Imagine if the American economy hadn’t been going gangbusters in the past few years. No let’s not.
As the Bank of Canada raises interest rates; and another report shows that Canada has dropped down another few notches (to 14th) in the “international index of ethical governments” (I believe that report is all but bogus —Canada should be much further down on the list considering what we know, and what we learn nearly every day now, and to say nothing of what we don’t know about our corrupt government); and Canadian personal bankruptcies rose 5% in the last quarter compared to last year, we have this:
Canada ‘slipping’ in global economy: report
Canada is sagging in its global stature as a wealthy, socially-conscious, healthy nation, according to the Conference Board of Canada’s annual report on the country.
“The message of this report is that we’re slipping,” Anne Golden, president of the Conference Board, said Tuesday on CTV’s Canada AM.
The think-tank has been ranking Canada and other industrialized countries for a decade now in its annual Performance and Potential report, measuring the world’s 24 richest nations in the areas of economy, innovation, environment, education, health and society. The study uses a comprehensive approach that’s based on the premise that Canadians don’t simply seek greater wealth, but better lives.
And the results offer sobering news to Canadians.
In the area of economy, Canada has plunged to 12th place in 2005, from sixth in 2004 and third in 2003, according to the “Performance and Potential” report.
The report still finds that Canada remains one of the best places in the world to live, but it’s falling behind in some key areas.
“If Canada were a child, we would be in the gifted class,” said Golden. “We have so many endowments, great human capital, we’ve got so many things going for us. … But over the years, we’re no longer in the front of the class.”
Golden cites three main reasons behind the slip:
—lagging productivity;
—the improved performances of other countries; and
—the country’s failure to embrace trade.The report finds that Canada’s productivity is stagnating, with a widening income gap between Canadians and Americans to the tune of more than $8,000 US per person. American productivity grew by 3.6 in 2004—triple the Canadian rate.
[…] But the Conference Board says Ottawa has yet to show it will be making any improvements, especially in the areas of removing trade barriers, harmonzing [SIC] the country’s 13 stock exchanges, refining equalization and cutting capital taxes.
On health care front, Canada has fallen from eighth to tenth place. The board took Canada to task for its high child poverty and infant morality rates, and the continued shortage of health care professionals. […]
It’s not all bad news. For example, we have an election coming up very soon. This will give Canadians the chance to vote for conservative folks who can clean up the corruption, get Canada’s national security back, get Canada on a more sound financial footing, as well as turning Canada back into a country of strong values and morals as it once was. So I’m very optimistic and you should be too!
PTBC was founded by Mr. Johannesen in 2000.
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