MGTA05H3 Lecture Notes - Lecture 11: International Business, North American Free Trade Agreement, Competitive Advantage
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MGTA05H3 Full Course Notes
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Canada was founded by european traders who came for fish, lumber and fur; because we had something they did not. Canada = open economy = open to trade; because it raises living standards. There are closed economies like north korea who think that your mind will be corrupted if you watch american movies, if you import italian clothing etc; what your country makes is what"s good for you. Imports: we get french perfume, they get canadian dollars. Exports: they get canadian oil, we get euros. Making stuff that other people want is really important for canada exports create jobs in canada. When you have a one big customer, you got to hope that he likes you and you like him (the states)! The reason why we trade with america is because they speak the same language as us, and they live right next door and nafta. **nafta: north america free trade agreement (1994) ** good saq final!
