Why was Canada less affected by the 2008 global recession?

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2026-03-13 20:10

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Canada was less affected by the 2008 global recession due to its strong banking system, which had stricter regulations and avoided risky mortgage practices that plagued the U.S. Additionally, Canada benefitted from its natural resource sector, particularly oil and minerals, which helped sustain economic growth during the downturn. Moreover, government stimulus measures and a relatively stable housing market contributed to mitigating the recession's impact.

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