Geography 2010A/B Chapter Notes -Great Lakes Areas Of Concern, Hudson Bay Lowlands, Great Lakes Basin
25 Nov 2012
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Ontario remains the heartland of canada"s manufacturing, despite the recent economic downturn. Two key components of ontario"s economy are forestry and manufacturing. The worst part of the economic decline was in 2008 with the collapse of two principal automobile manufacturers chrysler and general motors. 2009, ontario received equalization payments for the first time, making it a have-not province. In 2006, on contributed 39% of canada"s gdp. Gdp is an estimate of the total value of all materials, foodstuffs, goods, and services produced by a country or province in a particular year. People have also been leaving on for other provinces. Exports from on to the us have dropped a lot. There is no longer an open border, making cross-border manufacturing more expensive. Also, the us implemented the buy america policy in 2009, which was not good for on. Perhaps on relied too much on continentalist trade. Western provinces have outpaced the economic and population growth of on.
