The Remarkable Economy of Canada
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This is Canada, a highly advanced first world country blessed with an abundance of natural resources and polite people. This nation is often a side though when compared to its far more influential and much louder brother to the south, but Canada is an extremely important economy in its own rights with a few key contributors that make it truly unique in the western hemisphere. For starters, it is a commonwealth country meaning that while it is a free and independent state, it still takes a lot of its lessons from its mother back across the Atlantic ocean.
The nation is also blessed and cursed by its own geography and anther issue worth exploring is the love/hate relationship that Canada has had with skilled immigration in the past decades.
In this video, we'll explore the issues facing Canada and look respectively at how they are the perfect case study for the world as a whole.
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📚 Want to learn more about the economy of Canada? We recommend reading "Canada, The Greatest Economy In The World?: The Facts You Are Not Being Told About Your Money. And How To Protect Yourself From The Coming Crises (Economic World Overview Book 1)", by John Sneisen 👉 amzn.to/2XHZo7l (as an Amazon Associate, we earn from qualifying purchases)
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Sources & Citations -
Hiebert, D., 2006. Winning, losing, and still playing the game: The political economy of immigration in Canada
Head, K. and Ries, J., 1998. Immigration and trade creation: econometric evidence from Canada. Canadian journal of economics
Haley, S., Klick, M., Szymoniak, N. and Crow, A., 2011. Observing trends and assessing data for Arctic mining. Polar Geography
Russell, P.L., 1990. Oil Shales of the World: Their Origin, Occurrence, and Exploitation
Trefler, D., 2004. The long and short of the Canada-US free trade agreement. American Economic Review
Granatstein, J.L., 2004. Who killed the Canadian military?. Toronto
Faini, R., 2005. Migration, remittances and growth. In Poverty, International Migration and Asylum
Docquier, F. and Lodigiani, E., 2010. Skilled migration and business networks. Open Economies Review
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Economics Explained i just want to point out to you that alaska isnt canada on that map you showed
Economics Explained a lot of these facts may or may not be accurate but that’s only because of political issues. Without getting too political imma just say the prime minister has a hate on for oil industries and a lot of them are going out of business because the government can’t secure their job or is unwilling to do so.
Canada doesn't own Alaska USA owns Alaska. I noticed this in the map of Canada and America. Probably just a mistake. Just letting you know
Hey you should do a video about the economy of Israel, fascinating topic
Do a video of universal basic income, because I would recommend a world vote.
A non-Canadian makes content about Canada and calls us remarkable
Canadians: *Is this attention?*
69th like
This is exactly how I feel rn lol
Its an incredible feeling whenever we're mentioned by a non-Canadian
Absolutely true. Comedian makes a joke about Canada? Instantly my favourite
People from South America and Africa:
Apparently, we've also annexed Alaska.
A great day for Canada, and therefore the world.
South park reference?
@@charlescallens9987 Follow the only road!
Oi, lets met honest canucks dont have the balls to attempt any the US.
@@berniekatzroy I don't think testicular fortitude has much to do with not wanting to invade a country that literally has 10 times the military.
@@papanurgle8393 *10 times the gun violence
When he said “harsh environments” and the picture came up, as a Canadian I said “that’s not harsh”
Maxime Verrrstappenn same😭😭
"artic tundra" shows southern (for canada) rocky mountains
*See it's -5 Celcius outside* It's a bit chilly. Might bring my coat just in case.
@@TheMajorStranger I grew up in Thompson, Manitoba. It isn't cold until it's -40c. I live in Toronto now and the -20c we get on a few days a year is a total joke. I mean it's cold, I need to wear a jacket but that's it. I don't have to worry about my ears getting frozen off if I don't wear a hat.
Actually I’m glad when they talk about a harsh environment to non-Canadians. It will keep the idiots out.
“This has made home ownership unattainable.”
*sweats in young Canadian looking for house*
Search for homes in any city with less than 3 million humans. You'll find affordable housing.
@@abdallababikir4473 Your criteria includes Vancouver (severely unaffordable).
@@pr0wnageify I keep forgetting Vancouver is so small
@@abdallababikir4473 and Dublin
@@abdallababikir4473 Look for a townhouse in Alberta.
...you included Alaska in the map of Canada. Uncle Sam would like to speak with you
Didn't you know? Alaska is our 14th province
Do ya mind if we take that from ya eh?
U can’t take Alaska out
The Yanks did steal the panhandle so we'll just call it even. We will accept Alaska as payment.
@@dg-hughes I hope you like a spicey nuke and military and then Alaskan nation guard and militias.
0:01 “this is Canada”
Canadians: “no that’s toronto.”
Literally the words that came out of my mouth. Followed 2 seconds later with "that's still Toronto"
not like1/6th of all Canadians live there...
Alexei Kuznetsov like a typical Torontonian would say lmaooo
I heard, "This, is Cana."
*Torono
2020: the great American-Canadian war where Canada conquered Alaska 7:57
@@BeyondBeast no actually many Americans like myself disappeared into our last frounteer. The safest place I could probably be on work dispatch. I am considering returning for 2021. Happy combined holiday week. Wishing happy Cannada Day and Happy 4th all week long on the radio. We'll celebrate together ( why not) but we're keeping Alaska.
@@BeyondBeast 2021 is not a leap year.
@@BeyondBeast currently I'm back home in Florida. I went to Alaska primarily because of covid. I was thinking about it beforehand. Well with covid and no job man's gott to make a living somehow. So I did in Alaska all summer 2020. Like I said I thinking of heading back 2021
@@ms.gregoria2249 Bruh, a link with "china daily" in it is probably the least reliable source in the world.
@@ms.gregoria2249 get out of here Chinese propaganda agent
I'm just happy to be born in a stable and fully industrialized nation. It's like winning the lottery.
Taxes hits hard, but you can live a little
@@TheNewAgeCreater
Just a little?
As a Canadian I appreciate you giving us Alaska
We promise to take good care of Oil Yukon.
Don't worry with only 30 million + ppl America could play monopoly and just push you off the board. California has the same population as Canada. We are more than happy to take the unused resources of your hands.
@@Theckonestroh I don't think you have to take them by force, we sell almost all of our oil to you guys anyways, usually below market value lol
@@YourCanadianGuide I think your right! Not sure I would want to live up there with all the heat changes. Forest fires would be out of control. Get around 150 million of use to move up there. We might be able to help stop forest fires. Can't imagine how bad or good climate change might get?
@@Theckonestroh I haven't the faintest idea how bad climate change will get but I'm not sure Canada will welcome 150 million US settlers lol
20 years ago i was refugee
Today, im Canadian nurse making 6 figure income
Im living thr Canadian dream
Good for you!
Did you steal Alaska? We need it back
She stole Alaska
Did you have a legit case or faked it
That figure seems too high for nursing.
This was a great video, learned a few things about my country :)
Something I think is interesting to add; on the note about shale oil in Canada, another reason we haven't really seen it gain any traction is because the current conventional oil industry is facing HUGE headwinds, the biggest of which is lack of pipeline capacity. In Canada there have been a lot of protests against building pipelines from environmental and First Nations groups, and this has effectively left us with a system where we can only really export oil to the U.S. (our East coast imports oil from Saudi Arabia because we don't even have capacity to supply all our own provinces). Having (effectively) one customer for the vast majority of our oil has put us at a huge pricing disadvantage; our oil (Western Canadian Select) has been going for large discounts to WTI. In fact, with the current pricing war when WTI fell to roughly $20 a barrel , WCS fell to under $5, meaning it was cheaper to buy a barrel of oil from Canada than a pint of beer! Needless to say very few companies are looking to explore shale deposits when we already have these obstacles in the energy sector.
This is all a hot topic for Canadians, so whether it's "right" or "wrong" is not something I'd be jumping into, but certainly something worth adding!
Anyway, love to content you're putting out, just subscribed!
Are you really taking this seriously. This is full or errors.
@@ELee-zv5ud Yes there are some mistakes (Alaska was shown as part of Canada) but I still enjoyed the piece
Hey Richard, any videos in the pipeline about the Canadian energy sector? Always enjoying the stuff you put out, I've been using them a lot to demystify finance for some of my friends!
Its only because the media doesn't pay attention to First Nations that WANT pipelines and support the oil and gas industries.
@@olefella7561 "a mere 26 million population, " Uhm, the population of Canada is 38 million. You're obviously an idiot that knows nothing about what you type (i.e. copied and pasted). China Daily is the China Communist Party associated paper. Get a clue you foolish commie.
Canada ain't perfect but I can say that I am so happy that I was born here.
better than south africa anyways...
Couldn’t agree more. I’ve never felt luckier to be a Canadian than I do right now during this crazy era of antimaskers, unemployment and political war zones happening in the USA.
very poor I bet you have never been to Canada. Canada has the most arable land per capita in the world. Canada has the second biggest oil supply in the world. Canada had a large manufacturing economy per capita. Canada has some of the best banks in the world and a stable banking system. Immigration levels in Canada are the highest per capita in the western world. Canada has a large supply of fresh water, Canada is not just tundra but a vast forest east to west,.and think of that as a cash crop on a 30 year growth cycle.
economics explained you did a very poor job.
@@grantboucher9342 Dude, I wasn't referring to our natural resources or civic systems which I am well aware are some of the best, I wrote this more in reference to the racism that I, as a native person stilll face, and the corrupt governments us citizens have to deal with. I assure you I am very much Canadian.
@@laika6661 as a Canadian, I just wish we had a better vaccine rollout like the US. We’ll see tho, too early to tell
"nobody in their right mind would invade America"
shows map of canucks taking alaska
Canada brunt down the white house 3 time's.
@@trentdabs5245 3 wasn't it 1? Also I'm pretty sure it was the British. And also this feat is completely irrelevant since USA is now much stronger...
@@maxstone2380CANADA is a British colony so I guess you can say (it was the British) and We did burn down the white house 3 different time's
For some reason we don't realy learn about the war of 1812 and other Historical data's in Canada and America.
@Trent Dabs A. The full quote is "nobody in their right mind is going to invade North America _in the 21st century."_ B. If you view it as Canada's doing and not the British, then it's not even an invasion of North America as Canada is already in North America.
@@maxstone2380
Ah, classic Yankee tactics to deflect the shame of the truth :) Canada was a series of British colonies at the time, yes, but the War of 1812 didn't factor into Britain's concerns because they were busy fighting Napoleon friggin' Bonaparte, so the actual nation of Britain barely participated in the war. The majority the soldiers (including the redcoats), weapons, money, and other resources that went into the war on the British side came from the Canadian colonies.
As a Canadian I'm always happy when someone pays attention to Canada.
@marios gianopoulos ok boomer
@marios gianopoulos It's always funny when someone from shthole countries tries to teach other countries how to run their social politics
Focus on your shtty economy first ffs
@marios gianopoulos Who cares what's the skin color of the citizens as long as they are decent, hardworking human beings that contribute to the community and economy?
marios gianopoulos wakes up? There is nothing specifically important about a majority white population
As a Canadian, I would say the greatest weakness of this country's economy is its division among provinces and poor federal power.
Instead of consuming oil produced within the country, the provinces decided to fight one another and import oil from Saudi Arabia.
Instead of working together to promote resource export, the coastal provinces decided to bar the in-land provinces from reaching the world.
Canadians are not as polite as we appear to be among ourselves.
Canada has no refineries, so we have to import oil. And it's not cost effective to build refineries due to how expensive they are to construct and upkeep, versus how cheap the finished product sells for.
@@magical11 Umm...we do have refineries: Petro Suncor, Imperial Oil, Shell/CNRL, NWR Partnership in the Edmonton area. There's two that I can think of out east. However due to the folks in central Canada who refuse to build pipelines, those area's are forced to import oil products.
@@magical11 regina has a disgustingly huge refinery, CO-OP
It’s like a disconnected family.
When someone asks we all act like we’re best buds but as soon as their gone the chairs and smirk insults are coming out.
yeah but I think that unite canada is just impossible. This country is too big to be totally united.
A lot of foreign students in Canada don't just leave after they get their degree. Now that they have a great degree that Canada recognizes, they can now immigrate to Canada to become a permanent resident. So not only are foreign students paying 4x the price of tuition fees that Canadian students do, but they also come back and have a degree to get a job here in Canada. Then they have a family and spend all their money in Canada. Oh and now that they're established here, they can help their other family members to immigrate here too. So I think its more of an investment by Canada than a sort of win-win situation like this video makes it out to be
I don't think this is a issue as most of the international students have extremely wealthy parents who will not really cost Canadian government much and bring in a lot of money.
What needed attentions though is the portion of immigration from skill workers and refugees as the cost their family reuinion might overweight the benefits.
It's closer to 3x, least in Ontario. International students in my program are paying about eleven thousand dollars per semester. I mean, their parents are.
A wealthy Asian family that sends their kid to another country to get educated isn't looking to move their family there as well. They already have businesses, assets and family tied up in their home country.
@@brandonfrancey5592 Don't forget a lot of asian countries are not great place to live(pollutions). Let along the legal protection of their wealth there is far worse than Canada.
@J OneLife That's simply just not true. International students face much more difficult situation in terms of employment and so many of them go back to their homeland after graduation due to unemployment. Local graduate have much more advantages over them.
Also, international students are not eligible for CERB. Only local students do. Lol, after all, I guess Trudeau is not that stupid.
“This is Canada...”
*immediately shows footage of Toronto*
Hey! Canada includes like, at least three other things outside Toronto, too!
It's a CZcams video using stock footage of Canada. It's going to be all CN Tower scenes of Toronto, pretty bits of the Rockies and arctic tundra. Those are the tropes (seriously, have more than 1% of us Canadians ever even seen tundra in person?). Never mind the absurd diversity of landscapes and cityscapes across the country. The cobblestones and fortified walls of Old Quebec, the seas of wheat out in the Prairies, the fishing ports out east, the vineyards of the Niagara and Okanagan all make people think of other countries' stereotypes.
Of course it does - he talked about Vancouver, northern mines, and ... Alaska
@@Septimus_ii Alaska is basically Canadan't if you think about it
submalevolent grace Toronto is not the capital.
@submalevolent grace Toronto isn't the capital of Canada. It's Canada's largest city and the capital of Ontario. Ottawa is our national capital and fourth to largest city.
just a sidenote: Houses in and near toronto cost millions, mediocre houses.
dude you can get a pretty nice shack for a mil
And Toronto voted against the candidate who wanted to push housing reform into a "Singaporean model".
No it doesn’t. We bought a house for much less.
FerdDoesWeirdThingsInLife in what town tho, definitely not inside the city of Toronto
Maxi ?!? Our’s was in North York
Blessed and Cursed by it's geography, that's literally Canada summed up
usa is worse when it comes to that
Tip: when you are talking about tundra - don't show mountains.
Art TV Tundra is a type of biome without vegetation. Could happen in flat spots on in mountains.
Not sure what the canadian tundra looks like but just pointing out that his image was not necessarily wrong
@@RuthCuadrado Canadian tundra is forests and then an ice sheet mostly. the mountains grow rather warm compared to them.
Ruth Cuadrado Canadian tundra is ice
Having worked in both terrains, Arctic Tundra and Mountain tops above the treeline are for all practical purposes the same. same plants, same critters, same chance of freezing overnight.
Tundra ecosystems are treeless regions found in the Arctic and on the tops of mountains, where the climate is cold and windy, and rainfall is scant. Tundra lands are covered with snow for much of the year, but summer brings bursts of wildflowers
7:58 You've forgotten that Alaska belongs to the USA
Nothing wrong there
😂
No, it belongs to Россия!!!
No it doesn't what are you talking about?
well not for long
ok, basically, canada's economy is based on three things, natural resources, foreign students and their neighbor the us
Not to forget, hockey, maple syrup (85% of the world market), mustard seed (90% of the world market), beaver tails, poutine and the word "Sorry" (great royalties)
Largest producer of potash, uranium, plenty gold and diamonds. What about grain ! Unbelievable resources
@@lou-annbest1318 forgive me but arent those natural resources?
High taxes
and housing
8:26 I'm reminded of what happened in the 90s when Portugal got into a territorial dispute with Canada over fishing.
Portugal declared that they were sending their warships into the Canadian waters, but before they got there they were informed that the US Atlantic Fleet would be waiting for them if they attempted to enter Canadian waters. The Portuguese turned around.
First of all, Spain, not Portugal.
Secondly, no, that isn't what happened. The Canadian Coast Guard seized a Spanish fishing ship, bringing the dispute to a head. The Spanish sent a patrol vessel out, and contemplated sending a larger task Force, but the situation was resolved through negotiation.
The US Navy neither became nor threatened to become involved.
"The Remarkable Economy of Canada"
***Alberta has joined the channel***
What economy?
@@randybell5461 OOF
No such thing as in economy here
TBF to my province, we do keep the western provinces from falling to the wayside by holding a lot of th cards when it comes to natural gas, oil, and mining. I’m not gonna say we do all the heavy lifting, but we are critical in keeping Manitoba, Saskatchewan, and Alberta from being pushed out of federal politics. It’s not an altruistic effort (alberta has the second highest corruption rate in the nation after Quebec) but it is a needed one.
*Chat
Guys I think he has seen it now you can stop reminding him that Alaska isn’t Canadian
Yeah, we annexed it just last week.
Yeah, noticed that, but I decided to to let it go.
What are you talking about? That's the 14th province of Alaska...
11th province... the Northwest Territories, Yukon and Nunavut aren't provinces yet.
@@mosquitobight Fair point, looking back on this it wasn't my brightest moment.
As a low income citizen of the oil-boom capital of Canada [Alberta], I approve this message. I can attest to home ownership being quite out of reach for probably 50% of the population. If you're not college-educated or working in a high-paying trade, it's essentially impossible. I made 25k last year and I pay 30% of my after tax income to rent the bottom of the barrel.
I'm planning on upgrading my career now that my health is improving, but I am fascinated by the struggle of people everywhere to put a roof over their heads without sending their paychecks to fund the lifestyles of the elite of society [the Lords of the Land, as it were].
but Alberta is one of the most affordable housing markets in Canada and Calgary is the most affordable big city in North America when it comes to housing. 30%? I thought Alberta had low taxes?
canopée 30% of his income is how much he spends on rent, not taxes.
same boat here in ontario, were all suffering from extreme housing prices.
Meanwhile in "poor" Bulgaria 90% of the population owns a home. Actually most people own multiple homes.
Same basic situation in the US. I'm only a homeowner because I am unusually privileged (I only had to borrow about 1/3rd my college funds, both me and my wife have college degrees, combined 6 figure income, and my mother literally GAVE us our 20% downpayment). I'm also only a homeowner because I was willing to supercommute (1+hr driving each way, >70mi round trip) to buy a 700sqft house in the boonies for
11:22 Hey that's Mont Royal in Montreal! I recognize that place because I live there! Yyaayyaya, finally a photo that isn't just Toronto.
Also, this is probably the only recognition Montreal gets other than being a city of sin or gaming :)
3:40 Sherbrook street and Place des Beaux Arts
The unemployment rate in the province of Québec was at 4.6% before the corona crisis started . You could see and still see lots of cranes in the skyline of Montréal.
@@vincentlefebvre9255 I fail to see the link between unemployment rates + cranes in the sky, and how those relate to her comment. Mind elaborating?
am from Toronto area and I think Montreal & Quebec City are beautiful. I loved the historic fortified walls in QC.
@@curiousoddity Construction cranes (AKA Tower cranes) have long been regarded as a barometer of economic prosperity, because the more of them people can see on their skyline, the more construction and therefore optimism there is for the future, based on the huge economic investment in a community that large construction projects represent. This roughly correlates to low unemployment in the present and presumably into the future.
During one of Calgary's famous economic boom periods, there were so many tower cranes crowding the downtown skyline, that it became a running joke that Calgary's unofficial civic bird had to be the "crane"! 😎
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You forgot alaska isnt part of canada 8:01
Please make a video on venuzvela
my cat just stood on my keyboared sorry i was trying to say have u ever thought of doing russia?
Go deeper into topics please, you're not saying anything new. The least you can do is go deep.
One question, are economists skilled workers? Are economists considered equal to doctors or engineers?
7:56
America would like a word with you.
lol Alaska
Alaska looks better with us, you have to admit it.
@Einar Figueras it makes Canada look incomplete though. Just give it to us. 😀
TKinfinity fight us for it or make a breakable treaty with us.
Lee Brro
How about just give it to us since we’re so dam nice! If we help Trump buy Greenland (lol), then you’ll have all the oil and gold you’ll ever need.
Its always funny hearing peoples views on immigration in Canada when they arent from here. They always boil it down to basically they dont want it because racism. Also its good because money. Such a deep contentious issue cant reduced to such a simple argument. Neither of those is remotely correct and completely misses the concerns of both Canadians and Immigrants.
This video argued neither of those things tho
They actually didn't argue anything at all, they specifically stated that they'd avoid getting into politics as much as possible.
I think in Canada the issue is not immigration it's rich people buying property who don't even live in the country half the time. Rich Canadians also do this. Our cities are growing unlike a lot of other places. People view us as a safer USA. So the issue is we need to prioritize housing for residents (Citizens and immigrants). I'm a study and I see a lot of really poor immigrant study and most are not rich. But the rich ones are really rich.
@@evandugas7888 So the problem isnt immigration, its rich immigrants! So thats the same thing, and generally all immigrants are well off when coming to Canada because its rather expensive to do so. Refugees though dont generally have money. One thing that these new people will do though is pool money and increase their buying power. Driving out locals from being able to buy. Wealthy Canadians buy property because for decades its been seen as an "investment". So many wealthy Canadians who already own their home as they tend to be older Canadians who were able to buy houses when things were cheaper and easier. Start loading up on places and many have turned into slum lords.
After living in Toronto for 4 years I always love seeing it on CZcams!
@@xjohnny1000 If you think Toronto has extreme weather, then you should try living in a Prairie city
Geography Explained: Alaska is a part of Canada.
The Province of Alaskanada
It used to be 🤷♀️ lol guess his map it really old
@@crystalfisher4467 actually it was part of Russia
@@crystalfisher4467 dumb
Now we have Alaska and let the Americans pay for it
Would you mind doing a video about Singapore next
As someone from Singapore, over 50% of our work force is foreigners. We do not have any natural resources. Help me and other Singaporean understand why do our government continues to invest in to foreigners
Cause your birth rate is so low (1.2). On par with HK and lower than Japan (1.44). Have more kids and your gov't will stop importing foreigners
@@Pumpamentals foreigners also brings in money, since singapore doesn't have ressources, there you get why
@@Pumpamentals yes I do understand that. But the economy factors does not allow Singaporean to have more kids. You would not be thinking about having children if your company may replace you at any time for a cheaper foreign worker. ( I do not blame the company as I also understand we live in a capitalist economy) and if that is your reason I would like to understand how does the economics of foreign workers sending money back to their home land help Singapore as a country
@@Sinaeb for Singapore most foreigners does not bring in money like Canada. Most foreigners that works in Singapore comes from developing countries and do sent money back to their home country regularly
Because foreign worker can do the same job at a cheaper price
It's been almost two years since you put this video out, but I'm curious about your take on how Canada's resource economy is highly focused on extracting and exporting raw resources rather than refining them in Canada proper. Even the wood we cut down up here in BC is being shipped to the US more often than it is being sent to local saw and paper mills, and our oil is being exported to foreign refineries rather than being refined at home. While definitely lucrative in the long term, would you think that this system could last and not bring negative effects to the Canadian economy, or that the extraction sector being export-based is a better choice than producing stuff locally?
The end-user markets for lumber and gasoline are much larger in the US than Canada, so from a purely economic point of view it's more efficient to have sawmills and refineries in the US than in Canada.
I can say with certainty as a Canadian you've hit the nail on the head with many of those points from the average bungalow style house in Vancouver going for upwards of 3 million dollars Canadian to the difficulty of resource extraction. My father works as a gold miner in the Yukon and their mining operation is only able to function for 3-4 months in the summer because the rest of the year the permafrost underground is so intense that no mining equipment can actually dig for minerals.
We all know Canada’s number one export is Terrance and Philip
I dont have a clue what that is
It’s a South Park reference :)
@@bigmack8307 so Canada's greatest export is our Comedy ?
@@Gayd1 dont worry buddy
Great comment
You talk a lot about “shale oil”.... while it’s true that Canada has that, the big resource is in the “oil sands”... check that out.
Dennis S we have contained shale oil and thats our Canadian reserve the oil sands we process and sell, we keep the other oil for a rainy day
Same Same, but different. Yes it's a different form/extraction type, but a lot of the negative points he brought up about Shale, also apply to Bitumen.
For the quick glazing over that this video was concerned with, I'd say the differentiation isn't required.
Shale oil requires fracking and can disturb the aquifer, Tar sands can be excavated or extracted by steam injection. The recovery from Tar sands mining is obvious and requires much work. Recovery from Fracking could never be seen and is not considered possible and so isn't even investigated.
We made bad bets in oil sands. Shale exploded in the us, not canada. Its a whole different business Within the energy industry.
Again you are demonstrating that you know nothing about Canada, and fools are watching you because they think you'll help them cash in.
Hey man, I really enjoy your videos. I think you provide a standpoint that's rare, and the quality is palpable. Thank you for the interesting educational content.
Your channel is amazing! So much useful and worthy information
Alaska: Exists
Canada: Allow us to introduce ourselves
@OceanBlue I see your comments everywhere you are cringe AF and a fake american. get real
Alaska used to be part of Canada and then Britain screwed us over and gave it to America
Ingénue Visaree there is a long weird history with Alaska, i think back then Russia took it then gave it to America because it was just a peace of land but it turned out there was oil there soooo
It's free real estate
Anyone up to retake Alaska? The Americans are too busy with politics that they’ll never even notice
you've missed the whole finance and tech industry that are growing much faster than the mining and oil industry.
It looks like a communist country from the video
As a Canadian in the tech industry, I had to leave because of lack of jobs in 2017. When you compare how many tech job openings (data scientist, software engineer, machine learning engineer) there are in Canada vs. US, it's very disheartening.
I speculate that most of these roles, at least in the case of multinational corps, are filled by transfered employees from USA or overseas. The idea that Toronto is the next "silicon valley" is a blatant farce as far as local job opportunities go.
@@mikeg6988 i heard Microsoft's setting up offices in Vancouver?
@@mikeg6988 I live in Montreal, all my friends who works in tech or software compagnies found jobs in like a minute after school. Job openings for graphic designers or software engineers seems to be overflowing here
@@Darklife66 I wouldn't really count graphic design as tech. I must admit I did spend most focus on Toronto given the hype surrounding the supposed tech industry flourishing there.
We had a clay mine on PEI. It was a big hole, like 50ft
I love P. E. I., but it's Dangerous putting an open pit mine there. If it's too close to the shore the red mud and the sand collapse and you have a harbor instead of a mine. If it's inland, the red mud keeps getting washed into it and it has to be re-excavated. If it gets too large it will swallow the entire province. Better to keep on farming there on the Island and tell "Bud" to keep on trucking those spuds to us.
By the way, are the Woodley Replicas still there? Those are fantastic.
@@sandyjohnson4182 I never heard of the place, but sounds like they closed the site in 2008 due to the failing health of the owner.
Vancouver, Toronto, Montreal. Some of the best cities to visit. Absolutely beautiful. World class cuisine.
No. Those 3 places are heavily overpriced and covered in tourists and immigrants
Bandit Leader exactly why the food in those cities are amazing!
JAY LENO SAID THAT MONTRÉAL IS THE BEST CITY IN THE WORLD
Wow everyone. Where is the love? Maybe some people prefer different places than others? Let people enjoy things, please.
Homelessness has been getting much worse in those cities since Trudeau
I amazed you talked about the Canadian economy without mentioning our banks. Out of curiosity, why did you avoid talking about them in this video?
Very good point, seems like a massive oversight
What's going on with our banks?
Canadian banks are very large in proportion to our economy and have major international influence - mostly in US and South America
Canadian banks are so successful because they are heavily regulated and generally not allowed to take on much risk. This has lead to an extremely stable industry, marked by almost no bank failures. It's all a rather boring story, which I think is why it doesn't get told much.
@@yuweizhang209 As others have mentioned, our banking sector is extremely stable and prone to avoid the sort of risk taking that hurt so many international banks during the 2008 recession. They are deeply boring and reliable, which is actually a good thing in a bank. We're pretty zealous about regulating them because the Bank Act also gives them a near oligopoly.
"Education is a major export." 4:00 Huh! I never thought of it that way. Thanks EE
Just like anything else that can be loaded into shipping containers.
@@garret1930 yikes
What, you mean unemployed Canadian teachers going to teach ESL in foreign countries as there are no jobs here?
I'm from Indonesia. When i was a teenager, i did a student exchange to Canada and lived there for 3 weeks. Mostly i lived in Kamloops and for several days strolling around Vancouver, and it's still a memorable experiences to remember. Such a great country
I really love this content. Please keep it up!
Hey EE! I would love it if you made one of these on Mexico. Its position in the world is quite unique and I would like to see your take on it. Thanks!
South Korea next please! I’d be really interested in knowing the details of how they went from being poor to rich in such fast pace
War
Look up "The Economics of Kpop" and you'll find out
Read a book called "The Bad Samaritans", parts of it are about Asian economic miracles
Stable government, government funding local companies, especially the ones that exported the most and were the most competitive, and investing highly in education
US investment after the Korean war played a big part, they needed a stable ally in the region.
I am from Canada. I can confirm that it is totally awesome.
as a Canadian Canada is indeed awesome except the government the government sucks
Got to know many things for the first time. Thanks dear.
As an economics student, it is amazing seeing the principles I learnt in class being seen in the real world! Thanks for the quality videos guys!
7:43 You missed a golden opportunity to say 'It's time to learn Ge-o-graphy NOW!'.
He did yep
OH SHIT YOU WATCH PAUL TOO
@@DominicBlair :P
As a 65 year old 5th generation Canadian I grew up in a Toronto where pretty much everyone seemed to come from Scotland. I can't tell you how much this city and this country has been made richer and more interesting by immigration. Bring it on! It makes us stronger, smarter and more hard working. Trump's America is his loss and our gain.
Most of the real bigots and racists are 2nd or at most 3rd generation Canadians - their forebears were Nazis or other right-wing fanatics who came in after WWII, and kept the hate going.
@@quasimododisney8765 Nah. Its those 4th 5th and 6th gen Canadians. You know. Those people who wiped out culture after cultures of natives like the Nazi's.
I thought your mining segment would bring up the significant secondary services developed to support Canadian mining, but now serving international mines. The Toronto Venture exchange is the main finance centre for global mining exploration, even Australian and US companies list on the TSX Venture. I am a consulting engineer working in rural Canada on Mongolian, Mexican, and Peruvian projects. The labs down the road from me are similarly bursting at the seams with rock samples from all over the world. Services to global mining generates a lot of wealth for Canadians.
The Canadian Dream:
Working and paying taxes.
Actually it's a carbon levy not a tax. lol cause legally they couldn't add a 2nd tax on fuel tax so it legally became a levy. Atleast J kenney removed it in Alberta though. But yes you pretty much work till july every year before the money you earn actually become yours. Because with a 35% tax plus being taxed on everything else it's around 50% of all your labour. sigh.
@@sirshortsalot117 We can add to the trials of Canadians just by remembering where the majority of business has corporate head offices. Toronto. Over paid employees there, underpaid everywhere else in Canada.
We have dreams?
And now relations with east and west are deteriorating. Also yeah we should stop paying equalization tax.
2 sure things in Canada. Death and Taxes. Now our government is working on a cure for Death so that we can pay more taxes.
You didn’t mention how Canada fared the best of all G20 countries through the Great Recession. Lots of reasons for that.
Gerald Ford Harper and the finance minister.
@@mjcard That made absolutely no sense
Because of Harper.
He can't mention the entire history of the Canadian economy in one video
I can give you the only reason with one word. Oil! Remember oil bounced back to 140 just after the Great Recession crush?
Important to understand that Canada was founded upon outside interests to this land wanting to exploit the resources of said land and build their fortunes, at the expense of the local population. That still rings true today. Canada has been gradually taken over by outside interests pushing local owned Canadian businesses out of business all while being supported considerably by the government to come on in and take over. We have a severe housing crisis. More and more of our housing has been taken out of reach of the majority of Canadians. A lot of foreign investors using our real estate as mere investment holdings, many rental accommodations have turned into AirBnBs to house foreign visitors. Increased immigration has only added to the problem, there is not just a lack of affordable housing of any kind but a lack of housing period in Canada. Wages have remained stagnant in comparison to the rising cost of living. Labour remains cheap and not enough money remains in Canada to either maintain or raise the quality of life in Canada. To top it off we have a government that maintains this status quo by way of "woke" politics (polytricks). Be sure the polite and passive Canadian is becoming a thing of the past as we all fight to survive in increasingly dire times.
As an Economics student, I really, really love this content. Please keep it up!
I moved to Vancouver 3 years ago from Ontario. I have to say there is alot of under treehe surface and sometimes in your face racism especially towards chinese immigrants. That being said there are reasons that people have hostile feeling towards immigration, not the least of which is the property price and cost of living. Many people who grew up here now have been pushed out of the major cities and have trouble finding work. No excuse for hate but theres always reasons for friction.
Why, because the immigrants are arrogant. Refuse to integrate.
Nothing like growing up in Vancouver, and being refused service in the same Cafes and Bars my parents frequented at my age, because new owners came in and effectively outlawed English or French being used in their establishments. I should not need to learn a new language to live in the country that I was born in.
The racism towards Chinese Canadians is well earned, as Mainlander Chinese continue to move to Canada, and hold arrogant attitudes that predecessors from Hong Kong or Taiwan simply did not hold.
theres racism everywhere in the world. the country isn't gonna change for you
well sure not only are they responsible for the gangs the crime the human trafficking, drugs, money laundering i could go on for some time! that being said they don't call it HONGcouver for nothing! you think im a racists? but i say this sir go for a walk in those parts of JAPANcouver and see how long you live. And if you survive tell me im wrong :D i grew up there!
you belong in the us, with your racist attitude
Jesus how much did you pay for this many stock photographs
Maybe 100-200€
he's like wendover but not as bad
@@asneecrabbier3900 wym Bad?
Wandover is bad?
@@notsaeed Wendover is.... OKAY. They're just alright. This channel's actually good.
This makes me feel so patriotic.
I love your videos mate!
Good that you brought up how Canada's real estate market is essentially propped up by foreign buyers, much to the detriment of the locals.
@Max Headrom You do know that there are non-white Canadians right?
@Max Headrom Tell that to the Japanese, Chinese, Indian, and Vietnamese families who've lived in BC for generations. Tell that to Canada's indigenous people, too. To say non-white Canadians don't exist is completely wrong.
Max Headrom many people ages 18-25 are unemployed because school exists? there is actually a shortage of workers in canada. a quick Indeed search in the lower mainland will give you hundreds of of job openings and hirings.
Mike g Same thing is happening in cities in California. Too many foreign buyers buying homes to leave them empty
@max headroom buddy, visit a city or something.
Turned off the hockey game and put down my poutine to watch this in my igloo. Cool video! I often forget our quaint little country has a significant global economy.
The government isn't paying the retired enough due to the present situation affecting the economy...
I think the best way to earn a living is engaging one self in an online investment.
I'm a retired nurse for months now and I'm yet to figure out a plan while staying at home, talking about bitcoin I think that should be a great idea.
Investing in assets is the code for having a successful financial life, investing with the right company or software would free you from modern financial slavery.
bitcoin is at 56k currently now, I believe it will raise up before the end of the month.
@@ericmorris4876 and that's why 80% of millionaires today are investors.
I would want to invest in bitcoin but it's difficult to understand the market.
This is such a great channel. Intellectual subject matter explained so that even the biggest doop can understand it. Good work bro!
The fact that most of the clips you used in the video were shots of places in Toronto that I know since I live in Toronto, this made me mildly uncomfortable for some reason... lmao
All us Canadians who don't live in Toronto felt similarly. :P
I think he truly only showed three parts of Canada in the whole Video. Toronto, Vancouver & the Canadian Rockies.
To is not Canada. In fact the rest of us hope you leave and join the US as you so clearly want to.
Finally, thank you for doing this. I had requested this when you did Norway.
8:00 this guys is ever Canadian favourite person because of his map 🙏
Thank you for your help
Geography has everything to do with a nation's Economy!
Creating Creations Is that really true though? Look at countries such as South Korea and Switzerland. Both are lacking in natural resources, and have a buttload of other geographical disadvantages. Meanwhile you have many poor countries in Africa which have a vast abundance of resources such as diamonds, precious metals and other highly desirable natural resources yet they remain, in many parts of those countries, impoverished. Geography isn't everything
@@buttersquids Hey, great question. So on the case of nation's like Switzerland and South Korea, my personal belief on why they are rich is halfway due to their harsh geography, it made their citizens have to work extra hard to survive harsh winter's or a neighbor who might decide to invade at any moment. I actually live in Thailand, a nation that isn't poor but also isn't rich by any means, and other than corruption, the greatest thing I see keeping people here from thriving is that life here is very easy, they never have very bad weather, ect.. Now all of that said, geography isn't quite everything, sure the USA was blessed with access to both the Atlantic and Pacific Oceans, it has easily navigatable rivers, great farm land, and tons of nature resources, but if it wasn't for free market capitalism and breaking away from being a colony, the USA might not have been any more successful than many African nations.
So yes, you are correct that geography isn't "everything" but it is a major factor. Btw, the greatest geographical features are things like good farm land and access to the Ocean, not gold and diamonds.
Another good example is China, they are quite blessed in with their geography, they have navigatable rivers, excellent farm land, ocean access, natural resources, ect. But China was extremely poor only a couple decades ago simply because the country was ruled by communism where people weren't allowed to own land, start business, ect. But as soon as China started opening up to free market capitalism, it's economy skyrocketed! China though still ruled technically by communism is actually one of the best examples of free market capitalism.
Just a comment/error:
In Vancouver: people can't really be made homeless by property taxes.
The regional(state/provincial level) government has a program that allows people to defer their property taxes indefinitely at a nominal interest rate(1.95%). The property tax only needs to be paid off upon the sale of your property. As property values have increased many fold in the last few years this isn't all that painful.
On top of that, property taxes in Vancouver/greater Vancouver are issued on a 'mill rate.' So essentially the people who levy taxes come up with the amount they want to collect and then divvy that amount up across the region based on the value of their home. So if your home triples in price, as long as the rest of the region triples in price, your property tax shouldn't really increase.
This is clear if you look at historical data. I just briefly looked up a few years but for example in 2014 in Vancouver you were taxed at 0.185% of your property value. But by 2016 that tax rate had dropped to 0.156% of your property value.
Another thing to note that those property taxes are as much as one tenth what property taxes are in some parts of Seattle just a couple hundred km's away.
no but they can be made homeless by people tripling the fucking price
@@MotoMoto-el2dy BC has tightened its residential tenancy laws under its NDP government to prevent that if I'm not mistaken.
@@reillywalker195 Yeah its pretty hard to be evicted here.
Minimum of 2 months notice + 1 month rent paid for "landlord use", which, if proven to be a bad faith justification, results in 12 months rent payable to the tenant. A lot of landlords who aren't up on the new laws and illegitimately bully people out of their tenancy have been getting wrecked recently, $20-30'000 settlements.
Personally i think property taxes are evil. How can anybody claim ot own property of they can be evicted and thier property confiscated due to non payment
Fantastic channel
4:30 I knew you were going to mention Vancouver as soon as foreign and real estate came up.
It may seem like it from the stock photos of Canada in this video, but Toronto is not the capital of Canada, That would be Ottawa. Great video otherwise.
It's not wrong to say Toronto is the "economic capital" of canada
Alexander Moore no, but the GTA has 1/5 of the entire country population (more than the combined populaton of all three Prairies provinces LOL) and 20% (!!!!!) of the country’s GDP. It headquarters every major Canadian company. It is effectively the economic centre of Canada.
Ottawa has no relevance economically speaking. I live here, I know.
@@TCWG87 too much traffic there I hate it
He did actually have one shot of Parliament Hill. You know, amongst the numerous angle shots in the shadow of the CN Tower. =D
Great video! As a Canadian living in Toronto the population growth here is insane. There are towers springing up everywhere but it also means I can't buy a house or even a condo with my single income. They don't seem to be building housing fast enough to keep up even though deregulation in the 90s was supposed to fix this.
There aren’t enough people in the workforce to keep up with new housing demand.
You actually just predicted everything
synopsis: Canada has access to Pacific and Atlantic, it's big empty and cold.
Yeah, don't go swimming 🙄
Except when it's very hot and very densely packed.
Lots of contradictions here.
@@Avenus112 it’s like 30 degrees Celsius right now in Alberta bud, not always cold
@@Michael-be2dy yes, that's what I said.
Its over 90°F in Toronto today. Why do people think we all live in igloos?
Thanks for the informative video!
If you ever do a re-make of this particular video, the following might be interesting points to incorporate;
1. Regional differences in economic performance, and how those differences are addressed. Especially as it relates to EI & equalization payments.
2. Protection of key industries from foreign competition and the implications for the economy. Most notably the banking & financial services, telecom, and airlines industries. Possibly look at our various supply management systems in the argricultural sector.
3. The role of the social welfare system in the economy, including healthcare, social assistance, housing supports, food subsidies for the North, and CPP.
7:59
ah yes, Canadian Alaska
Emperor Norton Was never Russia’s to rightfully sell in the first place.
As it should be
No 😐
great video
I'd be interested in an updated video on Canada with it placed on the leaderboard but also going more in depth on economic issues. Such as the (very politicised) oil laws that are being changed in Alberta. Or the current inflation and economic slump that the country is going through. Also Ontario and Quebec weren't mentioned much if at all in this video despite being very important players in the Canadian industry
Can you make a video about the economics of immigration? I’m especially curious about its effects on lower-income individuals
7:57
“Canadian Sweating Intensifies”
I'm living my Canadian dream. Thank you Canada 🍁
No, thank YOU!
NO YOUR BREATH TAKING
Enjoy it while it lasts, before the liberal government, turns it into a shithole.
i could see my apartment and work building in the clips from downtown Toronto
I'm at your door
Only 20% of Canada's immigration is skilled, 80% is family reunification, tipping the balance of current immigration policy deep into being more harmful for the economy, to say nothing of the social cost.
Canada also has the strong economic benefit of being a net energy exporter.
We also have good water
Julia Lerner and air don’t forget air
I'm Canadian. We have some bad inflation right now. Food and housing is unaffordable.
I'm a Canadian working in the finance industry, you hit the main points. The only thing I would have gone into more detail about are the banking system, and manufacturing, they both contribute a fair bit more than education. I probably would have talked a bit about the diversification of Canada compared to other parts around the world. Not only is the economy itself diverse, if our provinces heavily involved with energy are booming, they pay to other provinces, if the price of oil is falling, the other provinces are theoretically supposed to kick in (we'll see how that goes).
Theres a practical issue over immigration too: The fact that housing can only be built so quickly. You cant let as many people in as you want because the infrastructure has to catch up/
Also the type of immigrants. No im not talking about what race they are im talking about things like "investor immigration" that turned cities like Vancouver into just a playground for the rich that the ordinary citizens immigrants or not can barely afford to live in
Except foreign buyers make up a tiny minority of property owners in Vancouver... Lol.
@@nokkonokko Because Hong Kongers living in Hong Kong with Canadian citizenships don't count as "foreign".
Vancouver is a place to attract rich people world wide.
why don't you move to other places like Calgary? same beautiful city in canada rockies but much more affordable.
I'm in favor of the "Don't move directly to a major city, buy a plot of land and an RV, and live on it until you can order a factory manufactured home to be installed". Hey look, I added to the housing market instead of taking away from it.
Then again, I'm the sort of person OK with a 1 hr commute and would rather live on a medium plot of land with an OK house than a tiny plot of land with a gorgeous house.
How about making a video on the UKs economy? Great video btw.
Definitely need one for the economics of brexit.
random nerd Brexit isn’t about economics it’s about political and judicial sovereignty
@@nosamsemaj9150 it's about fucking ourselves over for no reason
no sam semaj It is also about economics. It has influenced both the economy of the EU, but mostly the UK.
@@nosamsemaj9150 I meant what would be the economic effect of if the UK were to leave the EU as well as what effect has it already had on the EU & Britain. Still I do agree with you it isn't really an economic issue for the brits.
At 8:15 it looks like the international Bridge in Sault Ste. Marie and a great lakes freighter nice
Love all the glamour shots of Toronto!
Never been this quick to click and like a video in my entire life xD
Woohoo, Alaska is finally ours! :P
Victoria, across the waters from Vancouver has the housing problem to an extreme. Average apartments going for millions, mainly due to tourism.
Canada is so polite, we took Alaska 7:57 without a single fire being shot.