Introduction
Canada is one of the North America countries that cover the northern part of the continent. The country has diverse economic and cultural background. The country is composed of ten provinces which include Manitoba, Nova Scotia, New Brunswick British Columbia, and Alberta Newfoundland, Labrador, Prince Edward Island, Saskatchewan, Quebec, and Ontario.
Initially, the country was run through constitutional monarchy. The House of Commons has the governing responsibilities in the country. The governor general has a significant role to play in governing the country. However, he is supposed to act under the advice of the Canadian prime minister. The governor general acts as a representative of the Queen Elizabeth II.
Cultural Characteristics
The Canadian cultural aspects have been greatly influenced by the colonial past. Most of the cultural aspects are characterized by the former colonies that had a large impact in influencing the country in various ways. In connection to this, most of the Canadian culture has been historically influenced by the British and the French cultures.
Privacy is considered as a norm in the Canadian culture (Itim International 2011). Any attempt to intrude in ones privacy is faced by fierce rejection. People have adapted to this culture and any intrusion in others’ private issues is taken with opposition. Therefore, the issue of privacy is very critical in Canada.
Canada is one of the countries with the highest individualisms where people are more focused in individual lives (Itim International 2011). It therefore reveals the aspects of an individualistic attitude where there is a very lose bond among the people in the society. In most cases, people are engaged in their independent activities with the aim of achieving personal goals rather than the community or society goals. People are more inclined to perform their own things rather than working as a group.
In Canada, the people are self reliant or independent. Individuals are more concerned about themselves as well as their close family members (Itim International 2011). Individuals play little attention to the community needs or collective needs of the society. There is little effort made to meet the needs of other members of the society. However, the ability to meet these needs varies across different people in the society.
In the contemporary times, drastic changes have taken place in the Canadian culture. The Canadian culture is becoming more influenced by the American culture. This has come as a result of migration. The rate of migration between the two countries has significantly increased. Interactions among the people have equally increased. Consequently, people exchange many cultural aspects among themselves. As a result, many cultural aspects in America are being integrated into the Canadian culture.
Political Stability
Over the past years, the Canadian government has been determined to propose the party of national unity by promoting unity among the politicians and the citizens. Both the majority and minority have shown cooperation in realizing unity among them. However, there have been a number of circumstances where various issues have risen For instance; there has been an increasing demand for independence among French Canadians. Nonetheless, this has been always solved by continuous interventions.
Despite of the efforts to maintain democracy in Canada, there have been a number of conflicts among the people. In fact, social conflict has been one of the main concerns of the Canadian government (World Bank Institute 2010). There have been persistent conflicts among the Quebec, English, and French groups.
These groups have been crying for their own political identity that is unique and independent. These groups have also been trying to bring political reforms based on their views. This conflict has posed a major problem in the Canadian political stability. The government is however determined to unite the groups in order to solve the conflict.
In Canada, the political system consists of several political parties. Some of the main political parties include the new Democratic Party, liberal party of Canada as well as the conservative Party of Canada. The Supreme Court of Canada has the overall power over the judicial system. This is led by nine judges.
Market Stability
In Canada, trade plays a pivotal role in promoting the well being of the economy. The country has a favorable business environment, a fact that has attracted many investors in the country. This has contributed to the economic well being of the country. Market stability is one of the economic aspects that play a pivotal role in determining the performance of an economy both in the short run and long run (Hill 2011).
Canada has been ranked among the top seven countries in the world in terms of ease to conduct business (International Finance Corporation 2011). Many investors from all over the world looks at these criteria in making their investment decisions. As a result, Canada has attracted many investors in the country. This has led to a drastic economic growth in the country. Foreign investment in the country has also contributed towards generating employment opportunities hence overcoming the problem of unemployment.
Canada has also been ranked number three in the world as one of the countries where it is easiest to start up a business. This is because the country has managed to remove the main barriers that may be faced by new investors in the economy. Again, his has attracted a large number of investors into the economy. In Canada, investors are well protected by the law. Therefore, it is easy to establish and run a firm in Canada. The environment is conducive for investors and the regulatory measures are manageable.
Despite of these achievements, Canadian economy has been faced by several problems. For instance, it is difficult fort investors to get financial assistance in Canada compared with other countries like United Kingdom (International Finance Corporation 2011). There is therefore a need to come up with necessary financial assistance for such purposes. It is also more difficult to conduct cross border trade in Canada due to trade restrictions.
Basic Economic Data
Canada is one of those countries that have recorded a good performance in their economies. Since the year 1945, Canada has been working closely with the World Bank and other members in an effort to achieve a common vision. This has significantly contributed towards improving the economic well being in the country.
Canada has been ranked among the top countries across the world that has significantly contributed to replenishment of the funding base of World Bank (World Bank 2011). This reveals the fact that Canada is economically stable. The country has significantly contributed towards assisting many financial institutions. However, a large percentage of this amount goes to the World Bank.
Although the country has been performing well, some sectors have recorded poor performance. For instance, the Agricultural, fishing, hunting and forestry has recorded negative growth of 3% (Statistics Canada 2011). This poses a great threat to the economy because majority of the population relies on these industries as their main sources of income. These sectors also provide employment to many people in the country. Therefore, this failure may have a multiplier effect in the country.
According to the recent statistics, Canada has recorded very low cases of debts in its financial accounts. For instance, the country did not record any debt and long term instruments in its financial transactions.
Canada has a stable GDP. Since the year 2010, the country’s Gross Domestic Product has been increasing significantly. For instance, the country recorded a gross Domestic Product of 1, 235, 077 million dollars seasonally adjusted at annual rates (Statistics Canada 2011). This has increased to 1, 263, 262 million dollars in the year 2011. This reveals that the economy is performing well as the GGDP growth indicates.
Key Institutions, Political and Economic Systems in Canada
Canada has a federal system of parliament. The issue of democracy is emphasized in the leadership through this system. Every system has a chance to speak out and be listened without any form of intimidation. This system is closely related with parliament of the United Kingdom. As earlier noted, this can be attributed to colonial history.
Although the systems are similar, several alterations have been made, the fact which has raised some differences. When compared with other countries, Canada’s political system is better and stronger. This is so because the country has managed to observe democratic values in all aspects. For instance, democracy has been enhanced through confidence voting system. Therefore, people have the right to make independent decisions according to their wishes.
As already noted, Canada has one of the strongest economies in the world. The country is a high technology society where most economic tasks are done by machines. This has led to a significant improvement in the country’s per capita output. The economy is market oriented.
This implies that most production activities are geared towards the production of goods and services for commercial purposes. This is opposed to subsistence production where production is purposely directed for consumption. After the World War II, the ecopnomy’s sectors of manufacturing, service, and mining have grown significantly. These revolutions have transformed the rural economy into industrial urban areas.
Just like many countries around the world, the Canadian economic system cannot be referred as either purely capitalist or socialist. Rather, both aspects have been integrated to come up with a hybrid economic system.
Major Current Issues in Canada
In conclusion, the above discussion has clearly revealed about the economic, cultural, and political issues in Canada. Politically, the country has been facing problems in trying to bring into peaceful coexistence among different groups. These groups have been fighting over political independence and changes in the country’s political system.
However, the government is doing all the necessary to solve these issues. There has also been an imbalance in the provincial political powers. This has raised concerns since this may lead to conflicts. Another major issue in the country is that of Aboriginal accountability. However, this problem can be solved by implementation of Aboriginal self government and then push on payment of tax.
Economically, the country has recorded a good performance with upward growth trend of the total GDP. However, some sectors like the Agricultural sectors have been recording a downward trend over the recent past. This poses a major risk in the economy since a group of people relies on these sectors for their livelihood. There has also been a poor accountability in the Federal Government. This poses a major concern as it may affect the quality of the public services significantly.
Reference List
International Finance Corporation. (2011). Economy Rankings. Web.
Itim International. (2011). Cultural Dimensions; Canada. Web.
Statistics Canada. (2011). Statistics. Web.
World Bank. (2011). Countries and Regions. Web.
World Bank Institute. (2010). Governance. Web.