American and Canadian recession in 2008?

Question

If the U.S. is going to go into a difficult recession in 2008, does this mean the Canadian economy will be hit hard too? If so, why?

Answer 1

If American got recession, the whole world would go down. So far, U.S. own more than 25% of Global trading.

If american go recession, the new world will break down into three economic zones: Europe, Asia-pacific and America. Then, American economy will go more recession.

Answer 2

I believe the Canadian economy is more commodities based than the US economy. Those emerging market countries need to get there oil, wood, gold, iron ore, etc. from somewhere and that somewhere is Canada (along with Australia, Russia, and Others). But those emerging market countries need some of those raw materials for products sold to America. And if the American economy slows, then it won't buy as much goods from those emerging market countries and so those emerging market countries won't need as many raw materials from Canada.

The recession (if there is one and there seems to be a lot of "wishful thinking" for a recession) probably won't affect you too much, unless you lose your job. So far, the majority of job losses appear to be only affecting construction, mortgage lenders, wall street.

Answer 3

I do not agree with the premise of this question. As a recession is consecutive quarters, (3 months), of negative growth, and the US economy has yet to have one quarter of negative growth it is speculative that there will be a recession.

However, as the US economy goes, so goes the world economy.

Answer 4

caffin jag is wrong.

it is now 'However, as the chinese economy goes, so goes the world economy.'

we owe china $1.6 trillion in debt
$900 billion in trade defecit
plus we depend on them for our food.

what could be better than that. we need a REAL conservative in office.

Answer 5

If the Libs get their way