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Montreal's economy is the second largest of all cities in Canada [1] and the first in Quebec. [2] Montreal is a centre of commerce, industry, technology, culture, finance, and world affairs. In 2022, Metropolitan Montreal was responsible for $233 Billion CDN of Quebec's $425 Billion CDN GDP , [ 3 ] with a population of 4.37 million people. [ 4 ]
The economy of Quebec is diversified and post-industrial with an average potential for growth. [5] It is highly integrated with the economies of the rest of Canada and the United States. Manufacturing and service sectors dominate the economy. [6] The economic heart of Quebec is the Montreal metropolitan area where half of Quebecers live.
The Grand Trunk Railway of Canada linked Toronto and Montreal in 1853. Lines to Portland in Maine (which was ice-free), Michigan and Chicago, were subsequently opened. By 1870 it was the longest railway in the world. The Intercolonial Railway, finished in 1876, linked the Maritimes to Quebec and Ontario, tying them to the new Confederation. [17]
By the 1980s, Toronto had surpassed Montreal as Canada's most populous city and chief economic hub. During this time, in part owing to the political uncertainty raised by the resurgence of the Quebec sovereignty movement, many national and multinational corporations moved their head offices from Montreal to Toronto and Western Canadian cities. [74]
By 1734 Quebec City and Montreal were connected by a road, Le chemin du roi, along the north shore of the St. Lawrence. The 267 km distance could be traversed with great difficulty and discomfort by horse-drawn carriage in four to five days. Most roads were of very poor quality especially in wet weather.
The Art Deco façade of the former Toronto Stock Exchange building. The Toronto Stock Exchange is the largest in Canada.. As the country’s commercial and financial hub and one of the largest financial centres in the world as per the British Global Financial Centres Index, Toronto hosts the Toronto Stock Exchange (TSX), the third largest stock exchange in the Americas by market capitalization ...
A devaluation could also result in an outflow of capital and economic instability. [2] In addition, a domestic devaluation merely shifts the economic problem to the country's major trading partners, which may take counter-measures to offset the impact on their economy arising out of a loss of trade income arising from the initial devaluation.
Quebec, a province in Canada since its foundation in 1867, has always been the sole majority French-speaking province.Long ruled by forces (such as the Union Nationale) that focused on affirmation of the province's Francophone and Catholic identity within Canada, the Quiet Revolution of the early 1960s prompted a surge in civic and economic nationalism, as well as voices calling for the ...