Why Canada must reap the spoils of global trade
William Polushin is founding director of the Program for International Competitiveness at the Desautels Faculty of Management, Ï㽶ÊÓƵ, and President of AMAXIS, an international business and operational development services firm.
As global events of the past few weeks have shown beyond any reasonable doubt, whether we like it or not, our economic well-being is inextricably tied to economic and political happenings beyond our expansive borders. It's important to take a step back and re-examine Canada's position in the global economy.
As a mid-size economy, with a relatively small population and domestic market, this comes as no surprise. From the perspective of a trading nation, it is not a question of whether or not we export, import, or invest abroad, it is really a question of what, where, and how much?
On the export front, Canada sold $478.1-billion worth of goods and services abroad in 2010. This is up from $439.5-billion in 2009, but down from a peak of $563.1-billion in 2008. Among our G7 peers, Canada is second only to Germany in total exports as a percentage of GDP...
Read full article: , August 4, 2011
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