government budget surpluses are being partially devoted to reducing the large debt. The US is one of its most important trading partners so it can keep a strong economy. Canada is also very politically stable with having a strong government and having a good economy. There are very few trade barriers that would keep the US from trading with Canada. Inflation rates are considerably low at .9% and they do have a large labor force of about 16 million people, and there is an unemployment rate of 7.8%. So Canada has a very strong economy and is a very stable country.

Mexico is the world's 13th-largest economy, its eighth-largest exporter of goods and services, and fourth-largest oil producer.

It is becoming a more stable country and it has a rapidly growing economy, which is helping out the country a lot. There is also a steady trend towards political liberalization and demands for greater democratization over the past decade. Mexico's gross domestic product rose to $484 billion last year, and economic growth surged to 7.8% in the first half of this year. A flexible exchange rate policy has been the Mexican government's key economic policy to create conditions for a strong and stable economy. Also the high level of international oil prices and continuing strong economic growth in the US, are also contributed to the strong economy. There is a higher exchange rate in Mexico compared to Canada with it at about 9%, but it is going down slowly, and but they do only have a 2.2% unemployment...