- Aug 6, 2012
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You see, when America does it, it's "protectionism". When Canada enters American corporations and interferes actively in the free market, it's "security".
Above and beyond Canadian interference in the lives of it's citizens and businesses, consider the regulatory environment and former "Crown" corporations. Many banks who are now in the free market, were once fully state owned. These same businesses are the ones getting a very favourable environment in which to work, and yet, they are sitting on many billions of dollars in cash but refuse to invest in Canada, why is that? No faith perhaps?
Add a border tariff and renegotiate NAFTA. The fact that Canada doesn't like it, suggests it's a great move for America.
Poloz warns protectionism ‘rarely succeeds’; urges open borders
The head of the Bank of Canada Governor took to Canada’s industrial heartland to make an impassioned historical case for Canada to maintain open borders for trade, investment and immigration, counter to the rising protectionist sentiment in the United States and other key western economies.
In a speech Tuesday at Durham College in his hometown of Oshawa, Ont., a major hub for Canada’s globally linked automotive industry, Stephen Poloz traced Canadian history back to the War of 1812 to illustrate how these three key pillars of economic internationalism have fuelled Canada’s prosperity – and how periods of global protectionism have hurt growth both here and among our trading partners.
“I find the correlation between economic progress and openness to be striking,” Mr. Poloz said in the prepared text of the speech. “When trade barriers are falling, when people are coming to our shores and when investment is rising, Canadians prosper.”
“The flip side is that responding to tough economic times by turning inward rarely succeeds.”
“What experience has shown is that the fears of openness are misplaced,” he said. “Protectionism does not promote growth, and its costs are steep.”
Mr. Poloz’s speech comes at a time of uncertainty for Canada’s trade relationship with its biggest trading partner, the United States, as new U.S. President Donald Trump has said he wants to renegotiate the North American Free Trade Agreement, the cornerstone for the flow of goods, services and investments across the Canada-U.S.-Mexico borders. Mr. Trump has indicated he wants more favourable terms for U.S. businesses and workers, but he has yet to provide any specifics on how he might seek to change trade terms with Canada. Meanwhile, global trade has remained slow to recover from the 2008-2009 global financial crisis and Great Recession.
It also comes at a time when Canada’s domestic business investment has been in a prolonged slump, fueling calls in some quarters for renewed efforts to attract more foreign investment.
Above and beyond Canadian interference in the lives of it's citizens and businesses, consider the regulatory environment and former "Crown" corporations. Many banks who are now in the free market, were once fully state owned. These same businesses are the ones getting a very favourable environment in which to work, and yet, they are sitting on many billions of dollars in cash but refuse to invest in Canada, why is that? No faith perhaps?
Add a border tariff and renegotiate NAFTA. The fact that Canada doesn't like it, suggests it's a great move for America.
Poloz warns protectionism ‘rarely succeeds’; urges open borders
The head of the Bank of Canada Governor took to Canada’s industrial heartland to make an impassioned historical case for Canada to maintain open borders for trade, investment and immigration, counter to the rising protectionist sentiment in the United States and other key western economies.
In a speech Tuesday at Durham College in his hometown of Oshawa, Ont., a major hub for Canada’s globally linked automotive industry, Stephen Poloz traced Canadian history back to the War of 1812 to illustrate how these three key pillars of economic internationalism have fuelled Canada’s prosperity – and how periods of global protectionism have hurt growth both here and among our trading partners.
“I find the correlation between economic progress and openness to be striking,” Mr. Poloz said in the prepared text of the speech. “When trade barriers are falling, when people are coming to our shores and when investment is rising, Canadians prosper.”
“The flip side is that responding to tough economic times by turning inward rarely succeeds.”
“What experience has shown is that the fears of openness are misplaced,” he said. “Protectionism does not promote growth, and its costs are steep.”
Mr. Poloz’s speech comes at a time of uncertainty for Canada’s trade relationship with its biggest trading partner, the United States, as new U.S. President Donald Trump has said he wants to renegotiate the North American Free Trade Agreement, the cornerstone for the flow of goods, services and investments across the Canada-U.S.-Mexico borders. Mr. Trump has indicated he wants more favourable terms for U.S. businesses and workers, but he has yet to provide any specifics on how he might seek to change trade terms with Canada. Meanwhile, global trade has remained slow to recover from the 2008-2009 global financial crisis and Great Recession.
It also comes at a time when Canada’s domestic business investment has been in a prolonged slump, fueling calls in some quarters for renewed efforts to attract more foreign investment.
