I live in Canada here, and I've travelled in the US. I can say that the US is a far superior country, Canada here is SO backward for business, it's like a third world country. Is this just a temporary thing?
2007-10-06 06:50:11 · 8 answers · asked by Margaret S 1 in Business & Finance ➔ Investing
I have a different opinion. I live in the U.S. I have traveled in Canada a few times. I was impressed by the clean environment and road condition (better than where I live). I guess part of the reason is you guys pay higher taxes. Back to your question, one reason I believe the Canadian dollar is higher these years is due to the rise in prices of natural resources. Canada is very rich in that. If the global economy continues to grow, particularly those populated countries like China and India, this trend may continue. It's supply and demand, very simple. Similar situation happens in Australia. The U.S. has too much imports, and is still lowering interest rate to stablize its economy. Who wants the U.S. dollars?
2007-10-06 07:20:49 · answer #1 · answered by P.L. 1 · 1⤊ 0⤋
I agree that the US is better than Canada, although I don't believe Canada is like a third world country. Unfortunately, currency valuation is not based solely on national pride. The U.S. dollar will rise again, but it may not happen anytime soon.
The short answer to your question is Canadian exports are valued higher than U.S. exports, but I have no idea why.
2007-10-06 14:05:01 · answer #2 · answered by ? 6 · 0⤊ 0⤋
It has to do with the fact that Canada sells many products that are in great demand today -- oil, wood, nickel, uranium ore -- and the Canadian government's balanced budgets.
Those things can all change again, so you never know. You are right that Canada is not business-friendly and that will hurt its competitiveness (and the Loonie) eventually.
2007-10-06 13:58:46 · answer #3 · answered by BAL 5 · 0⤊ 1⤋
If you live in a traditional house ($200,000.00 USD) and everything inside your house is already paid in full becaue you are a hard worker and your house is also paid in full and your car is paid in full and you have enough cash in your bank account to send your children to Harvard and your neighbour has a Ferrari Enzo AND a Lamborghini Diablo, and he lives in a Castle and his furniture is far more expensive than yours and his clothes is imported from Italy and he is also sending their children to Harvard but HE USED HIS CREDIT CARDS to pay for everything.
Would you say he is far superior to you?
What is the point of building the one of the tallest buildings in the World like the Chicago Spire or the Freedom Tower in New York or the Trump International Hotel and Tower also in New York if you have to borrow all the money to build them from Japan, Germany, China, United Kingdom, France, Italy and Canada?
Here is the National Debt of the United States of America:
2007-10-06 17:34:54 · answer #4 · answered by Anonymous · 0⤊ 2⤋
Maybe RIMM ( Research In Motion ) sucked all those US$s north of the border so them Canadians have all of both ?
Up another 12% on friday
http://finance.yahoo.com/q/bc?t=1y&l=on&z=m&q=l&p=&a=&c=&s=rimm
>
2007-10-06 13:57:11 · answer #5 · answered by kate 7 · 0⤊ 0⤋
The US is up to its neck in debt. Bush is throwing his weight around, interfering in every country, while his own country is sinking.
2007-10-06 17:33:11 · answer #6 · answered by Anonymous · 0⤊ 1⤋
The U.S. government prints money. Shhh! You didn't hear it from me!
2007-10-06 19:17:33 · answer #7 · answered by Anonymous · 0⤊ 0⤋
It's the economy, stupid, and that may just give you a glimpse and a hint!!
2007-10-06 14:00:14 · answer #8 · answered by TT01 3 · 1⤊ 0⤋