Lessons from the crisis The roots of the crisis that has beset the world for nearly three years lie in regulatory and supervisory deficiencies in the main financial centres.
The higher prices for many of our exports, coupled with lower prices for imported goods, have led to an improvement in our terms of trade and rising incomes for Canadians - particularly for producers of commodities, including metals and energy products. In this environment, we have seen a rapid increase in the external value of the Canadian dollar.