Page 14 - flip_2015_Canada_By_Train_The_Complete_VIA_Rail_Travel_Guide

20 Economy
Economy
From a largely agricultural land with emerging urban centres populated through several migrant settlement phases, Canada today towers above the shadow of its struggling past. The economic revolution ignited by the railway and the telegraph system in the early 1800s gradually pushed a steady tide of technological advancement — the combustion engine that modernizes transportation, the assembly line that multiplies industrial production, and the advent of computer networks that links the nation and its people to all parts of the world.
ffffffTTffThese landmark advances paved the way for Canada to become the economic giant that it is today. The rapid technological advancement and opening of international markets have proven vital in spurring and sustaining the economic growth
of Canada.
Today, Canada operates on a so-called knowledge-based or “smarter” economy where the results of technological innovations are largely utilized to produce automated, state-of-the-art machinery and equipment that bring about industrial progress.
Succeeding in a Globalized World
Canada is a wealthy nation that has a high standard of living. Endowed with
gains from new technologies and the liberalization of global trade, Canada continues to evolve from a primarily rural nation into a high-tech powerhouse. From its small domestic market, Canada has successfully expanded multilateral trading relationships to larger, more affluent economies.
On the home front, Canadian businesses benefited from information and communication technology advancements, enabling them to explore buyers and partners anywhere on the globe. The acquisition of new knowledge, enhanced research facilities and intensive service industries has endowed three out of four Canadians with employment.
This transformation has reshaped and strengthened the nation.
Today, Canada is similar to the United States in terms of having high living standards, prolific industrial production and market-oriented policies. Stimulated by the sweeping global rehabilitation after World War II, Canada’s economic sectors, like manufacturing, mining, and services, displayed brisk growths that contributed to the nation’s status as an industrial leader.
The Canadarm in space.