The United States will still account for largest absolute economic growth over the next 20 years.
Shifts in global labor markets toward knowledge intensive industries will highlight the scarcity of well trained talent in North America. Global sourcing will become as important as manufacturing strategies. An estimated 33 million university-educated young professionals in developing countries will be the key to companies establishing a U.S. presence.
Economic indicators in 2006 suggest the housing market is cooling, inflation is trending upward and the sizeable current-account deficit persists.
Strong economic ties with the U.S. and member of the NAFTA.
85% of Canada’s exports are to the U.S., and 59% imports come from the U.S.
Embraces diversity and immigration.
Canadian economy is currently booming –buoyed by energy and commodity prices, its trade surplus reached record levels in 2004.
Facing an aging population it must reform immigration rules to help fill labor shortage.
The U.S. is integral to Canadian economic outlook and trade ties. A Canadian market assessment from the perspective of the US government is beneficial in understanding the socio-economic climate and cultural difference between these two North American giants.
Centers of economic activity will realign as a consequence of economic liberalization, technological advances, capital market development and demographic shift. Within the next 20 years Asia (excluding Japan), which today accounts for 13% of world GDP will match Western Europe at 30% of world GDP.
Almost a billion new consumers will enter the global marketplace in the next decade, as economic growth in emerging markets raises incomes increasing discretionary spending.
Consumer spending in emerging economies will increase from $4 trillion to more than $9 trillion within the next 10 years.
India’s mobile phone market is growing by around 55% per year and has 140 million subscribers, up from 5.6 million in 2001.
Dramatic shift in manufacturing and IT services to Asia and within Asia.
Indian market assessment indicates that it is at the leading in IT designing processes, biotechnology, laser technology and nanotechnology and will progress in leaps and bounds over the next decade.
Indo-U.S. relations are at an all time high. To understand the relationship between these two countries it is essential to understand the socio-economic climate of this vast, culturally diverse nation and it’s new found identity in “India Shining”
