Impact On Canada/U.S. Trade Relationships. Oct/2005

697 words - 3 pages

Almost every speech delivered by Canadian officials south of the border includes a boast about "the world's largest trading relationship." (Savage, 2005, pg. 29), but now that "Canada can no longer call itself the world's No. 1 seller of goods to the United States"(Scoffield, 2005, p.1) does this make Canada's economy at risk? Some state it will and other state that it will not.Economists have know for the longest time that this would happen as stated, "China has been gearing up for the conveted No.1 sport for a couple of years, with trade values growing in large jumps"(Scoffield, 2005, p.1), but "his is perhaps the wake-up call that people need," said Nancy Hughes Anthony, president of the Canadian Chamber of Commerce. "We have to take it very seriously and be prepared to compete."(Scoffield, 2005, p.1), or as Savage (2005) found:"Canada, the largest trading ...view middle of the document...

2). Since "most of Canada's exports to the United States are a result of cross-border industrial production, Mr. Hart said, and North American supply lines are "deeply integrated" and not about to disappear. "(Scoffield, 2005, p.2), this is outstanding information because the United States/Chinese trade relation can rapidly change at any time while ours will remains constant and stable. "Canada still maintains its historical spot in first place as far as cumulative sales to date for the year"(Scoffield, 2005, p.2). Therefore Canada is at no risk and there is no reason why Canada and China can not share the trade market with each other.It is my opinion that since China is approaching to become the United States main trade partner, that Canada will have a stronger relationship with the United States, as Canada will hopefully strive harder to trade. Scoffield (2005) states that "in July, Canada sold goods worth $20.6-billion (U.S.) south of the border, down from $24-billion in June. China, Meanwhile, drew $21.3-billion for its exports to the United States, up from $21-billion a month earlier.(p.1). Scoffield (2005) also stated the following:While Canada has ceded the top position to China for now, it still maintains the No.1 title for two-way trade. Total trade between Canada and the United States in July alone was worth $39.2-billion (U.S.); total trade between China and the United States that month was valued at $24.9-billion. (p.1)This is very acceptable and a lot better for our economy than the situation China is in, with its lower import volumes. This can only be seen as an improvement, but hopefully in the near future the article will be titled 'China beats out the United States as top exporter to Canada'.References:Savage, Luiza Ch (2005, August 15). The giant is gaining. Maclean's. Toronto:Vol.118, Iss. 33; pg. 29, 1 pgsScoffield, Heather (2005, September 15). China beats out Canada as top exporter to U.S.Globe and Mail. Retrieved October 25, 2005, from http://www.globeandmail.com

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