Also, after World War 1, America took over as a leading producer as many European industries had suffered greatly because of the war. Government policies meant that businesses could thrive without government interference. World War 1 led to new markets being opened to America. This resulted in America developing new industries and new industrial ideas. These new industries meant that Americans believed that America was the most powerful country in the world.
At the turn of the 20th century, Canada's performance in World War I has allowed it to earn respect and recognition, as a strong nation and not just a British colony. During the period between the 2 world wars, Canada experienced enormous economic growth in the 20's and terrible poverty in the 30s. These drastic ups and downs forced the government to take a more active role in people's lives. Economically Canada boomed in the 1920s with new inventions like automobiles and the tractor. Canadian ties with US became closer because of the technological advancements.
There are many contributing branches of the sector that allow it to be successful. This is shown through the production and manufacturing of vehicles, as well as the sale of the vehicles. The automotive industry has had a significant impact on Canada’s economy over the last 10 years. If the production and sale of domestic vehicles were to decline, Canada’s economy to be severely crippled and fall back into a recession. Canada’s automotive industry was officially declared in 1914.
This would appreciate the dollar because Canada would need the U.S. currency to invest in our country. Canada is running a constant trade surplus. We must also look at the current account balance of Canada. It decreased drastically from 1996 to 1997. This, most likely, means their imports were greater than their exports.
The next thing the USA thought was important to get was Protection, and federal revenue; they also thought to raise tariffs. Also, cotton manufacturing helped with independence because it made British the largest the largest industry. North America figured that cotton and wheat would not be enough to export, also the market seemed to perform better than the staple theory. (Allen, 81) The rise in GDP shows that the have advance and are now capable of increasing productivity within itself. Also, the first automatic flour mill was built along with several other technologies.
The Model T Ford was invented in 1908 and was originally only bought by the rich. The Model T was slick and appealing as opposed to the older design of cars. After the war when prices dropped, productions skyrocketed because common people could afford to buy them. The assembly line for the Model T’s gave many Americans seeking jobs after war an opportunity for work. Not only did sixteen million Model T’s sell by 1927, but the automobiles popularity lead to the construction of more roads and highways through the funds of the public.
These economical, social, and legal changes helped Canada mature into the country it is today. The economic progress Canada made after the war lead to the growth of the country. New industries emerged from innovations of products like automobiles, radios, television, digital computers and electric typewriters (Aitken et al., 315). Canadians quickly adapted back to the “buy now, pay later” strategy rather than careful budgeting during the Great Depression (Liverant). Almost everything that Canadians did was influenced from new inventions; television was the most influential.
Grains are ex... ... middle of paper ... ...be tempered by their desire to be a wealthy nation as well. Becoming a wealthy nation means becoming economically dependant on the US. Foreign ownership is on the rise in Canada, our vast natural resources up for grabs by the energy hungry US and there are less and less restrictions every day for trade within North America. NAFTA has created a good environment for Canada thrive, exports are increasing and we are exporting a safe amount, as not to deplete or decimate any one of our natural resources. Canada is in a good position.
There was also a great persuasion for Canadian consumers to buy Canadian made items because it helps increase jobs in Canada. Another reason to why American ties helps with the Canadian economy is because America is Canada’s biggest trading partner. Considering the geographic position between Canada and America, in order to get across ones border there is only a need to cross land with a vehicle. Both of the countries are in the... ... middle of paper ... ...two countries did not help each other out, we would not know the world as we know it to this day. Works Cited Bolotta, Angelo, Charles Hawkes, Fred Jarman, Marc Keirstead, and Jennifer Watt, Canada: Face of a Nation.
The result of the Second World War fundamentally changed Canada and its economy started booming. There are many reasons for this change and if you remember, World War I also made a big impact on the development of Canada. However, in the next few paragraphs I will talk about how Canada gained much more respect and autonomy from the Second World War than ever before and also the change from a country into an industrialized nation. After greatly contributing to the war, especially in the Battle of the Atlantic, Canada ended up having the 3rd largest navy and 4th largest air force. Now, for such a small nation of only around 11 to 12 million, this was a large military force.