The economy of Canada is among the largest economies in the world in relation market exchange rates measured in US dollars. Canada is therefore one of the wealthiest nations in the world. This country is ranked eleventh largest economies in the world and it is one of the members of the Organization for Economic Co-operation and Development (OECD).This country is also a member of Group of Eight called G8.The service industry dominates the Canadian economy like the rest of the developed nations. The service industry in Canada therefore employs around 75% of the Canadians. The Canadian economy has also ...
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Drowning in Debt: How Does the U.S. Solve its Debt Crisis?
Scott Walterhoefer
Abstract
Can the United States solve its debt crisis? That is the daunting question that currently confronts our nation and the manner in which the “powers that be” attempt to deal with this problem will dictate the political and economic landscape for the foreseeable future. The sheer size of this debt (roughly $16 trillion) is so massive and seemingly out of control that it is nearly impossible to fathom. This paper will examine this debt and the factors that caused its exponential rise over ...
1.1 Introduction
Recent growth and developments of the U.S economy indicates that the manufacturing sector is still leading. The impressive gains indicate surprising developments in the industrial sector with doubling previous rates in output. However, the U.S manufacturing sector has seen high rate of shifting to a dangerous move of depending on imports to acquire raw materials and intermediate goods for their industries. This is especially from upcoming economies such as China that are well sourced with these materials. The raw materials mostly imported are for automotive industries and majorly include rare earth metals and minerals such as cobalt, ...