Executive Action: Canada and the New World of Integrative Trade

Of the G7 group of nations, Canada is the most dependent on international trade. Until now, our trade has overwhelmingly been with other developed countries, especially the United States. As emerging markets reshape the global economy and shift trade patterns, the balance of economic weight is tilting away from Western Europe, Japan and the United States and toward the BRIC economies-Brazil, Russia, India and China-along with other developing countries like Mexico. Global products and services are being distributed through global supply chains. This Executive Action, based on Performance and Potential 2005–06, discusses the potential for increased prosperity and the challenges facing Canada in this new world of integrative trade. It also identifies a number of measures to ensure our position within the G7, such as the use imports to create exports, and speeding the transfer of goods across the Canada–U.S. border.