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Erschienen in:
2015 | OriginalPaper | Buchkapitel
Close to the Epicenter: Mexico and Canada during the Great Recession
verfasst von : Jaime Ros
Erschienen in: Development Macroeconomics in Latin America and Mexico
Verlag: Palgrave Macmillan US
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Canada and Mexico, the two minor partners of the North American Free Trade Agreement (NAFTA), have very different levels of economic development. In spite of this, their economies have a number of common features. First, both economies have traditionally had a privileged link with the United States in foreign trade (that manifests itself in the enormous weight of the United States in exports and imports of the two countries). Second, as a consequence of NAFTA they have tended to converge in their degrees of openness (currently in the two countries foreign trade accounts for around two-thirds of GDP). Third, they have similar export structures dominated by industrial products and a significant share of oil.