The Harper government has been subtly urging Canadian businesses to seek markets outside the USA. This is particularily true for businesses in Ontario and Quebec where the balance of trade flows south.
Dr. Doom suggests why that may be:
At best, the US economy is headed for a U-shaped recovery this year, Roubini said. That has been his prediction in recent months.
The US faces challenges in the second half, especially as fiscal stimulus measures fade, and “appears far too close to the tipping point of a double-dip recession,” he said.
The euro zone is also facing an increased risk of a double-dip fall, because of its ongoing debt crisis, he wrote.
Even if the euro zone does not suffer a double dip, growth in demand will be even more limited and this will hurt the United States’ potential for export growth …
… it’s a good thing Ontario and Quebec voted for Obama.
*snip*
It was rather obvious from the rapprochement between
Mr. Harper and the Indian PM, and with the Chinese
chief of government, that this is government policy.
And a sensible policy, too. It was also Mr. Martin’s
policy, or rather policies. As Finance Minister
he favoured foreign trade, especially with the Far
East (following, perhaps, his own business
interests). That came somewhat a cropper when
Japan entered into a prolonged recession.
It’s amusing, the so-called “rebuke” to Mr. Harper
from the Chinese leader was quite the opposite.
The Obama administration, on the other hand, has
obviously upset and annoyed the Chinese.
As for Canada, we need alternative outlets for our oil.
If the moonbats to the South prevent the US from
following a sensible energy policy, we should be
in a position to sell to the Chinese, who
execute moonbats.
hudson – methinks there was a lot less obozo love in Alberta than the rest of the country…
I’d be more concerned about the recent bills introduced by democratic congressmen to withdraw from NAFTA, particularly if I was in Ontario or Quebec. The level of sheer stupidity involved to actually suggest a withdrawal is mind-numbing, and not just because free trade between Canada and the US has brought unprecedented prosperity to both nations. The US is currently in no financial state to dictate trade sanctions to other countries, particularly Canada. We are their largest supplier of oil, a trusted and much needed ally in security issues, and in a strong and secure financial position. I believe that Harper, depending on the severity of these threats, has the right to haul obama to the hill to give him a serious dressing down and to suggest that he get his congress under control lest he face serious reciprocal trade restrictions.
How sweet would that be? He could get away with it to. Obama took it from the Chinese after all…
How can the US pull out of NAFTA? We got that huge highway coming up from Mexico to Canada.
Well said Mark… The NAFTA threat is a cheap political trick for votes
A members Bill in Canada, suggesting a trade currency other than the US dollar, may be effective in countering these stupid people
The US will never, ever pull out of NAFTA.
Even under the Chimpy McBamaHitler regime.
I think Canadian businessmen are smart enough to sell their stuff to anyone who will buy it without government advice.
Just imagine, for one ghastly moment, that we, in Canada, had the Troika with Ducippe running the country hiding behind the grey cloak of Count Iracula and his yapping jackal. We would not be mocking the poor people in the south who have a fool in the Whitehouse; we would have our own three stoolies – and ours would be worse!!
Spelling and grammar dropped off towards the end there, sorry 😛
I don’t think they will either, it’s more likely that more intelligent heads will prevail…but it’s infuriating that we even have to revisit these issues. And though most of it is likely posturing by politicians nervously eyeing the impending midterm elections, I very much think that some of these congressmen/women actually would pull out of NAFTA if they had their finger on the button. It’s indeed interesting how the US is seen as a staunchly capitalist, free-trade nation despite the fact that they have always had a strong protectionist streak running through their nation….
Stephen Harper and Jim Flaherty hold modest but superb leadership qualities. “It’s the economy, stupid” doesn’t just apply to immediate economic environments and contemporary political strategies. The ethical cultavations and oversight of an economy it is what drives functional and nurtured societies. It’s the rain and the fertilizer that allows dignity and the best human qualities to develop and win out.
I believe that both Harper and Flaherty are not only thoroughly accomplished authorties in the field of realeconomiks today, but they also live their lives with a sense of traditional moral values – regardless of what the Victorian metrosexuals at the CBC have to say.
Bona fide terminal values and competence are two of the top qualities of surperb leadership in my book. It’s not a coincidence that Canada is a relatively prosperous rarity amongst world economies in this economic crisis. It’s all about policy and the people behind it.
I didn’t vote for him.
Can Alberta annex my little piece of Ontario?
Curious: according to our constitution we are bereft of property rights and Ontario and Quebec have the majority of seats in the only house in parliament that has any effective power therefore the answer to your question is yes.
The chickens are coming home to roost! (as Owebama’s favorite racist preacher keeps reminding us)
Yup … the “W” our American friends are getting this time is recession dip …
US: keep outsourcing. Situation normal.
Just got back from a few days in NW Washington for a little R&R. Some notable things I saw in my travels…..
Vacant space in retail strips and malls, very prevalent. Don’t know if this is legacy, or just newer areas where space had not yet been filled, but it was noticeable.
Got away from the hustle bustle, and noticed -many- subdivisions in that abandoned stage, that reminded me of the early 80s in BC, where people walked away from developments, and they sat int his condition for 10 years or so.
whatever we see in the MSM, don’t believe ‘recovery’ or whatever they call it. The US is indeed in extended trouble. Those jobs they lost are long gone, and that economic bubble they went through was only about putting people in houses that had no chance of affording them. While a good portion of the pain is over, they are far, far away from any kind of recovery, this is just a plateau, no better, no worse…..yet.
When they have to deal with their massive deficit, things will really get ugly. Greece is just a waltz, compared with the train coming straight at Obamaland.
Dan,
Like I said many times here, my wife is a dressmaker and her small business flourished when outsourcing to China savaged US textile industry. We were able to buy equipment, fabric and notions from the factories going out of business at fraction of cost. But it’s coming to an end, as the stocks dry up – nothing left, people grow pot in the former textile shops across the Northern states.
Now we arrived at exactly that moment, when entire generation of skilled workers, who lost their jobs to Chinese, are heading for the graveyards. Is it a coincidence that China has jacked up prices on absolutely everything they sell us? Remember those $5 running shoes? They are history and we are paying $50 for the same kind of crap.
They know that w/o skilled labour there is no way in hell we could repatriate industry now and are laughing all the way to the bank/Communist party meeting.
Congratulations, keep outsourcing, short sighted dummies.