Canada vulnerable to global downturn

Article: http://business.financialpost.com/2011/09/25/canada-vulnerable-to-global-downturn-harper-warns/

The Canadian Prime Minister, Mr. Harper claimed, “The Canadian economy’s export-driven base is “very vulnerable” to the global economic slowdown.” Canada’s economic strength is pretty good compared to other countries, except its export. That is the main factor that affects Canada the most. Mr. Harper and British Prime Minister David Cameron appealed that key nations should take actions to deal with debt crisis in Europe for the sake of avoiding impacts from it. France received an open letter from South Korea, Mexico, etc, because they want France to “ensure global stability by reducing debt level in the Euro zone.” Canada is America’s largest energy supplier (oil); however, the recent request to go with $7-billion pipeline raised some environmental concerns in U.S. Fortunately, there would be no intensive influence to U.S. natural resources by the study from U.S. State Department. Canada’s economic situation would be hugely hit if the United States refused to construct the pipeline.

 

From my point of view, Canada’s economic policy is strong, and it makes the country “benefit from both a modern industrial sector and a strong commodity sector.” Nevertheless, its export is still vulnerable, which requires the government to adopt more efficient measures in order to prevent it from debt crisis.

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