Chapter 10 of 11 · study notes
Canada's Economy
This short chapter explains how Canada earns its living: through trade with other countries and three main kinds of industry. It also covers Canada's very close trading ties with the United States.
A trading nation
Trade has always been central to Canada. Buying and selling goods is what drives the economy forward.
Without trade with other countries, Canadians could not keep their standard of living.
Canada started free trade with the United States in 1988.
In 1994 Mexico joined as a partner in the wider North American Free Trade Agreement (NAFTA).
Three main types of industry
Service industries give people many kinds of jobs, for example in transportation, education, health care, construction, banking, communications, retail, tourism and government.
Manufacturing industries make goods to sell at home and abroad, such as paper, high-tech equipment, aerospace technology, cars, machinery, food and clothing.
Natural resource industries are forestry, fishing, agriculture, mining and energy. They have been important in Canada's history and growth.
Trade with the United States
The United States is Canada's largest international trading partner.
Canada and the U.S. are close: each country is the other's biggest trading partner.
The trade between Canada and the U.S. is the biggest two-country trading relationship in the world.
Every year Canada sells billions of dollars of goods abroad, including energy, industrial goods, machinery, equipment, automotive products, farm, fish and forest products, and consumer goods.
Millions of people cross the Canada-U.S. border safely each year. It is traditionally called "the world's longest undefended border".
The Peace Arch at Blaine, Washington, stands for the close ties and shared interests of Canada and the U.S. It carries the words "children of a common mother".
Reading isn't the same as remembering.
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