MONTREAL, Jan. 27, 2021 /PRNewswire/ -- Sanwa Alterna Brokerage has today said that the Canadian economy is expected to experience economic growth throughout 2021. Canada's biggest priority comes from the newly elected U.S. president Joe Biden, as their administration looks to re-enter the Trans-Pacific Partnership agreement, which would boost trade in North America.
The Asia-Pacific is now the world's leading region of economic growth. Upon re-entering the Trans-Pacific Partnership, Canada will secure a free trade agreement with ten other Asia-Pacific countries, offering major opportunities for both trade and expansion.
"Canada is a trading nation. 70% of the country's economic output comprises international trade alone, and we see a strong administration committed to open trade and economic recovery. The United States hugely influences the Canadian economy, and with the last few years of US-China trade wars likely to come to an end, we see a positive uptrend growth for Canada's economy this year." said Michael Sharpe, Head of International Equities at Sanwa Alterna Brokerage.
Economic researchers from Sanwa Alterna Brokerage highlighted that Canada's national inflation rate lowered to an annual rate of 0.7%. Economic growth has been projected to accelerate to 4% in 2021 and approach the 5% benchmark in the following year.
Ken Keisuke who heads up the Market Intelligence department at Sanwa Alterna Brokerage commented "Canada has been one of the major countries that have supported fiscal stimulus and are committed to continuing support further if needed over the next couple of years. These efforts have ensured that interest rates stay low, and they have also positively affected the lowering of unemployment rates."
Financial stock markets have rallied to all-time highs since bottoming out from last April, and both the Dow Jones and the S&P are now up by more than 60%. With investor confidence increasing on the global economy's state entering a full recovery from the coronavirus declines, markets continue to rally.
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Sanwa Alterna Brokerage was founded in 2011 to provide a streamlined wealth management and investment service for high-net-worth and ultra-high-net-worth private investors and corporate clients. We have partnered with people and businesses for two decades, incorporating a forward-looking approach that has guided our success.
