History of Canadian trade Flashcards
1
Q
Trade w/ Asia
A
- Canada traded w/ Japan after WW2
- Japan is known for high quality automobile & electronics
- Canada recently became partners w/ China
- China is known for inexpensive yet well-made products
2
Q
Trade w/ Mexico
A
- Developed since signing NAFTA in 1993
- Goods made in Mexico & US now enter Canada duty-free
- Mexico became Canada’s top 5 trading partners since 2000
3
Q
Trade w/ India
A
- Workforce is generally young and well educated
- Became a major centre of outsourcing & manufacturing
- Lack of infrastructure & widespread corruption are persistent problems
- Indian companies aggressively expanding into in’tl markets
4
Q
Trade w/ Africa
A
- Imports to Canada are very low
- Business opportunities are limited by unstable gov’ts, rural economies, and lack of infrastructure
- Rich in primary resources
- Morrocco and South Africa are beginning to emerge as major trading partners
5
Q
Trade w/ Middle East
A
- Traditionally centered on oil, but commodity is not sustainable
- Political instability and lack of industrialization in much of this region has limited trade
- UAE, Israel and Egypt have established trading relationships w/ Canada that does not depend on oil
6
Q
History of Canadian trade?
A
- explorers from France landed in Canada in 1600s
- Trade w/ First Nations people or fur & food -> sent to Europe
- Successful in’tl business led to establishments of colonies and outposts in Canada: Hudson Bay company & North West company
7
Q
European trade
A
- Demand for raw materials -> beaver pelts, fish, lumber
- 7 Years war led to Canada reliance in England for finished goods
- Many major cities established near ports to faciliate goods
8
Q
Trade w/ US
A
- Needed to become self-reliant
- Invention of steam engine, cotton gin helped rapid growth
- Canada supplied raw materials needed in US
- Us became Canada’s largest trading partner
