Canada is a nation well-known for being the United States' largest trading partner. It has long benefited from its neighbor to the south, but it seems the tide is shifting, putting Canada in an interesting position from a growth perspective. Canada has stopped focusing on productivity and attempting to lower its unit labor costs. Instead, it has used capital to invest mostly in financial assets. This shift has led to a deterioration in the standard of living, but it has also come at the cost of lower economic output for Canada in general. This highlights the differences between the two economies and what this means for Canada and Canadians going forward.
Canadian politics seems to focus on games about perception with corruption in the background. I'm really not hopeful either party will make the long term (multiple term) investment and policy commitments necessary to deliver real growth.
Anecdotally people I know who own businesses seem to think "growth" comes from exploiting foreign labour or cheap immigrant labour. The Canadian mindset doesn't seem to contain real productivity growth, only scams, loopholes and the like.
Good if sobering article.
Canadian politics seems to focus on games about perception with corruption in the background. I'm really not hopeful either party will make the long term (multiple term) investment and policy commitments necessary to deliver real growth.
Anecdotally people I know who own businesses seem to think "growth" comes from exploiting foreign labour or cheap immigrant labour. The Canadian mindset doesn't seem to contain real productivity growth, only scams, loopholes and the like.