3.1 Canada on the world stage 

NOTES from textbook

Canada is a large country with a small population

Canada’s GDP by sector

Canada’s economy is based primarily on the service industry

The service sector is the largest employer in Canada

Service sector 70%

Manufacturing sector 28%

Agricultural sector 2%

Canada’s competitive advantage

Competitive advantage: A product that a country or company is better at producing than its competitors.

• Countless Canadian products and business became domestically success only after achieving international success.

  ==Positive aspects include==

• Increase employment

• access to better technology

• new products & services

• diversity of influence on Canadian culture

Banking, technology, entertainment

Negative effects on competitive advantage

• Loss of manufacturing jobs
• sale of unsafe products
• shift away from Canadian made products and culture

Canada’s banking industry

Canada’s banking system is designed to handle the ups and downs of the business cycle

Canada is the country with the soundest banking system

Thanks to regulations in Canada’s banking system, banks in Canada were not as badly affected by the 2008 recession.

Canada’s banks excel in their capital markets divisions:

• Help to raise money
• Access markets
• Manage risk
• Purchase/sell assets
• Buy and sell stocks, bonds and commodities

Capital Market:

The “big 6” banks

• Royal Bank of Canada (RBC),
• TD Canada trust,
• CIBC,
• National Bank
• BMO,
• Scotabank

Canada’s service industry

• The world’s 16th largest exporter in services in 2016
• Financial services, e.g., banking and insurance also architectural, engineering, and other scientific and technical services.

Canada’s cultural industry

Cultural exports in the following areas:

• Books & Ideas

• Movies & TV

• Music

• Visual art

• Theatere

  The cultural industry provides employment for skilled workers and is a growth industry in Canada

advantages: Employment, entertainment

Canada Exports: Entertainment (Cirque du Soleil)

Why does the the Government of Canada and provincial governments provide funding to support Canada’s cultural industry? The government supports cultural industry is because Canada doesn't have an identity of their own since they're made up of different cultures so they spend money on having multiple count cultural Industries because that's what Canada is all about.

==Advantage & Disadvantage of this support:==

Advantage: Seeing different stories being told/being multicultural

Disadvantage: Canada still not having a culture on their own and solely rely on others.