Canada’s crippled tourism industry must be revived

Impact of COVID on tourism greater than 9/11, SARS, '08 economic crisis combined

Canada’s crippled tourism industry must be revivedThe COVID-19 crisis led to significant travel restrictions around the world. Canada has totally or partially closed its borders to tourists and non-essential travellers. Travel between provinces has also been restricted. Provinces such as New Brunswick, Prince Edward Island, Newfoundland and Labrador banned non-essential travel or all travel between provinces. And we were told not…

Can Canada establish profitable trade links with South American bloc?

Taking a neutral position can give Canada an advantage. But government will have to be pragmatic

Can Canada establish profitable trade links with South American bloc?In November 2018, Canada and Mercosur opened free-trade negotiations. Any such deal represents great potential for Canada – but there are concerns. Mercosur – Argentina, Brazil, Paraguay and Uruguay – is a bloc with a gross domestic product of over $3 trillion and a population of 261 million in 2019. That compares to the GDP of…

COVID-19 has driven governments into debt traps

Printing money to address short-term needs will lead to inflation and dampen any potential economic recovery

COVID-19 has driven governments into debt trapsThe financial consequences of COVID-19 and the shutdown of economies are difficult to evaluate. But some of those consequences have begun to appear and could hinder economic recovery. Inflation is one of these harmful consequences. In the United States, consumer prices jumped 4.2 per cent in the 12 months through to April, up from 2.6…

Why Canada’s latest deal with the U.S. creates trade barriers

Canada must be aware that protectionism has returned which makes international trade complicated

Why Canada’s latest deal with the U.S. creates trade barriersCanada faces new pressures on any attempts to ramp up international trade. In 1994, the United States, Mexico and Canada created a free-trade region with the North American Free Trade Agreement (NAFTA). Considering that the U.S. has been the largest economy in the world from 1994 to now, NAFTA was a true asset for the…

How the Western world failed in the face of the COVID-19 crisis

Bureaucracy was a significant obstacle to effective action

How the Western world failed in the face of the COVID-19 crisisThe COVID-19 pandemic has taken countries, governments and people by surprise. Most of us weren’t prepared to face this crisis. Most Western countries initially refused to panic and wanted to manage the situation like other illnesses such as the flu. But the outbreaks in hospitals and other medical facilities in most countries led to true…

Weighing the success of the various vaccine rollout strategies

Decentralization of supply management led to better results

Weighing the success of the various vaccine rollout strategiesVaccines are seen as the key to ending the COVID-19 crisis. But creating a vaccine is one thing; having enough of it for the population is another. Here comes the problem of supply management. From the beginning of the crisis, many pharmacy laboratories worldwide tried to develop a vaccine against the virus. Some of them…

The lessons we’ve learned from COVID-19 crisis management

We need to cut red tape so we can respond efficiently during times of crisis

The lessons we’ve learned from COVID-19 crisis managementThe pandemic took many countries – governments and their citizens – by surprise. Many weren’t prepared to face such a crisis. Initially, most Western countries refused to panic and wanted to manage the situation like another flu epidemic. But the outbreaks in hospitals and other medical facilities in many countries led to chaos, forcing governments…

Prairie provinces debt levels a ticking time bomb

An economic burden for future generations

Prairie provinces debt levels a ticking time bombThe debt in Canada’s Prairie provinces has grown colossally during the COVID-19 pandemic, just as debt has in the rest of Canada and around the world. At the end of 2020, Alberta’s debt was estimated at $98 billion, Manitoba’s was $28.6 billion and Saskatchewan’s was $15 billion. These debts are an economic burden for the taxpayers…

Canada-U.K. trade links more important than ever

Brexit can also be an opportunity for members of the Commonwealth to strengthen their trade, social and military ties

Canada-U.K. trade links more important than everBrexit has allowed the United Kingdom to establish an independent trade policy outside the expectations of the European Union. European law and treaties signed by the EU no longer apply to the U.K. Accordingly, the British government signed the Trade Continuity Agreement with Canada. The agreement, which took effect on April 1, maintains the intent…

Working from home may revolutionize businesses

And lead to a reshaping of communities

Working from home may revolutionize businessesStay-at-home orders related to COVID-19 have changed working habits. The mandatory work-at-home advice for office jobs has created a debate about work after the health crisis. Will we continue to work at home or will we return to the office? Some have stated that people who work from home must have lower pay. The research team…