This website uses cookies to ensure you have the best experience. Learn more

Canada Under American Dominion Essay

1667 words - 7 pages

The dawn of the 1970s brought forth a great change in the Canadian attitude towards economic relations with the United States. The oscillation of the Canadian economy, due to the Nixon Shock of 1971, greatly contributed to the rise of Canadian awareness regarding foreign investment; particularly increased trade dependence with the United States. As this awareness gradually began to present itself as paranoia, pressures fell on the government to pursue more nationalistic policies and mandates, which would eventually allow the nation to break free of American domination. Such attempts by the government included the Third Option Policy, the Foreign Investment Review Act (FIRA), and the Canadian Radio-television Telecommunications Commission (CRTC), all of which heavily relied on the compliance of the population to succeed. In the end, while it was the general intent of all Canadians to break free of American domination in the 1970s, the lack of national commitment to the respective mandates put in place by the Canadian government resulted in the failure of this plan.
The Third Option Policy was a mandate put into effect by the Canadian government to encourage the diversification of Canada’s external relations. This was to be done by scoping out and developing ties with economic markets outside North America, namely those of Japan and the European Community members. However, this policy was abandoned in less than a decade with talks of developing a free trade agreement with the United States, completely reversing the objective of the Third Option Policy. Some attribute the failure of the policy to the fact that it did not have the backing of the Canadian private sector, all of whom collectively felt that there were simply not enough incentives provided by the government to compensate for them having to balance the costs of expanding economic relations outside North American markets. As a result of their disagreement with the plan, economists noted that the proportion of Canadian exports going to the US stayed well over 65% throughout the 1970s, while the proportion of exports going to countries like Japan and members of the European Community changed infinitesimally in comparison, with numbers in the 8-10% range. (Mace and Hervouet 401) Nevertheless, it would be unreasonable to hold the Canadian private sector wholly responsible for the limited increase in economic dealings with Japan and the European Community members, as it was a well-known fact at the time that Europe was in “recovery mode”, battling high unemployment rates and soaring commodity prices (“oil shock”). Due to its feeble economic condition at the time, Europe was able to do nothing more for Canada than to maintain the status quo, which had decreased significantly since the end of World War Two. Japan’s foreign petroleum-dependent economy was in more or less the same condition of shambles and tatters, as it had been hit the hardest by the world oil crisis of 1973. Seeing conservation...

Find Another Essay On Canada Under American Dominion

Canada Economic Problems and Policies Essay

1040 words - 5 pages signed in 1965 under the agreement that Canada will remove tariffs on cars, buses, trucks, buses and automative parts which ultimately was helpful for American car Makwers. In retrun the three giant car makers in US- Ford, Gm and Chrysler assured on production levels and also that of every 5 cars, 3 will be produced in Canada. Answer 15) Canada Pension Plan is the programme of federal government under which the government mandates all th employed

Mercantilism: notes and terms Essay

1085 words - 4 pages Mercantilism--Under mercantilism, the government directed all economic activities within its borders, subordinating private profit to public good. In particular, government tried to minimize imports and maximize exports. England applied this doctrine to America. But to make the system work, Britain would have to control America too, keep it from trading with other partners.--But many English attempts at controlling American trade = unenforced. 1

Sir John A. Macdonald

2035 words - 8 pages Kingston in the Legislative Assembly of Canada, and succeeded. In 1846, John A. was named a Queen's Counsel, in 1848 he was appointed Receiver General, and in 1854 he became Attorney-General of Upper Canada under the McNab-Morin government. As MacDonald's political life was racing to the top, his personal life took a turn for the worse. When on December 28, 1857 his beloved wife Isabella died. After the tragedy of his wife's death, and being

Canadian Branch plant economies

3007 words - 12 pages . Canadainternationalbureauofstatistics/dominion/quart/dev/icj.html October 23, 2001). A majority of these were American owned. The phenomenon known as the branch plant economy was now evolving in Canada. As the American economy expanded in the 1950's and 1960's so too did the branch plants in Canada."In 1965 George Grant, a writer, wrote a book called Lament for a Nation in which he believed that Canada's potential for greatness had sadly passed

Defining Moments

818 words - 3 pages caused Canada to become more independent and govern itself. The Balfour Declaration was the first step towards Canada's independence from the British Empire. Before 1926, all of the colonies under the British Empire had practically no control over themselves. Britain controlled most of their internal and external affairs. Arthur Balfour said that Britain controlling all of the colonies would not work in the long run, so Balfour wrote a

Field trip report

746 words - 3 pages For my field trip report I had the pleasure to sit down with Investment Advisor HarjGrewal, BA (Econ), CFA, CBV, CFP from RBC Dominion Securities. Harj has a diversebackground in investment banking and finance. Harj currently holds a CharteredFinancial Analyst designation along with Certified Financial Planner, and Charter BusinessValuator. Through his career, Mr. Grewal has worked various different positions. Harjoriginally started off as an

Canada’s Values

2438 words - 10 pages culture because all of these provinces joined together, with different races and beliefs, under one flag to achieve their nationality and pride. One of Canada’s core values is freedom and independence. As a former colony of Great Britain, Canada has developed independence as a very important core value. Canada has always strived for full independence from Britain since the Canadian Confederation in 1867 and the creation of

The Arts in Canada

2454 words - 10 pages (FTA) came into effect on 1 January 1989. Under its terms, Canada and the United States agreed to eliminate tariffs on goods and services over a ten-year period. (b) the NAFTA (1992) In 1992, the North American Free Trade Agreement (NAFTA) came into effect. Brian Mulroney appeased Canadians' concern about their national culture by inserting a toothless "cultural exemption" in the FTA and later the NAFTA. Canadian cultural industries are a

The Poltical Stuggles Facing Newfoundland prior to Joining Canada, 1864-1949

1459 words - 6 pages Newfoundland joined Canada in 1949, making it the last and most recent province to become part of the country. Newfoundland had the opportunity to enter into Confederaton in 1867, when Ontario, Quebec, NewBrunswick and Nova Scotia first formed the dominion but decicided to remain an independent political entity, under British control. This decision also reflected the opposing political views between the colony’s Conservatives and Liberals. Over

Canada's independence

1058 words - 4 pages A century ago, Canada was under control by the British Empire. The battles we fought the treaties we signed and the disputes we solved all helped us gain independence from our mother country “Britain”. Canadians fought a long battle protecting others, and from these battles we gained our peaceful reputation and our independence from Britain. Canada became a nation on July, 1st 1867. Although we were an independent country, our affairs and

Canadian Flag

1038 words - 4 pages Prime Minister understood from the beginning that this flag would finally show that Canadians would be proud of who they are. On Canada day, which was known as Dominion Day, citizens carried the flag, painted it on their faces, and demonstrated patriotic pride. Everyday, in Canada, people use the flag to show pleasure about the country they live in. The flag also marked a change in Canada’s relationship with Britain and the British Empire. Over

Similar Essays

Canadian Confederation 1867: Canada Becomes A Nation I Failed To Express Earlier, That I Was Restricted To A One Page Essay For Each Of These History Essays

534 words - 2 pages ; thus, this day was to mark the beginning of Canada's nationhood. Under the BNA Act, the Dominion of Canada was to consist of four provinces. These provinces were the following: Ontario, Quebec, New Brunswick, and Nova Scotia. The BNA act additionally stated that the Dominion of Canada's Parliament was to be composed of the following three elements: the head of government, the monarch's representative, and two levels of legislature - an Upper

Newfoundland's Entry Into Canada In 1949

1601 words - 6 pages Throughout Newfoundland's independent history, the former dominion has struggled for its existence. After World War Two, the people of Newfoundland had to decide how to govern themselves. This hesitant decision made by a slim victory concerned not only those living in Newfoundland, but also Canada and Britain. The purpose of this essay is to explain the nature of the debate that accompanied Newfoundland's entry into Canada in 1949

National Investment Banking Competition International Investment Banking Assignment

1544 words - 7 pages of the model. © NIBC 2017 Western Canada Conference | M&A Simulation Company Description: West Dominion Tube & Container West Dominion Tube & Container Inc. (NYSE:WDT) is a US-based manufacturer of plastic and glass tubing products and food storage containers. It is headquartered in Louisville, Kentucky, and distributes its products primarily in the southern US through industrial wholesalers. West Dominion operates three divisions: the Tube

Sir John Alexander Macdonald Essay

2210 words - 9 pages about the Confederation were made in London in 1866. One year later, in 1867, the British government passed the British North American Act. The passing of the British North American Act confirmed the creation of the Dominion of Canada. The governor-general, Viscount Monck, asked Macdonald to become the first Prime Minister of the Dominion after the creation of the Dominion. Macdonald accepted the offer! Macdonald would now go down in history