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Word Count: 1,300
The United States of America has become a major power in the world The American economic industry has an important role to the Canadian economic industry providing the majority of trades that Canada is involved in The United States also has a major role influencing Canadas culture through media the importance of the US is presented In politics economics and culture the United States has a large influence on many other countries especially its neighboring country Canada Canada has a affluent high-tech industrial economy that resembles the economy of the United States Both Canada and the US share a similar per capita output market- oriented economic system and use the same pattern of production The US has invested into the Canadian economy operating firms in telecommunications broadcasting publishing energy mining and financial services In a forecast made by the Bureau of Economic and Business Affairs of the US Department of State Canadas economy was projected to grow 36 per cent in 1999 and another 31 per cent in 2000 According to these projections Canada is in line with the United States to lead the OECD in economic output Canadas import and export industries have benefitted from the strong US economy with 85 pre cent of Canadas exports going to the US As the US economy slows Canada will suffer in its external trades The neighboring countries have grown to become the largest bilateral merchandise tra de relationship in the world mainly because of its close proximity and integrated manufacturing sectors In 1998 the US and Canada was 368 billion in total two-way trade in goods and service this is more than US trade with the rest of the Western Hemisphere The US and Canada also share one of the worlds largest bilateral direct investment relationship The stock of Canadian foreign direct investment in the US was 75 billion and the US foreign direct investment in the Canada was 104 billion Canada
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