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7 Cards in this Set
- Front
- Back
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Who are Canada’s major trading partners? What is our balance of trade with them?
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Mexico and USA. NAFTA
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What did the Treaty of Washington 1871 state?
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Settled border disputes between the two countries. Settled fishing and navigation on the St. Lawrence River and Great Lakes. Canada and US had trouble agreeing on certain parts of the treaty.
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Why was the St. Lawrence Seaway constructed?
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the French realized that to improve fur trade and strengthen the colony, waterways would eventually have to be built.
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How does the American economy affect Canada?
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Jobs. Salaries for Canadians. Buy goods and services with this money. Businesses supported by foreign money pay taxes on their profits to Canadian governments. Foreign capital helps Canada develop resources. Bring in advanced skills and machinery. Canadians buy shares in many foreign-owned businesses. Profit from good investments. Major decisions are made in the USA. Managers are often American and ideas and inventions come from the USA.
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Who belongs to the Commonwealth?
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It is a loose association of countries made up of Britain and its former colonies. Consists of Britain, Canada, Australia, South Africa, New Zealand, India, Pakistan, and Sri Lanka.
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What does Free Trade mean?
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Trade between nations without protective customs tariffs.
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List the advantages and disadvantages of the NAFTA agreement?
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Advantages: Benefits Canada by being more attractive to foreign investors. Concentrate on high tech jobs. Allowing Mexican people to rise in some areas of the economy. As more companies are established this will allow Mexico’s economy to go up. More productivity sales, and profit. Canadian industries forced to become stronger to survive. Disadvantages: Will cost the people of Canada their jobs. Fewer social benefits. Poverty levels will go up. Hazardous to the employers working in the companies. The labour would be cheap, but the material would be of low quality.
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