canada and international business

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Canada and International Business
Introduction
Canada is an outstanding country to do business at the international level. The country has a stable, independent government; a robust and stable legal system; strategic investment in education and technical training; as well as an innovative research and development environment, which provides a welcoming environment for potential investors by providing opportunities for companies that are seeking skilled labor. Canada’s economy is extremely diversified and has witnessed considerable growth in the recent years. The country’s GDP growth rate averaged 1.2 percent from 2008 to 2012, which was the highest among the G-7 countries (International Monetary Fund 3). Moreover, it is anticipated that the country will remain among the top performers through 2017. It is imperative to note that Canadian banks performed extremely well during the global financial crisis that lasted from 2007 to 2009 partly because of the government’s concrete approach to regulatory and risk management. Overall, it is important to understand Canada’s legal and business landscape to do business in the country successfully.
The Canadian Legal System in a Business Context
Canada is constitutionally a federal state, with some powers allocated to the federal government while territorial and provincial governments control others (McEwen and Luis 189). From a business perspective, provincial laws have more weight than feder…