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  • Essay / The Global Financial Crisis in Canada - 1104

    The global financial crisis affected many advanced economies, particularly the United States. Unemployment increased dramatically, people were evicted from their homes, and the search for work hit a dead end. However, Canada was not hit with the same force as the United States: "Canada's financial sector was less affected than most advanced economies and had the highest banking strength rating in the World Economic Forum surveys from 2007-2008 to 2012-2013. » Despite the relatively stable state of the Canadian economy, Canada has been very involved in reviewing and improving international financial regulation. Canada was able to make changes to financial regulation because of its perceived experience in the matter, as it emerged relatively unscathed from the crisis. Canadian delegates were tasked with four key areas of financial policy reform and, "in all of these areas, Canada was successful in promoting reforms that matched its experiences and interests in enhanced regulation and supervision." of the financial sector”. This crisis and the successful reforms that resulted made Canada an economic leader, placing it firmly among the world's best bankers. During the First and Second World Wars, Canada had no official army. Canadian soldiers, whether volunteers or enlisted, were trained and led by the British army. Although Canada had its own units, they were treated as an extension of the British army and not as an independent Canadian branch. It was after the end of the Second World War that Canada took steps to truly separate itself from its British roots, including officially creating a Canadian army, navy and air force. The c...... middle of paper ...... community. Although Canada depends on trade with the United States, NAFTA proves that its relationship goes both ways. Canada proved its worth during the global financial crisis, demonstrating that it can implement good policies despite its dependence. Canada has seen many changes over the past fifty years, many of which have transformed the country from loyal soldiers of Britain to prominent global bankers. . Through changes in legislation, economic policy and the actions of the Canadian Forces, Canada's global image has grown since the end of the Second World War. Canada's current global image, an amalgam of actions over the past fifty years, demonstrates that Canada is an independent entity that firmly believes in the well-being and equality of the population, a strong economic policy and broadly considered and a military that is equal parts peacekeeping and peacekeeping. fighting forces.