Canada's economy heavily reliant on U.S., experts warn dependence comes with risks [BNN Bloomberg (Canada)]
Bank Nova Scotia Halifax Pfd 3 Ordinary Shares (BNS)
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Source: BNN Bloomberg
Canada has been doing business with the U.S. for over a century, but according to an international policy expert, the relationship between the two countries is changing amid evolving trade policies. “What has changed is the players, the intensity and the leverage between two countries,” Carlo Dade, director of international policy at the University of Calgary told BNN Bloomberg in an interview. Dade says Canada has developed a belief that the U.S. is necessary for Canada to prosper but that's not the case. “Dependency has kept us from seeing the U.S. as it's changed, and it's also prevented us from really taking a cold, hard look at the changes in the U.S. and the relationship,” says Dade. Trade dependence “We're next door to the richest, easiest market in the world. The U.S. market is that attractive and it is that easy,” says Dade. Dade says Canada's overreliance on the U.S. market was always a considerable risk, as U.S. policies become more protectionist and inward-foc
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