- located on the eastern edge of Canada, the first entry into the continent was by Europeans. - Its natural resources have been exploited for centuries, making it an 'old' resource hinterland. - Its small and highly dispersed population offers only small markets and few manufacturing opportunities. Distance from the markets of Central Canada has curtailed its trade within Canada and thus dampened its economic development. For that reason, its natural resources are exported to world markets, especially to New England, rather than to the more distant markets in Central Canada. Originally, the people of Atlantic Canada exploited the rich cod fishery, but this resource has collapsed. Highly valued species, such as crab, lobster, and shrimp, and offshore oil and gas have brought new hope for economic development. ATLANTIC CANADA Maritimes and Newfoundland/Labrador are bound together by a rich "sense of place" The ocean dominates the culture and history of Atlantic Canada Economy is heavily dependent on primary activities (resource extraction: fisheries, forestry, agriculture, energy exploration) Core/Periphery Model: Atlantic Canada is a downward transitional region (see UNIT 4) DOWNWARD TRANSITIONAL According to Table 1.4, page 21…. It means: Economy is declining… GDP going down Unemployment is rising Out-migration is occurring (esp. young people) Often, this is an "old" region that is dependent on resource development for its economic growth Now that these resources have passed their prime or have been exhausted, the economy tends to stall Canada's oldest hinterland Lowest GDP, highest unemployment rate (see Table 1.1, next slide) Unemployment rate is at 11.5% (above national average) Out-migration is very high --> mostly to Ontario, Alberta and BC Reasons for weak economic performance: geographic division into sub-regions (transportation costs are high) limited resource base small internal markets…
