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| Topic: |
Business
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| Number of pages / Number of words: |
9 / 2442 |
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While the downsizing in Canada has been on a much smaller scale than in the US, however it has to be seen in the context of the deep crisis faced by the Big 3 auto manufactures (GM, Ford, Chrysler) as it can precipitate into a much deeper crisis in the future. This downturn has also led to a significant decline in the trade surplus from auto and parts which was down by 70% to $3 bn in 2006 vis-a-vis $10 bn in 2005 ...
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This downturn has also led to a significant decline in the trade surplus from auto and parts which was down by 70% to $3 bn in 2006 vis-a-vis $10 bn in 2005 .
Thus the automotive sector that has been an important contributor to economic progress in Canada, and especially in Ontario, is facing a severe downturn ? with loss of share in its key market the US, job cuts and downsizing, declining profits/surplus etc...
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