Business As Usual
The federal government is under fire - what else is new? - by the opposition parties, ostensibly for not becoming horribly vocal in blaming the Obama administration for its new round of U.S. stimulus spending which appears to emphasize "buy America", to the exclusion of foreign interests, despite the fine points and accountability of free trade agreements.
Last week's announcement by President Barack Obama outlining $450-billion worth of stimulation proposals to kick-start the faltering American economy and ignite some movement in the calcified job market took the attention of outside interests. Particularly that $140-billion portion meant for infrastructure and public works projects. And the "buy American" provisions written into them.
We've been that route before. And often. And particularly so latterly, with an earlier version of the original stimulus package which brought great angst and anger to Canada as being unfair. Given not only the provision of NAFTA, but the traditional openness as a result of NAFTA, as well as the integration in so many ways of Canadian and American production.
Special dispensation to a degree was meted out to Canada on that occasion. It likely will not happen this time around. The United States, Canada's largest historical, current (and future) trading partner is truly in desperate economic straits. And let's be sensible, an American financial system that is so vitally impaired does no favours to Canada.
Our economies are inextricably linked; when the American system is in full flush of good health, we benefit. Our products are purchased, our services are sought, we share, resourcefully, in the good times. Our economies have become symbiotic to a good degree. So, in fact, Canada should be content to allow the U.S. to go at it in the hopes that recovery will be swift.
It is that eventual recovery that will benefit our mutual trade pact far more than the whimpering about being left out of a temporary infrastructure impetus where America is hoping to turn their economic fortunes back to normal on the dial of business as usual.
Last week's announcement by President Barack Obama outlining $450-billion worth of stimulation proposals to kick-start the faltering American economy and ignite some movement in the calcified job market took the attention of outside interests. Particularly that $140-billion portion meant for infrastructure and public works projects. And the "buy American" provisions written into them.
We've been that route before. And often. And particularly so latterly, with an earlier version of the original stimulus package which brought great angst and anger to Canada as being unfair. Given not only the provision of NAFTA, but the traditional openness as a result of NAFTA, as well as the integration in so many ways of Canadian and American production.
Special dispensation to a degree was meted out to Canada on that occasion. It likely will not happen this time around. The United States, Canada's largest historical, current (and future) trading partner is truly in desperate economic straits. And let's be sensible, an American financial system that is so vitally impaired does no favours to Canada.
Our economies are inextricably linked; when the American system is in full flush of good health, we benefit. Our products are purchased, our services are sought, we share, resourcefully, in the good times. Our economies have become symbiotic to a good degree. So, in fact, Canada should be content to allow the U.S. to go at it in the hopes that recovery will be swift.
It is that eventual recovery that will benefit our mutual trade pact far more than the whimpering about being left out of a temporary infrastructure impetus where America is hoping to turn their economic fortunes back to normal on the dial of business as usual.
Labels: Canada/US Relations, Economy, Government of Canada, Politics of Convenience
posted by Pieface | 7:04 PM
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