Canada will see timely benefits as global trade picks up. Prospects for the domestic economy are not strong, but exports are already rising nicely. Domestic weakening should help to free up capacity for exports, which is running pretty tight in some industries. In others, there is capacity to absorb growth.
The HuffPost blog from the Fraser Institute's Senior Director, Natural Resource Studies, Kenneth Green, set out to make me look uninformed based on my submission to the U.S. State Department on the proposed Keystone pipeline. From his first words, it was pretty clear he didn't grasp the concept of writing a letter.
Recently, Green Party leader Elizabeth May orchestrated an open letter to United States Secretary of State John Kerry, urging the U.S. to reject the Keystone XL pipeline. In her note, Ms. May states that she sent Mr. Kerry "4 facts about Keystone XL." Unfortunately, two of Ms. May's facts aren't actually facts, and two of her facts are so lacking in context as to constitute merely factoids.
More than a mere few US retailers assume that expanding into Canada, because of its relatively small population (the population of California alone, at about 38 million, is larger than Canada's roughly 35 million), is akin to expanding into just another state. Making this assumption -- blindsided by the admittedly vast similarities across all walks of life -- is downright dangerous.
When international trade collapsed in 2009, the Canadian economy turned inward, and for a change, discovered a steady source of growth. That source is now tapped out, and economy-watchers have for some time turned their eyes back to trade. So far, the view has been uninspiring. Will Canadian trade carry growth forward, or is our hopeful gaze in for a big disappointment?