Canadians had it hard in the last few years when it came to finance. Even though there had been two interest rate increases this year in 2017 fostered by growth in the economy, the loonie have not shot up much, nor is the increase sustainable. The root of the problem isn’t the low interest rates that Canadians were enjoying, it was the economy as a whole that impacted the low loonie. Canada relief heavily on trading partners and their main sources of revenue were real estate property taxes and oil.
While Canadian real estate has boomed rapidly over the years, debts also had the same trend. This means that Canadian banks right now are extremely nervous about any increase rate increases because this could result in higher default rates, which jeopardize the economy if banks default. After all, banks are one of the primary indicators of how confident the economy is doing. When banks default, there will be a chain reaction where citizens and companies will be nervous. This could mean shutting down businesses to save costs or to setup new businesses elsewhere due to better opportunities.
The problem with oil is that nowadays, there is less demand for oil. Electric machinery and cars are becoming the trend and renewable energy are heavily invested in globally. The Canadian government have to make very careful policies here because while increasing interest rate can bring in new opportunities for businesses and generate higher savings as the loonie strengthens, it can also create defaults. It is really a double edge sword for policy makers.
Not to mention, the problem with Trump being the president creates extreme uncertainties throughout the world. As of right now, USA and Canada are in talks in regards to NAFTA and the outcome can really determine the direction of Canada in the coming years. The better news is that immigration has become easier and more foreigners are immigrating to Canada which brings new skillset for the economy and opportunities. While this has created some criticisms, only time will tell whether or not Justin Trudeau’s decision to open up immigration policy will have a great impact or not. I believe that the Canadian economy is in a bottleneck right now due to numerous factors mentioned above and only time will tell if the new strategy of opening a new tech hub will help strengthen the economy. After all, it is tech that is booming and in high demand. Everything is tech nowadays, from mobile apps to software and security, to automation and artificial intelligence.
Some greater news; Canada has an excellent reputation for their education system and this reputation is widely accepted and recognized around the world. This means that more visa students will be attending post secondary in Canada; no wonder why tuition fees have been on the rise. Now, visa students all share the common weakness, English. This means that they have a disadvantage when it comes to obtaining high grades that involves oral and written English skills. There are many resources that these students can use such as online assignment help or private tutors to improve their English skills. Many students opt for the tutor option because they presume that the tutor can spot their strengths and weakness and create a tailored road map to how to improve their situation. Folks, this old tradition doesn’t work anymore. We have many new tutors out there who provides very marginal help. Most are just money grabbers. That is why students have shifted to assignment help service providers.
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