We have to think about our economic future
In recent days, former prime minister Stephen Harper publicly criticized the Trudeau government for what he said was its mishandling of the negotiations with the U.S. government to reach a new North American Free Trade Agreement.
In response, the government denounced Harper for undermining the national interests of Canada on such a critically important issue.
Notwithstanding the rightness or wrongness of Harper’s criticism, it comes at a time when this country’s economic future should be a major concern for all Canadians. Are Canadians adequately prepared for the economic challenges and risks that will confront this country in the future?
It’s a question some are beginning to ask more frequently as they observe the growing trade and economic challenges on an international scale, some adversely affecting domestic stability, as is occurring in the U.S. due to the divisive and disruptive trade and other policies of U.S. President Donald Trump.
And while governments everywhere have understandably emphasized the soundness of their economies and banking systems, others remain concerned that some of Trump’s unpredictable and America First policies are undermining international trade.
Trump’s heavy-handed efforts to force Canada and Mexico to accept a new tripartite trade deal that clearly advances American interests at the expense of the U.S.’s trading partners is raising fears over where the Canadian economy might be heading, especially since the U.S. is the largest export market for Canada.
No Canadian province or territory is immune from that reality.
If that situation weren’t already a genuine worry, there is another. This country has consistently failed to develop all the advanced technological skills that other countries have realized. This failure is clearly evident from the relatively low number of patents received by Canadian individuals and companies.
Efforts by Canadian governments to support technological advances have not yet had a positive impact on this country’s economic progress, despite some achievements, such as the acclaimed Canadian-built space arm.
Some view Canada’s relatively abundant natural resources as one factor that caused the country to lag in highly tech-based economic sectors. In their opinion, the widespread availability of natural resources in Canada’s vast territory, has, like massive oil fields in the Middle East, undermined the commitment to invest in other economic sectors, resulting in an over-emphasis on mining, forestry, agriculture and fisheries.
To many, concentrating on mining, forest products and agriculture made good business sense, especially when a massive consumer market awaited such exports across the border.
Others of a less charitable inclination have seen Canada’s perceived lack of widespread technological innovations and advances as partially based on a lack of entrepreneurial drive and avoidance of risk among either the Canadian business community or Canadian government officials.
Notwithstanding such concerns, it is important to bear in mind that Canada is very much a work in progress. This country is slowly evolving into a far different society, with historical links with Britain and France steadily eroding.
It’s clear that if Canadians want to see their country become a meaningful member of the world’s sophisticated and advanced societies, Canadians will have to make important decisions in coming days.
And as they ponder what kind of Canada this should be, they might wish to ask their sons and daughters where they see themselves in such an evolving society.