As the new Liberal Government takes over the reins of power from the Harper government it will be interesting to see what has and hasn’t changed in Canada’s approach to international trade policy. The early signs, for those concerned with how new trade and investment agreements impact policy making in the public interest, are cause for concern.
Economists have a strong predisposition towards trade liberalization, which is held to increase efficiency and boost productivity through greater specialization in those sectors in which we hold a comparative advantage.
But the new Trans-Pacific Partnership (TPP) is likely to be damaging to our future prosperity by reinforcing our over reliance upon low value-added exports of raw and semi-processed resources, and by further increasing our chronic deficit in the trade of sophisticated manufactured goods and advanced services.
Posted by Ryan Meili and Sarah Giles · October 16, 2015 1:17 PM
Picture this: a patient returns to the office for a follow-up visit with their physician. When asked how the prescribed treatment is working out, they answer: “I don’t know, I couldn’t afford to fill the prescription.”