However, when it becomes the official currency of Europe in 2002, it will be the first time since the days of the Roman Empire that Europe has been under one currency. The U.S. economy is strong but showing signs of slowing down causing some fear of inflation and recession. The economic role of China is growing in importance, as the most populous nation takes an increasingly active role on the economic world stage. The price of crude oil is causing the price of fuel to rise, which has had an impact worldwide. Talks have been initiated to expand the North American Free Trade Treaty to include South America.
Service sector remains the fastest growing sector in Canada's economy.
The technological revolution continues to have a growing impact on the Canadian economy. High-tech continues to be the driving influence behind the success of the Canadian and the American economies. The rainy and cool summer of 2000 had a negative effect on tourism in Ontario. Box stores continue to have an impact on the Canadian economy. Non-traditional items are being sold in stores.