History Of Canadian Trade Flashcards
First example of trade in Canada:
When French and English people traded with the First Nations people in Canada for fur and food.
Examples of trading supplies that the First Nations provided the English and French:
- fur
- food
- beaver pelts
- lumber
- blankets
- rifles
Why does Canada have a stronger relationship with England than France?
In the 7 Year War, France was defeated by Great Britain and thus Canada became very reliant on materials from Britain.
Why were most Canadian cities built beside major waterways?
At the time, materials of trade arrived and left Canada by ship, so water was a mode of transportation for goods .
How did the USA change after becoming independant from Britain?
The USA became self reliant and relied less on imports and more on their own manufacturing of commercial agriculture.
How did the USA become more industrialized?
The USA relied on their development in the cotton industry and clothing making.
Define Balance of Trade:
Balance of trade (BOT) is the difference between the value of a country’s exports and the value of a country’s imports for a given period.
Surplus
Extra material/money left over after business or budgeting
Deficit
Occurs when one spends more than they should
Balance of trade equation
value of exports - value of imports
Tariff
a tax that countries place on imports in order to make domestic goods competitive
Emerging markets
- India (multinational indian companies)
- Africa (abundance of raw materials)
- The Middle East (commodity oil)
Japan & Canada
Japan became trading partners with Canada after it recovered from its bombing in 1940. Japanese factories began to produce electronics like TV and radio, and computers.
China & North America
Multinational North American companies rely on the lack of human right laws in China and take advantage of the cheap abundant labour. Now, 2/3 of Chinese exports are from North American investors.
