The following is excerpted from a 6 June 2013 commentary by Peter G. Hall of EDC.
May is now history, and with it another cross-Canada Let’s Talk Exports tour. I thoroughly enjoyed meeting many of you in the past few weeks, and gauging your sense of Canadian exports. What I heard was that our upbeat message was good news, and you hoped that we are right. In those statements was a pervasive sense of caution, likely reflecting the world’s three failed attempts at economic recovery. We’re not alone – the world has been excessively gloomy for five years.
More than most, Canadian exporters can be forgiven for feeling this way. When exports collapsed in 2009, many of them shifted sales inward, into what proved to be a surprisingly strong domestic economy. Now, with highly-indebted consumers reining in spending, housing activity well off peak levels and government austerity weighing further on growth, that internal market isn’t offering much these days. A revival in trade would undoubtedly lift exporters’ spirits. Is it likely?
This commentary is available in its entirety at:
http://www.edc.ca/EN/Knowledge-Centre/Subscriptions/Weekly-Commentary/Pages/homecoming-of-hope.aspx
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