MGM101H5 Chapter Notes - Chapter 5: Foreign Direct Investment, Energy Industry, Government Spending
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MGM101H5 Full Course Notes
Verified Note
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Document Summary
G7/g8; a quasi-organization comprising the world"s major fully developed economies. Consists of usa, japan, germany, great britain, france, italy, and canada: transferred to g7/g8 with inclusion of russia, heads meet once annually to discuss major economic, political, and societal issues challenging global marketplace. Canada"s economy moved from primarily agriculture to diversified system. Strong economic factors: productivity gains, strong business investment, technological innovation, moderate wage increases, favorable currency exchange rate. Products that drive canada"s economy; crude oil, wheat, canola, gold and nickel, and sulphur. Growth of economic system relies on current and future economic activity: ability to provide stable environment for economic growth, ensure required business and economic management systems to support organized economic development. Factors essential to economic vitality: sufficient levels of investment, absence of corruption, comparative advantage, low inflation, effective legal system, manageable levels of national debt, national monetary policy and banking system, established factors of production, political stability.
