Washington Consensus lit the fuse blowing apart the modern world

We’ve allowed market forces to replace a host of political-economic goals and considerations, and we’re far worse for it

Washington Consensus lit the fuse blowing apart the modern worldPax Americana, the long-standing U.S.-inspired post-war world order, is unravelling like a cheap carpet. Apart from catastrophes like Venezuela, Britain's chaotic retreat from the European Union, or the threat from President Donald Trump to pull the United States out of the North Atlantic Treaty Organization, there’s the shocking rise of anti-western authoritarian regimes in Iran,…

Canadian merchandise trade deficit balloons to $2.1 billion

Exports fell almost 3% in November, mainly as a result of lower crude oil deliveries

Canadian merchandise trade deficit balloons to $2.1 billionCanada’s merchandise trade deficit with the rest of the world widened from $851 million in October to $2.1 billion in November, according to data released on Tuesday by Statistics Canada. The federal agency said that was due to exports falling by 2.9 per cent in November, mainly on lower crude oil exports, while imports decreased…

Trans-Pacific trade deal carries huge potential for Canada

The agreement gives Canada a bargaining chip in dealing with large players outside the pact, such as China and the U.S.

Trans-Pacific trade deal carries huge potential for CanadaThe reworked Comprehensive and Progressive Trans-Pacific Partnership trade agreement between Canada and 10 other nations kicks in on Dec. 20. The federal government heartily endorses the deal it rescued after the U.S. administration abandoned it. But it concedes the deal itself may only increase Canadian gross domestic product by an estimated $4.2 billion, or about…

China sets debt traps, threatens militarily and seduces

We must be on guard as China carves a disturbing global role that goes well beyond trade malfeasance

China sets debt traps, threatens militarily and seducesAs China and the United States escalate their trade talks (or trade war), China is carving a disturbing global role that goes well beyond trade malfeasance. China has emerged as an old threat revived, the authoritarian seducer. The latest Human Freedom Index, published by Canada’s Fraser Institute, the U.S. Cato Institute and Germany’s Friedrich Naumann…

U.S. imports of Canadian heavy crude oil continues to grow

U.S. is by far the world’s largest refining market for heavy oil, processing more than half of all that type of crude globally in 2018

U.S. imports of Canadian heavy crude oil continues to growA new report released on Tuesday by IHS Markit says imports of Canadian heavy crude are an increasingly important source of supply to the United States, the world’s largest refining market for such crudes. The report, Looking North: A U.S. Perspective on Canadian Heavy Oil, said U.S. imports of Canadian heavy crudes will approach 2.8…

Justin Trudeau exposes his weaknesses, again

His political acumen falls short, as does his ability to stay on narrative or even appear genuine

Justin Trudeau exposes his weaknesses, againCanadian conservatives like to argue that the mainstream media does its darnedest to protect Prime Minister Justin Trudeau’s public image at all costs. By and large, this statement is valid. Yet there are moments when even the media can’t protect his backside – or doesn’t want to. Case in point: the PM’s interview with Rosemary…

Getting your veggie fix, from home and abroad

With El Nino on the way, vegetable prices will likely rise next year. But you can always opt for local produce – for a little extra cost

Getting your veggie fix, from home and abroadThe Food Price Report 2019 suggests that vegetable prices will go up by as much as six per cent next year. That’s significant because, unlike meat or fish, fewer alternatives exist when it comes to replacing vegetables. According to the report, recently released by Dalhousie University and the University of Guelph, El Nino will be…

Lower crude oil exports lead to jump in trade deficit

Crude oil export prices were down 15.4% in October, the strongest monthly decrease since February 2016: StatsCan

Lower crude oil exports lead to jump in trade deficitCanada’s merchandise trade deficit with the world widened from $891 million in September to $1.2 billion in October, according to Statistics Canada. The federal agency said on Thursday that the country’s exports were down 1.2 per cent in October, principally on lower exports of crude oil. Imports were down 0.6 per cent, mainly due to…

Interprovincial trade barriers are a national embarrassment

Studies suggest these constraints cost the Canadian economy up to $130 billion a year. But we can change that

Interprovincial trade barriers are a national embarrassmentBy Sen. Jane Cordy and Sen. Diane Bellemare Canada’s framework for interprovincial trade is patchy at best. While Canada has signed on to free trade agreements with countries around the world, there are significant barriers to the free flow of goods and services within our own borders. Studies have suggested that these interprovincial trade constraints…

It’s USMCA, not CUSMA or T-MEC

The U.S., Canada and Mexico signed the same trade document, but each country is calling it something different

It’s USMCA, not CUSMA or T-MECIt took a couple of years, but the United States-Mexico-Canada Agreement, or USMCA, was finally signed on Nov. 30. Or was it? Let’s go back a few steps. All three leaders – U.S. President Donald Trump, Canadian Prime Minister Justin Trudeau and Mexican President Enrique Peña Nieto (who was on his last day on the…
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