The Canadian Economy & the Global Economic Crisis Essay

The Canadian Economy & the Global Economic Crisis - Essay Example The researcher states that the global economy is presently in crisis reminiscent of the Great Depression of 1929. The global economic crisis began with a US credit crunch and mortgage crisis and has had ramifications throughout the modern, capitalist developed world. The researcher of this essay aims to analyze how has the Canadian economy handled the global economic storm during this period of near universal economic contraction and what can the world learn from the Canadian economic model and how has it been successful. Seeking to explain these question and others which deal with the first global economic crisis of the twenty-first century, this research paper explains and evaluates Canada’s policies in light of global economic meltdown. Calling Canada a â€Å"role model† for other countries around the world, the World Economic Forum called Canada's banks the worlds’ â€Å"soundest†. Presently, the Canadian dollar is around $.97 USD, which is historicall y high and is thought of by many as an indication that the Canadian economy is doing well. Strong macroeconomic policies have ensured that the Canadian economy remains vibrant today. Asking whether or not this is the case, the following will explore Canada's response to the global economic financial crisis. The researcher also demonstrates an intervention, that Canadian government has played in stimulating the Canadian economy when it needed it most. Accordingly, Canada today represents a model to be emulated during the most profound global economic crisis since the Great Depression