Canada Becoming Americanized?
Oct 17th, 2012 by anthonytse
With Target taking over Zellers in 2013, and Nordstrom taking over Sears Downtown in the near future, it is safe to say that our Canadian economy is slowly becoming Americanized. What has caused this to happen and what affect will it have on the Canadian economy?
According to Huffingtonpost’s Article, the top 3 reason for this are : The blooming Canadian dollar, existing of stores are disappearing and opportunity for retail sector growth.
The Canadian and United States Dollar are basically at par now, this means that we are spending more then the US since about 10 years ago, the Canadian dollar was really low. While shopping in a mall, have you noticed those stores you just never seem to walk by or knew existed? Stores all over malls are slowly vanishing, this is due to lack of sales and recognition by consumers. According to Nasdaq, “GDP growth was 34% faster than the U.S. retail sector and 96% greater than the Canadian economy between 2004 and 2008” This is like a green light to the American Retail stores to come and migrate over to Canada, as there are lots of opportunity available for business growth.
For the Canadian Economy, i believe this is a really good sign, as more companies from US come to Canada, the currency for goods will slowly become more unified. Meaning, instead of heading down the border to get good deals, you will stay in Canada and find the same deals. But with this one can say our political views and government will slowly become Americanized as well.