FIVE THINGS ABOUT DAVOS AND JUSTIN TRUDEAU

1

FROM RESOURCES TO RESOURCEFUL

Prime Minister Justin Trudeau used his keynote address to differentiate himself from former prime minister Stephen Harper, who often used the meeting to tout Canada as a resource powerhouse. Trudeau said Canada’s natural resources remain an important part of the economy, but the country’s growth doesn’t depend on what resources lie underground. “I want you to know Canadians for our resourcefulness,” he said. Calgary Mayor Naheed Nenshi, also in Davos, said he wouldn’t have used the same language, and instead called Canada’s economy “resource-plus.”

“We are a resource economy. Our biggest export is still energy and I do not see a path where that does not continue to be the case,” he said.

2

‘THE ENGINE OF INVENTION’

Trudeau pointed to the success of University of Waterloo graduates in Silicon Valley and the school’s eclectic student population, calling diversity “the engine of invention.” And he framed Canada as a safe place to invest amid global economic uncertainty.

3

PROMOTES MORE SPENDING

The theme of the Davos meeting is “Mastering the Fourth Industrial Revolution,” which is focused on how technology

4

GLOBAL TRENDS

Before the meeting, Trudeau’s advisers told him that global trends — social and economic — would affect the domestic economy despite Canada’s solid policy foundation and a well-educated population. His briefing binder says those international trends “could be occurring at a faster pace and on a larger scale compared to previous eras.” Those trends included more disruptive technologies, the declining financial influence of the West, and aging populations in Canada and other countries.

5

CELEBRITY HANDSHAKES

Trudeau is a political celebrity at the meeting and his officials want to take advantage of the doors that open by getting him as much face time as possible with international power brokers. He has meetings scheduled with Royal Dutch Shell CEO Ben van Beurden, Microsoft CEO Satya Nadella, Facebook COO Sheryl Sandberg, and billionaire George Soros.