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The Canadian and U.S. Economies: Integration, Not Convergence

The Canadian and U.S. Economies: Integration, Not Convergence

From The Bank of Canada, for About.com

Concluding Thoughts

So, let me summarize my remarks here this morning.

The increasing integration of the Canadian and U.S. economies in recent years stands as a model of mutually-beneficial trade relations. While maintaining distinct monetary, fiscal, economic and social policies and practices—tailored to our particular needs and economic structure—we have managed to forge an open marketplace where goods, services, and capital can move relatively freely. But that doesn't mean that our two economies are converging.

Of course, as we look ahead, there is still more to be done—not only in North America but globally. We should continue to rely on the principles that underpin our successes to date, to help us meet the challenges of a changing world order, and take advantage of the opportunities.

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