Changes to World Economy Leave Canada Behind


    Canada is not keeping pace with changes to the world’s economy, says ‘Winning in a Changing World’ from the Norman Paterson School of International Affairs at Carleton University. Despite recent developments in trade talks with Asia and Europe, the report reflects the broad fear of Canadians that we are failing to seize the moment and are instead allowing world events to dictate our economic path and future prosperity. Canada must instead reach out to significant emerging markets to secure its economic future as depending almost exclusively on Western economies for future prosperity is not sustainable, it says. It makes 14 recommendations to governments and business leaders designed to build a new national consensus like the one that championed the first Canada-U.S. Free Trade Agreement and, subsequently, NAFTA. Included in their recommendations are more deliberate trade and investment strategies that harness Canada’s comparative advantages with select emerging markets.