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Department
Administrative Studies
Course
ADMS 1010
Professor
Steven Edwards
Semester
Winter

Description
NAFTA Canada gained the most from NAFTA with Canada's GDP rate at 3.6%, growing faster than the United States at 3.3% and Mexico at 2.7%. Canadian employment levels have also shown steady gains in recent years, with overall employment rising from 14.9 million to 15.7 million in the early 2000s. Even Canadian manufacturing employment held steady. One of NAFTA's biggest economic effects on U.S.-Canada trade has been to boost bilateral agricultural flows.1In the year 2008 alone, Canada exports to the United States and Mexico was at CAN$381.3 Billion Dollars and imports from NAFTA was at [42] CAN$245.1 Billion Dollars. The Canadian mainstream has been so unanimous in its recognition of NAFTA's advantages despite a few odd detractors that even former NDP Gary Doer of Manitoba openly praises the benefits of NAFTA. [43] NAFTA has also resolved long-standing bilateral irritants and liberalized rules in several areas, including agriculture, services, energy, financial services, investment, and government procurement. Since the implementation of NAFTA in 1994, total two- way merchandise trade between the United States and Canada has grown by more than 265%. Working hard Think of the great wine-producing regions of the world... France, Italy, California... but what about Canada? Challenged by climate and perception, Canadian wines suffered from a bad reputation. But winemakers have worked hard to improve the quality of their product. International awards, improved standards and government intervention have transformed the industry. The result? Canadian wines are gaining acceptance throughout the world. The World Trade Organization (WTO) is an organization that intends to supervise and liberalize international trade. Arguments against FTA  Free trade is only good for more productive countries.  Free trade hurts high wage countries.  Free trade hurts less productive countries. Canadian Dollar Jean-Michel Laurin, vice-president of global business policy at Canadian Manufacturers and Exporters, said the Canadian dollar is the biggest short-term concern for manufacturers. A volatile currency could affect future job creation since its staff are paid in Canadian dollars. For Schulte Industries, the higher loonie is a mixed blessing. While it erodes profits, it also makes some equipment purchases cheaper. The Englefeld, Sask.-based company, which produces rotary cutters, and rock and snow removal equipment, is looking to buy a new plasma cutting tool, at a cost of about $350,000 (U.S.). “It’s a good time to invest in new technologies that will make us more productive and save us costs in the long run,” said president Kevin Dow. Growth on other countries and US "At the beginning of the second half of 2011, although the world economic upswing still seems to be intact, the outlook has distinctly worsened," the Stuttgart-based company said on Wednesday. "We generally assume that the global economic upswing will continue until the end of the year, although at a more moderate rate." The German maker of luxury cars and trucks, struck a gloomy note on the global economy, saying a continuation of the U.S.'s weak recovery, lack of political agreement on raising the country's debt ceiling, budget cuts in Europe and energy market volatility could hamper growth. Global growth is driving this success. U.S. multinationals are benefiting from branching out into emerging economies such as China and India. “The world is full of challenges, but it is full of opportunities too, and U.S. corporations are finding them.” Yet because overseas profits are driving the performance, there are questions about how many jobs American companies will add at home. The unemployment rate south of the border has started to tick higher again, and that means U.S. consumers will continue to be strapped for cash. US economy DEFAULT U.S. President Barack Obama has warned the government would run out of money if Congress does not extend its borrowing authority by Tuesday — which administration officials and others say would cause a default that could set back the world economy. How a default would unfold immediately appears relatively straightforward. It's the reaction that no one can predict, because it's never happened before. A default would have some "pretty serious ramifications" for the U.S. economy and, because the U.S. is still 20 per cent of world GDP, it would matter a lot to other countries as well, Jack Mintz, Director of the University of Calgary's School of Public Policy Studies told CBC News. How Canada might be affected: • If ratings agencies downgrade the U.S. government's triple-A rating, would Canada also lose its similar rating, given the integration of the two economies? "I suspect no," says Jack Mintz Director of the University of Calgary's School of Public Policy Studies. "Just like if you have a downgrade for a major company,
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