Wednesday, October 22, 2008
The "third option" refrain...again
In the news recently is a renewed call for a trade pact between Canada and Europe. See Canada and Europe ponder trade pact. When will Canadians dispense with nationalistic pretenses and whole-heartedly embrace the good fortune of being America's primary trading partner? Fears about having all your eggs in one basket are misplaced. While the glorious effects of globalization have lifted the economic clout of Europe and the Far East, America remains a powerful and dynamic market. Canadians would be better served to work toward an improved North American trade framework, freeing up labour mobility and capital constraints. Yes, there are expanding markets abroad, but unfettered trade will gravitate Canada toward trade among partners in this hemisphere. Better that Canada work with the U.S. to improve the economic vitality of Latin America than to play politics with Europe and China. There is tremendous potential that can be unleashed here in the Americas.