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Chapter 12

Chapter 12 . Our Economic Outlook. Sabian Cymbals. LMFAO – Party Rock (Drum Cover) http :// www.youtube.com/watch?v=fzOuCBOuOi4&feature=related. Meductic , New Brunswick. Case Study: Sabian Cymbals. The first Sabian factory opened in Meductic , New Brunswick in 1969.

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Chapter 12

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  1. Chapter 12 Our Economic Outlook

  2. Sabian Cymbals • LMFAO – Party Rock (Drum Cover) • http://www.youtube.com/watch?v=fzOuCBOuOi4&feature=related

  3. Meductic, New Brunswick

  4. Case Study: Sabian Cymbals • The first Sabian factory opened in Meductic, New Brunswick in 1969. • The second factory was opened in 1996. • Sabian Ltd. is the second largest producer of cymbals in the world.

  5. Sabian History • Formerly owned by Robert Zildjian. • The Zildjian company is based in Massachusetts, USA. • Demand for their cymbals grew in the 1960’s due to the popularity of rock and roll music. • Demand increased again when Ringo Starr of the Beatles began using Sabian cymbals. • http://www.youtube.com/watch?v=rzvxlpYUMQY

  6. History Continued • In 1969, a branch plant opened in New Brunswick so they wouldn’t have to pay import taxes on the cymbals. • Reasons for opening the plant in New Brunswick? • Wages were lower. • Workers had a good reputation for producing high quality goods. • New Brunswick was largely made of farmers, and they were familiar with the tools and machinery used. • Owner Robert Zildjian enjoyed fishing in the Saint John river.Making of cymbals:http://www.youtube.com/watch?v=vEgpIFAGksk&feature=related

  7. The Success of Sabian • The success story of Sabian cymbals shows us that economic wealth in a certain area depends on several key things: • The production and use of our own goods and services. • The sale of the goods and services that we produce. • The purchase of goods and services that are produced outside our region.

  8. Quality of Life • How do economists measure this? • The United Nations (UN) uses a number of things to measure conditions in the countries of the world. These include: • Gross Domestic Product (GDP) per person • Birth rate • Life Expectancy • Literacy (ability to read and write) • Maintaining the environment • Racial and gender equality

  9. Countries that have a lot of industry generally rank higher on the UN scale. • Countries that have less industry rank lower in some key areas. • Most industrialized countries are found in the northern hemisphere; most countries with little industry are found in the southern hemisphere.

  10. Industrialized/Non-Industrialized Countries

  11. Human Development Indicator

  12. The Atlantic Provinces • As some countries are wealthier than others, some provinces in Canada are richer than others. • The wealth gap among provinces is known as regional disparity. • As you can see, GDP for the Atlantic provinces is lowerthan the Canadian average.

  13. Why is the Average GDP Lower in Atlantic Canada? • Incomes are lower • The unemployment rate has been higher in Atlantic Canada for much of the 20th century • Most of the jobs in Atlantic Canada are seasonal, which means that a lot of people are employed for only part of the year • Major resource industries like agriculture, fishing, and forestry operate on a seasonal basis. Tourism also had a limited season, which is usually May until October. • The brain drain from Atlantic Canada • Almost 250,000 people have migrated from the region in the last 30 years. These people tend to be the younger, better-educated members of the labour force.

  14. Atlantic Canada: Looking for Solutions • Our economy is now growing. • To make sure services like health care and education remain similar throughout the country, the Canadian government introduced transfer payments. • Beginning in 1957, the government transferred some of the taxes collected in provinces with the highest GDPs to provinces with lower GDPs. • All provinces except Ontario, Alberta, and British Columbia have received transfer payments.

  15. The Importance of Trade • The economy of the Atlantic provinces developed through trade with Europe, the West Indies, and New England. • After Confederation(1867), more emphasis was placed on trade with the rest of Canada. • Today, Atlantic provinces trade with the world. • International and interprovincial trade provided employment for about 222,000 people in 1990, and this has brought in 6 billion dollars in 1992, and more than 10 billion dollars in 1995. • http://www.youtube.com/watch?v=cTt2HIftueE

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