Some have even gone so far as to suggest that Toronto’s financial district should be shifted to Calgary.Īt the same time, during the last two decades there have been instances of heavy job losses in long-established manufacturing enterprises in the east. However, this has had the effect of shifting economic emphasis westwards away from Montreal and Toronto towards cities such as Calgary, in Alberta. Canada now ranks third in the world in proven oil reserves behind Saudi Arabia and Venezuela, and is the world’s fifth largest oil producer. The country's petroleum sector has been rapidly expanding because the province of Alberta’s oil sands have significantly boosted Canada’s oil reserves, albeit slowed as the oil price slump had its effects. Moreover, Canada's major banks emerged from the financial crisis of 2008-09 among the strongest in the world, owing to the early intervention by the Bank of Canada and the financial sector’s tradition of conservative lending practices and strong capitalisation. Enthusiasm for independence has abated since the Canadian House of Commons passed a symbolic motion in 2006 which recognised the Québécois as 'a nation within a United Canada’, and since the outcome of worrying election incidents.Įconomically Canada is similar to the US, with a market-oriented economic system and model of production, a high-tech industrial society, and high living standards. In both cases the vote was to remain part of Canada, but the second referendum was a very closely run thing. The Parti Québécois governments have twice held referenda on sovereignty, in 19. Provincial politics have dominated Quebec for decades. The Nord-du-Québéc region, occupying the northern half of the province, is sparsely populated. Most of the province’s inhabitants live in urban areas near the Saint Lawrence River between Montreal and Quebec City – the provincial capital. Quebec is bordered nationally and internationally by the Ontario, New Brunswick and Newfoundland and Labrador provinces of Canada, and by the US states of Maine, New Hampshire, Vermont and New York. 8.2 million, at 1Q2016) province in Canada after Ontario, and the only one to have a predominantly French-speaking population, and French is the sole official language for the province.
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