The following is excerpted from a 13 December 2012 commentary by Peter G. Hall of Export Development Canada.
Growth potential is a key strategic measure for any economy. It can be measured in a number of ways, but the most popular among analysts is the supply-side measure. That’s the technical label for assessing future growth of the labour force, the capital stock and productivity – the three key building blocks of an economy. Demand for a nation’s goods and services can also determine future potential. In an increasingly global world, are there other measures of potential that should be considered?
Cosmopolitan is a word often used to describe Canada. As a nation built to a great extent on immigration, Canada boasts a rich ethnic diversity. Census data show that by far, the largest group has its roots in Western Europe. However, a growing share – due both to recent immigration trends and higher birthrates – is accounted for by emerging economies. In 2006, this group accounted for 9.8 per cent of the population. If we only looked at those with single responses to the ethnicity question, the ratio rises to 17.4 per cent of the population, an impressive proportion.
This commentary is available in its entirety at:
http://www.edc.ca/EN/Knowledge-Centre/Subscriptions/Weekly-Commentary/Pages/hidden-goldmine.aspx
Topic(s)
International Trade and Border Management
Information source
Canadian News Channel
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