1. General Information History Canada-US Free Trade Agreement Industries
Unit 18
Canadian Economy
General Information
History
Canada-US Free Trade Agreement
Industries

2. General Information
Canada is a leading industrial nation with a highly developed economy, one of the world's wealthiest nations, and a member of the Organization for Economic Co-operation and Development (OECD) and Group of Eight (G8).

3. Three Influential Factors
Physical Geography
The United States
Government’s Intervention

4. History Pre WWII—The National Policy by Macdonald
1950s & 1960s—the Golden Age, a time of high employment, low inflation and growing income
1970s—oil crisis & recession
1980s—the National Energy Policy, economic recession
1990s—brief recovery & economic slump
Canada is a mixed market or social market economy.

5. Canada-US Free Trade Agreement
This agreement was signed by President Reagan and Prime Minister Mulroney on January 2, 1988 and, after implementing legislation was enacted in the United States and Canada, the Agreement entered into force on January 1, 1989.
Its main purpose is to eliminate all tariffs on trade between the U.S. and Canada by January 1, 1998.
A few years later, it was superseded by the North American Free Trade Agreement, which included Mexico as well.

6. Industries Three main economic sectors
Primary industry—natural resources
Secondary industry—manufacturing
Tertiary industry—service

7. Agriculture Unsuitable farming conditions Agricultural importance
The prairie provinces—wheat, cereals, feedstock, cattle (50%); subsidy policy
Eastern provinces of Quebec & Ontario—dairy farms (4/3), hog farms (2/3)
New Brunswick & Prince Edward—poultry, potato
British Columbia—fruits & vegetables
Agricultural export & import

8. Natural Resources
Canada has considerable natural resources spread across its varied regions.
British Columbia—the forestry industry
Alberta and Newfoundland and Labrador—the oil industry
Northern Ontario—mines
The Atlantic provinces—the fishing industry

9. Manufacturing
Manufacturing products: paper, technological equipment, food, clothing
Technological successes
Nuclear technology—electricity
Hydroelectricity
Telecommunications
Space technology—Canadarm

10. Service
Banking, health care, construction, communications, education, tourism, government
Export
GATT—The General Agreement on Tariffs and Trade关税及贸易总协定
Free Trade Agreement

11. Group of Eight
Leaders of the G8 group of industrial nations have ended three days of meetings in the German Baltic Sea resort of Heiligendamm with a compromise on global warming and renewed pledges for Africa. VOA's Sonja Pace reports from the summit.
Canada, France, Germany, Italy, Japan, Russia, the United Kingdom, and the United States