The chickens have come home to roost.
Canada has dropped OFF the list of Top 10 competitive countries in attracting investment, development and jobs.
The International Institute for Management Development, based in Lausanne, Switzerland has ranked Canada as 13th in its 2019 ranking of financially attractive countries … slipping from 10th last year … continuing our decline to our WORST ranking since the index began in 1997.
“The ranking takes into account a wide range of ‘hard’ statistics such as unemployment, GDP and government spending on health and education, as well as ‘soft’ data from an Executive Opinion Survey covering topics such as social cohesion, globalization and corruption,” reports the UK’s Daily Mail.
“This information feeds into four categories – economic performance, infrastructure, government efficiency and business efficiency – to give a final score for each country.”
Top 10 in this year’s list: Singapore; Hong Kong; USA; Switzerland; UAE; Netherlands; Ireland; Denmark; Sweden; and, Qatar.
A big factor in Canada’s decline, according to the Huffington Post, started with the 2015 decline in world oil prices.
But it adds: “A lot of long-term problems in Canada’s economy seem to be finally catching up to us, and one major issue that expert after expert cites is Canada’s relative lack of innovation and creativity.
“The country’s business leaders have a reputation for being cautious, and following the crowd rather than taking risks on new ideas. That means Canada has fewer opportunities to create new businesses, and it makes the country uninteresting for foreign investors (except those looking to park cash in our housing market, that is).”
WHY aren’t business innovators and foreign investors as ready and willing to take risks and spend huge bucks in Canada anymore? And putting their money … creating development, jobs, expanding the public revenue base elsewhere?
I put it to you it’s the NEGATIVISM they see and hear towards development so often, so loudly, so stridently in Canada these days … from a minority of Canadians … the anti-development activists, environmental extremists, perpetual anarchists and First Nations obstructionists … but who too many governments pander to at all levels.
Judging from Canada’s decline in the rankings, I’d say increasing numbers of “global corporations” feel too many Canadians see them as enemies … especially when it comes to resource development and mining. (Some, in fact, have already given up and walked away, even after investing/losing hundreds of millions of dollars trying to get projects going in Canada.)
That word gets out.
How many billions in lost investment has Canada lost so far … and will it lose in the future …. because of our slip down the world’s investment competitive rankings?
None of this is to suggest we should not address the problems of the environment, development impact concerns and even land claims/jurisdictions.
However, the goal must be to seek solutions … ways to get to “YES” … not just to blockade, obstruct and prevent … but to get those developments/projects/investments/revenues/jobs.
And get Canada back in the Top Ten on next year’s competitive index … not see us drop further down.
Ironically, it’s often the very people who scare away investment … the anti-development crowd, environmental extremists, anarchists and First Nations obstructionists … who seem to scream loudest, demanding MORE public housing, MORE for welfare, MORE services/facilities on Reserves, MORE for public transit, MORE for health care, MORE for education and even MORE public spending to fund guaranteed incomes.
ANY country slipping to its WORST ranking ever in the competitiveness index will find it increasingly difficult to meet those demands. And Canada is no exception.
Especially, as long as our governments continue to pander and surrender to the loud obstructionist extremist minorities … and ignore the interests of the larger, but quieter, progressive majority.
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