Canada shares its border with the United States and it is the second-largest country in the world. It stretches from the Atlantic Ocean to the Pacific Ocean and then northwards into the Arctic Ocean. Canada’s economy is termed as a mixed economy and it is one of the suppliers of agricultural products in the world.
A great amount of wheat and other grains is produced in the Canadian Prairies. Big deposits of natural gas and oil are found along with Atlantic Canada. Canada also produces Zinc, uranium, global gold, nickel, lead, and aluminum in large amounts. Canada experienced a drastic economic growth between the years 1993 and 2007 but in the year 2008, the economy went into severe recession (Myles). As a result, the country experienced a fiscal deficit for the first time in the year 2009.
With the lending practices, Canada has been able to recover from the financial crisis. With Canada’s economy, there has been a potential failure of the capitalist economy. This essay paper is aimed at exploring the economy of Canada and more specifically the aspects of the Canadian economy that suggests a potential failure of a capitalist economy.
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