Canada and Pacific Rim

1
Canada and Pacific Rim

• Notes 1
• Pages 406 to 415
• Part A

2
Rise of Pacific Rim

• Economic Shift from Europe to Asia
• 1980s Asia most economically dynamic area in
  world
• Pacific Rim are countries on or near Pacific
  Ocean
• Divided into Asia-Pacific and America-Pacific
• Trade blocs and alliances key to economic success
• Continued trade in PR requires close political,
  economic and cultural connections

3

• New Trade Relations
• PR important to Canada
• BC called gateway to the Pacific
• Greater trade since 1989 with Asia-Pacific than
  with Europe and USA
• Increased investment and immigration from Hong
  Kong driving factor
• BC diversified resource-based economy to include
  high tech and research and development
• Hong Kong investors fuelled real estate
  development

4
Asian Economics

• Rise of high tech infrastructure in 1960s
• Foreshadowed Japans/Asias rising industrial and
  economic power
• During 1980s and 1990s poor Asian countries
  retooled and fueled expansion of the global
  economy

5
Canada and Pacific Rim

• Notes 1
• Pages 406 to 415
• Part B

6
Two Types of Economies Mixed and Central

• Mixed Economies
• Most world economies mixed
• Favoured by social democracies
• Supply of goods and services determined by market
  place/private business
• Wealth distributed by taxation, govt control of
  key industries, bargaining by labour
• Portion of wealth funds socials programs
• Welfare, unemployement insurance, health care

7

• Central Economies
• State owns all resources
• Controls production and distribution of goods and
  services
• State controls wages and public utilities
• State expected to redistribute wealth fairly and
  provide social, educational, health and welfare
  services
• Communist economies are central
• China is example