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Essay / Research Paper Abstract
5 pages. This paper addresses the issue of international competition in Canada. Canada is experiencing more and more competition from other nations even within their own country. The question here is whether this is healthy competition or is it damaging the Canadian economy? This paper explores both sides of the issue and comes to a conclusion as to whether this foreign competition is harmful or helpful to the economy of Canada. Bibliography lists 9 sources.
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5 pages (~225 words per page)
File: D0_JAcanada.rtf
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own country. The question here is whether this is healthy competition or is it damaging the Canadian economy? This paper explores both sides of the issue and comes
to a conclusion as to whether this foreign competition is harmful or helpful to the economy of Canada. FOREIGN COMPETITION Canada is experiencing an upward surge of competition from
foreign markets in many different industries. This competition is, in many cases, taking place on Canadian soil. There are of course two factions here, those who say that
Canadas economy is much healthier with the influx of foreign dollars. There are also those who say that the foreign competition is driving down the price of their own
dollar and that the foreign competition is nothing but disaster for the economy of Canada. One example is the banking industry that has been opened up to foreign competition by
the federal government. Many people were pleased to see this happen but there are arguments against the action as well. Fred Buhler, chairman and CEO of Bank of America
Canada states "I think theres nothing better than competition for keeping everybody focused" (Middlemiss 32, 1997). One area that will be helped is in the risk market. Buhler says
foreign banks "bring an appetite for risk, especially in the international markets, that may not be shared by domestic banks" (Middlemiss 32, 1997). However with all of this increase in
the banking competition in Canada there came an underlying feeling of distrust against the banking industry in general. The end result of this saw many foreign insurance branches pulling
up stakes in Canada to go to more lucrative places such as the United States. Competing with the banks just wasnt worth keeping their branches in Canada open (McElroy
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