The Importance of Trade Globally-Canada in the Global Economy

In: Business and Management

Submitted By ntountou
Words 2136
Pages 9
Contents

1. Introduction. 3

2. The importance of trade globally. 4-5

3. Gains from international trade in Canada.

• Trade and specialization. 6

• Trade domestic competition. 7-8

• Trade and productivity in Canada. 8-9

• Trade and prosperity in Canada. 9-10

• Trade and wages. 10

4. Internal trade barriers. 11-13

5. Conclusions. 14

6. References. 15

INTRODUCTION

Canada has always been a country engaged in trade, although its inhabitants were not very willing to deal with it. Historically, Canada was a very large area, bigger in size in contrast with the number of residents. For this reason, there was always been a need to export the excess products. This situation slowly helped Canada to adopt commercial policy measures and the development of its commercial activity. In the last century, Canada has turned into a world sizable commercial power and has created a national economy that competes other great powers in the world trade.

Canada relies in a big extend on trade in order to maintain living standards and the incomes of its citizens. It is remarkable that its exports in 2011 reached $3.000.000 per day while the gross domestic product in 201…...

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