Canada’s economy is faltering. With the dollar at an all time low and the price of oil, on which we are extremely dependent on, not looking to rebound anytime soon, it is key we begin implementing methods to stabilize the the Canadian Economy and send it off into a bright future. In order to achieve this dream three methods must be put in place to set us on the right path. In order to achieve Economic prosperity Canada must work towards gradual increase of the interest rate, open more foreign currency exchanges, and the continued support of international manufacturing deals within the nation. The first move that must be taken to ensure prosperity within the near future is the halt of seemly unstoppable expansion of the housing bubble. The housing market in Toronto is at a serious risk of a sudden price drop if the supply of houses surpasses the demand (TD Economics report). At the moment the housing and condo construction business is thriving, and the price of houses makes the mass construction of housing developments a lucrative operation, and thus many …show more content…
The hubs would be similar to the one set up between China and Canada. The hub allows Canadians to directly buy Chinese Yuan and bonds without using an intermediary currency, such as the US dollar. Utilization of this system is set to reduce importers’ costs in Canada by 2.75 billion dollars, which will lead to cheaper prices on consumer goods. The hub is also expected to boost exports to China by 32 billion dollars. If the Canadian Government were to encourage the creation of hubs similar to the Chinese deal with other large trading partners, we would be able to further save money on imports and make access cheaper for consumer goods, as well as putting more money into the economy as exports experience a boost as well. Overall these trading hubs are a win-win scenario for Canadian investors, businesses, and