Canadian Business and Trade UNIT 1 Outline PDF

UNIT 1 Has International Business made Canadians wealthier? What does International Business look like? What are the five benefits to International Business? What are the five downsides to International Business? What are the five concerns for foreign companies doing International Business? Examples...

UNIT 1 Has International Business made Canadians wealthier? What does International Business look like? What are the five benefits to International Business? What are the five downsides to International Business? What are the five concerns for foreign companies doing International Business? Examples? How does Walmart keep their prices low? How many Walmarts are there in the world? Is Canada an exporting or importing nation? What does importing mean? What does exporting mean? What are the three top Canadian exports? What are the two generalized things that countries import/export to other countries? Is the export of Canada’s oil a significant part of our GDP? What are the three things that oil is used for? Which five provinces refine oil to export to other countries? Which two places do the oil pipelines in Canada end/connect to? What are the economic benefits of oil? What are the economic downsides of oil? Which two countries in the world consume the most oil? Is Canadian oil always in demand? Which place in the world does Canada rank in producing oil? Is Canadian oil crude or from tar sands? What is crude oil and which countries have crude oil? How is it refined? What is tarsands oil and which countries have tarsands oil? How is it refined? Is the process of refining tarsands oil expensive? When the price of oil increases, will Canadian producers produce more oil? Is Canadian oil always profitable? Does Canada rely on producing oil? What does BPD stand for? How many BPD of oil does the world produce per day? How many BPD of oil does Canada export? What is the history of the TransMountain pipeline? How many BPD of oil is the TransMountain pipeline responsible for? Who does the federal government want to sell the pipeline to now? What are some issues/questions associated with this? How much money did the Liberals spend to buy the pipeline? How much money did they spend on the construction? What are some of Canada’s imports? Which is more critical: importing or exporting? Is a country that imports seen as a country with high/low demand for its goods and services? What is a trade deficit? Examples of countries? What is a trade surplus? Examples of countries? When is Canada in a trade deficit/surplus? What are the five factors impacting a country’s ability to import? What are some of Canada’s imports? A depreciating dollar is good/bad for importers? A depreciating dollar is good/bad for exporters? An appreciating dollar is good/bad for importers? An appreciating dollar is good/bad for exporters? How does importing/exporting lead to higher prices (ex: food prices)? What are the four causes/factors that affect the value of a country’s currency? What does China do to drive their export economy? What does Canada bring people into our country to do? What are the 3 things these people are vital for? What four regions do these people come from? Do these people work temporarily or permanently in Canada? Most of these people come into a program called what? Where do these people come fron? What are the 5 sectors the TFW exists in? What size are the companies that recruit TFWs? What are the four upsides to TFWs? What are the four downsides to TFWs? What is a concentration of imports? How many countries in the world grow cocoa beans? What are these countries? 70% of the world’s cocoa beans come from which countries? 50% of the world’s cocoa beans come from which countries? What are the four issues/questions about import concentration? UNIT 2 Which country is our largest trade partner? What percentage of our exports does this country occupy? What does Canada export to this country? Six things. The more _________ a state, possibly the deeper trade relationship with Canada. Whoever is in power can create business ________ or business _______. Does Canada want stability in American governments? What is a tangible good? What is an intangible good? What does Canada trade with the US? Do Americans know about the Canadian companies in their country? Is our relationship with the US always smooth? Why has our relationship with the US become uncertain over the last decade? How can we “fix” them? Name five. Is it still better for Canada to build a relationship with the US? Why or why not? What are some consequences to signing a trade agreement with the US? Name three. What is globalization? What are the six forms? When did Canadians start to realize the benefits of the trade agreement? Who spearheaded the trade agreement? What are the six benefits of globalization? What are the harms of globalization? What is the opposite of globalization? What is its meaning? What are the benefits of protectionism? Is Canada protectionist or globalized? Do foreign companies like to invest in Canada? How do they do so? What are durable goods, examples? What are government subsidies? What are they used for? How does the government attract foreign companies? How much money have they spent? What are the benefits to attracting foreign companies into Canada? What are the downsides to attracting foreign companies into Canada? Define: geopolitical, blocs, IMF, fragmentation, multitude, tepid, volatile, retaliatory, tariffs, economic turmoil, global headline inflation, subsidies What are pros and cons to subsidies for foreign companies? Five points each. Difference between loan/grant? What is opportunity cost? What is the multiplier effect? What is “a decline in stuff”? Why is there “a different turn” for globalization? Is China filled with low-waged workers? Are there more trade barriers or less trade barriers than before? Are shipping companies finding globalization difficult? Why or why not? What is technology replacing in terms of importing/exporting, give an example. UNIT 3 Which country has the world’s largest economy? Is China a democracy? What three things are China’s economy based on? How has China been able to keep wages low? What has this resulted in for foreign businesses? What about inflation in Canada? What sector is China shifting to in order to create economic growth? The regular person in China has been asked to be a ____ instead of a ______. Difficult because China is a culture of ______ over ________. What would harm the world more, a recession in China or in the US? UNIT 4 What do the following stand for: NAFTA, USMCA, CUSMA? Are they all the same, or different? What countries does NAFTA involve? What is the world’s largest trade agreement? NAFTA gives all 3 countries access to each other’s ________. The idea behind NAFTA is to ____________ tariffs to allow businesses to do what? What did Trump want to do to NAFTA? Who negotiated with Trump to give up little to the US (for Canada)? What are the 3 things Trump wanted to be changed about NAFTA? Was the US in a trade deficit or a trade surplus? Trump wanted all automobile manufacturing to be in ___________ but ended up exempting ___________. Now _________ to all American cars are made in the USA. Trump wanted _______ farmers in particular to have greater access to Canadian grocery stores, went from ______% to ______%. Why is it not the end of the world if Trump erects tariffs on Canada? What significance does the value of our dollar make? Is it more/less than the impact of tariffs? If the value of our dollar _______ we can (import/export) more cheaply. Does Trump want to lower corporate taxes in the US? Will this help Canada, and how? Tariffs are a one-time ___________. The actual price of a tariff is shared between the _____, ______, and _______. When are tariffs inflationary? When is the new NAFTA going to be negotiated (in which year)? In which two countries is this causing panic? Both countries will have to deal with _________-first mentality. More than _____% of our exports go to the US. These exports are at risk of ______ or being canceled. Significant threat of job loss in the following sectors: ____________ and ____________ It is possible that tariffs on Canadian exports will be ______%. Give an example of how this is going to be more expensive now for American buyers. Canada may implement ______________ back on USA imports into Canada on the _________ sector, for example. Targeted tariffs on a state are what? They could be in the state of _______________. What is a digital service tax (form of retaliatory tariff)? What does it apply to? How many countries are in the EU? What is the EU? What are some countries in the EU? What is the idea/purpose behind the EU? Is the EU a monetary or a fiscal union? What is a monetary union? What is a fiscal union? What is monetary policy? What is fiscal policy? Ideally you want ____________ to sync with ___________. But the EU is a complicated place filled with __________ and therefore _________ is often inconsistent between countries. The EU now looks different because economies in ________ are now growing economically while former powerhouses like ________ are no longer growing economically. Former industrial powers are ____________ industrial powers. For example, the _____________ is struggling in Germany due to ________ and competition from ______________. Also this sector is highly unionized, so hard to get rid of __________. Germany no longer imports _______ from ________. Greece and Portugal have become hot ______________ which helps their economy. Thus, there is a lower ___________ in Greece and Portugal causing people to ____________ there. Greece is more ____________, __________, ______-oriented, and has a new ___________. What happened in Greece in 2008? Four things. What is Brexit? Importing and exporting (trade) has become _____________ → lots more paperwork. This process is (cheap/expensive). Brexit has made British businesses somewhat ___________. Shortage of _____________ in Britain → creates ___________ → locals pay ____________. Importing from the EU is much more (easy/hard) after Brexit → this harms the _________ sector a lot. Overall was Brexit a good idea? Four reasons for Brexit? What does the WTO stand for? When was the WTO created? What does the WTO do? Five things. What does the WTO believe? What are some of the problems with the WTO? Is Canada based on rule of law? Does Canada have a strong economy (comparatively)? Does Canada rely on the WTO? To do what? The WTO implements _______ to protect Canada’s _____________ from stronger countries like __________________ or ______________. What is a dispute mechanism? Example. Is the WTO for/against tariffs? What sector are low-income countries looking to trade in? (name 1 sector) Are the rules for international trade legally binding? Do countries always follow these rules? Are all countries part of the WTO? How is the WTO funded? Which countries contribute more? The WTO is composed of __________ which are appointed by the ______________. However, ________ does not appoint __________ so the WTO struggles solving ________. The WTO is struggling with its _________ and why? Does Canada need a strong WTO? Why or why not? Canada is a __________ nation competing with wealthier nations. UNIT 5 A barrier to trade _____ or ____ or _____ trade between two countries. Why do trade barriers impact Canada? In what ways (2 ways)? There are more/fewer trade barriers around the world? This means that countries are becoming more _________ (globalized/protectionist). Why is this bad? Trade creates ______ amongst ______, _______, and ________. What is a tariff? What you tax _______! What is currency exchange? Is there a fee to currency exchange? What is a sanction? What is the purpose of a sanction? Examples of countries that Canada sanctions? Are sanctions vague or specific? What are examples of non tariff barriers? What is a trade embargo? Give an example of a trade embargo. Which province and which two countries were involved? What is a trade quota? Example of trade quota in Canada? What is supply management? What type of trade barrier is it? What products does this system apply to? Canada implements a ______ on __________________ for dairy products by _____________ the amount that can be __________________. These restrictions ensure that Canadian farmers do not have to compete with ______________. Four advantages of supply management and four disadvantages of supply management. Does supply management help rural communities, why or why not? Do consumers in Canada pay higher/lower prices for dairy products? Do farmers have to enhance quality of dairy because of this system? Too much self-______ can harm us. Why are lots of milk tossed away by farmers?​ Why is supply management a barrier to trade? Why are the 3 reasons we still implement supply management? What is big milk? What does it do? Many dairy, egg, and poultry farmers are based in ________ and __________. ________ provinces determine which PM is elected. Many Canadians are ___________ that they are paying ___________ for dairy, eggs, and poultry. These dairy goods are ________ which means that prices don’t matter to consumers. Is supply management a critical strategy? There is currently a law being passed, what does it involve? What is the most well known trade embargo? What product does it involve? When did it happen? __________ stopped exporting ________ to ___________. What impacts were there for this embargo? 3 impacts. When oil becomes more scarce, there are __________ at gasoline stations. When oil becomes expensive, this means that consumers have (more/less) money to spend. This causes a ________ in the economy. Why did this trade embargo start? What did the US do? Who did this upset? Embargos can be _______ but are only on one specific item. Could a similar trade embargo on oil today have the same impact? 4 reasons. What is OPEC? Canada is the world’s _____th largest oil producer? Does Canada rely on oil as our only energy source today? The USA is now an energy ________________. They are the #______ producer of _________. What is the difference between a trade sanction and a trade embargo? Canada sanctions countries that does not _______ or _______ with. A trade sanction ________ or completely ________ international ______, ______, and _______ between 2 countries. 3 examples of Canadian sanctions? Four countries we sanction? Why do we sanction Russia/Iran? Do sanctions on other countries work? Are they effective? 4 reasons yes, 3 reasons no. Do sanctions take a long time to work? Are all sanctions created equal? Do sanctions tend to change government behavior? Have sanctions on Russia affected Russia? 4 reasons yes, 4 reasons no. _________ are at an all time _________ in Russia. Russia has access to _________, a strong country. Economic growth in Russia can still occur through ____________. It is (hard/easy) to untangle world trade. What is the carbon adjustment tax? Does Canada apply the carbon adjustment tax? Which countries does the carbon adjustment tax apply to? Who sets it? What is being taxed for the carbon adjustment tax? Mainly ______ goods. Examples? The value of our Canadian dollar is currently ____________. This means that it’s more ________ to import than it is to export. Thus, Canadians who travel to the USA have to pay (more/less) for currency exchange. Why does the value of our dollar matter to people and jobs? Why has our dollar value dropped recently? 3 reasons. Traditionally, our dollar value has been pegged to the price of ____________ → if the price of ______ drops, our dollar value ________ and vice versa. Our economy is heavily reliant on _______ from the _______. When tariffs are applied, it hurts our ______ and _______ dollar value. The higher the __________/_______ rate, the more likely our dollar will ______ in value. Who/what wins when there is a lower dollar? Four points. Will a Canadian business that sells in American dollars benefit or be harmed by an appreciating/depreciating dollar? The value of our dollar is (floating/fixed). The value of China’s dollar is (floating/fixed). What is a floating dollar? What is a fixed dollar? The value of our dollar is a trade ______ but also an _______. What is softwood lumber derived from? 3 sources. These trees are ______ or chopped to make _______ items or used in _______. Why is softwood lumber important to Canada? How much does the US tariff our softwood lumber by? Why? What is crown land and the significance? What are stumpage fees? Are they higher/lower on crown/private land? How can Canadian softwood lumber producers handle this situation? When has this been going on since? Is this the longest trade dispute on Earth? What is the Canadian province exempted? What does BYD stand for? What do they make? Where do they operate? What do they make in Canada (2 things) and where are they based? Are BYDs affordable, or expensive? Why? (Discuss labor and supply chains) What parts of the supply chain does BYD own? Three parts. Is there a growing/stagnant demand for electric cars in the world? Where specifically? BYD has succeeded in ______ first before expanding ________. Why are BYDs not for sale in Canada or the USA? Six reasons. ____% tariffs will be applied by ______ or ________ on BYD cars. Who heavily subsidizes BYD? Why is this unfair? UNIT 6 What is a supply chain? What are the factors affecting supply chains? 6 factors. What is the breadbasket of Europe? Tariffs ______ (slow/make efficient) supply chains. What is the office for truckers? Where does the 401 start and end? What is transported on the 401? What is the world’s largest shipping company? How many tangible goods does Maersk carry? Who is the largest exporter in the world? Where does Maersk start its journey? What is the plus one strategy? Which countries does it involve? 3 countries. What other forms of transportation does Maersk use? What is the Gordie Howe bridge? What does it replace? What type of goods are transported on the bridge? _____% of trade occurs on the Ambassador. This new bridge has _____ lanes. It is an attempt to make our supply chain more _________ and ease ________ on th either bridge. This bridge costed _________ dollars. Three benefits and 3 downsides of this bridge. The Panama canal carries cargo from _____ to _______. Who owns it? _____’s growing influence in the canal has unsettled _____. ______% of US imports travel through the canal. The Panama canal continues to be a reliable supply chain while water levels ___________. Do most businesses know the origins of their products? _____ businesses know the origins of their supply chain while ______ businesses don’t. If companies don’t use ethical supply chains what is going to happen? Companies that have more than ______ employees and ______ in sale need to ___________. Canadian customers are becoming more and more concerned about what?