In his column for CTVNews.ca, personal finance contributor Christopher Liew outlines how Canada might avoid a recession, as well as some risks that could contribute to one.
Even if one or multiple sectors go through periods of contraction, other sectors may remain steady or even expand.A strong banking sector can improve consumer trust, and Canada’s banks are large employers that actively contribute to the economy while remaining stable.in the country have a bank account, according to the Canadian Bankers Association.From fiscal stimulus packages to increasing interest rates, the Canadian government isn’t afraid to intervene in an effort to prevent a recession.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership : a free trade agreement among eleven Pacific Rim countries aiming to reduce tariffs, strengthen economic ties, and promote trade and investment across the region.Both of these free trade agreements aim to reduce trading barriers, which promotes easier market access between countries and can lead to increased job creation and business development.
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