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A Research Study on Canadian Economy

Low unemployment, free medicine and education, low taxes, one of the world's lowest crime rates, high social security – it's all about Canada. What is the secret of this success, and why is this country considered one of the most favourable places for living and business?

Now Canada is among eight most major developed countries. Canada is ranked the 13th among the countries in terms of GDP. Its economy is the tenth largest in the world. It is the seventh largest producer of gold and the sixth largest oil producer. What has allowed an agrarian country to become a leader in a variety of economic sectors?

First and foremost, it is the enormous size of the country, where each region has gradually been developing its key industry. Thus, Quebec City became an industrial, rail, port and banking centre of Canada. In Ontario, the main source of income was agriculture and mining.

Largely the successful economic development of Canada was due to a quick transit of the industrialisation process. Some regions passed this stage at the beginning of the 20th century, and industrialisation was completely finished after the Second World War. At the same time, large oil reserves were discovered in the province of Alberta. To this day, the province's economy has a higher growth than the rest of the country. The growth of Canadian industry has been accompanied by significant financial activities and development of transport infrastructure. The economy had prospered for the two after-war decades, but the speed of economic growth caused a shortage of skilled labour. The solution to the problem was found in in the 1960s when the country opened its doors to immigrants of all nationalities. Despite a small downturn in the economy in 1970-80s, during the last decade of the 20th century, Canada's economy got to a new level thanks largely to the signing of Free Trade Agreement with the United States, which later was joined by Mexico.

Since the 90-ies the country is on track to building the "open-type economy” - the expansion of the country's participation in the world economic globalisation processes at the same time maintaining economic independence and equality with the United States. The competent management of the country combined with rich natural resources and developed industry has made Canada one of the best economies in the world.

Low unemployment, free medicine and education, low taxes, one of the world's lowest crime rates, high social security – it's all about Canada. What is the secret of this success, and why is this country considered one of the most favourable places for living and business?

Now Canada is among eight most major developed countries.

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Assignment ID
100002576
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CREATED ON
October 18, 2016
COMPLETED ON
October 19, 2016
Price
$42
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