Tuesday, December 8, 2009
10 things I love about Canada: part of the 10 years in Canada (Jan 1999-2009) blog series:
1. Natural beauty of the land and its deep appreciation The 2nd largest country in the world has breath-taking scenery spread across 7 time zones and nearly 10 million square kms of largely un-inhabited land. Green pastures, breath-taking mountains, red beaches and absolutely pure blue lakes (check my pictures on Facebook, Flickr or Picasa) adorn this landscape. Most Canadians truly respect this gift of Nature and spend a chunk of their time enjoying this bounty. This appreciation of Nature pervades the minds of the people, in the famous stories, the extremely popular paintings (such as those by the Group of Seven) and the marks/pictures on currency notes & coins. Even politicians routinely posture in the media on canoes, skidoos, ski gear, in Arctic gear or with fishing rods to express their love for Canada’s natural beauty.
2. The natural riches of the land It was not some brilliant economic design or the rollout of a strategic foray into a new market; rather the plentiful supply of precious & base metals, oil & gas that have save the bacon for Canada at critical points. Along with the stability of its banks, the bounty from below the earth helped Canada emerge as a top performer amongst the G8 countries through these past few tumultuous months in the world economy as Canada’s manufacturing sector got decimated, its leading new age hi-tech companies (Nortel, JDS Uniphase in my sector) went under and its legendary retail chains (Eaton, The Hudson Bay Company) floundered over the past few years. Even in the future, another natural resource (its plentiful supply of fresh water) will likely become a key source for Canadian sustenance and wealth. As the water shortage issues around the world become acute, Canada with the 2nd largest supply of fresh water in the world feels like a great place to be in.
3. The Rick Mercer show If you see my blog post on things I rail about in Canada, you will see my unhappiness about the “absence of outrage against waste and ineptitude”. Now, the only avenue where I see this addressed correctly, regularly and loudly is on the Rick Mercer show. Rick (note for non-Canadians: he is an amazing comedian on TV who has active interest in politics) in the “rant” part of his show addresses waste and ineptitude in the most humorous but direct fashion – unrivalled across any other media or forum in Canada. Besides the “rant” portion of the show, Rick does a terrific job of highlighting the numerous facets of Canada – stuff most people would be unaware of or never get exposure to – be it the working of the parliament or a small unique, festival in some remote part of Canada. Of course, in the process of Rick showing us Canada, he reconfirms that he is the most powerful and perhaps the luckiest Canadian around (he gets to fly the Canadian air force jets, play guitar with legends such as the lead guitarist of Rush, join Canadian Olympians in their practice sessions, drive police cars …) with uninhibited access to the Prime Minister, top politicians, rock legends, academic dons, sports-stars and the top civil/defence officials.
4. The CBC The unbiased coverage of Canadian Broadcast Corporation (CBC) is such a relief when I compare it to the news coverage from elsewhere (compared to the coverage in the US, Singapore and India – places I have been most exposed to). While its coverage may not be as deep as that of the BBC on Africa or Europe or Asia, the CBC truly is deep on all issues Canadian and American, strikes a great balance between Left & Right, brings forward some real honest hard-hitting programming and of late even looks very cool (great graphics, interesting angles, newer additions to the line-up of hosts). No other media even in Canada maintains as perfect a balance as the CBC (though the Globe & Mail comes close to it in the press). The objectivity was driven home especially at the start of the Iraq War when free discussions were held on CBC while the US TV had all aligned with a single point of view and was smothering any real discussion, which they later quietly regretted.
5. Almost an Enlightened Capitalist society In one of my 1st blogs ever, I talked about “Enlightened capitalism” – where there is economic freedom, results are driven by risk taking and hard work but when a person slips through the cracks, there is a helping hand. Though not yet a completely “enlightened capitalist society”, Canada comes close to it. Equidistant from the excesses of the US capitalist model (of recent years) and excessive stifled economies like France and Italy, Canada strives to strike a decent balance. A little below some of the Nordic countries on the scale of Enlightened Capitalism, Canada occupies the next berth along with Australia, Singapore and maybe the UK. And that is one of the HUGEST draws of this country for me – to see the economically disadvantaged (mostly) taken care of, absence of any ghettos, a large middle class and (mostly) equal access to public services.
6. A high concentration of very decent people Canadian media points out often how lots of Americans put Canadian flags on their back-packs when travelling through Europe. When I travel through Latin America, and tell people where I live, people immediately tell me about encounters with amazing Canadians and how well they think of the country (of course most in Europe tell me that they find India more exciting or interesting to visit and most in Latin America after griping about US policies, do let out their admiration for the US economic might). The above points of Canadian decency are random examples to validate what I experience in my daily life across Canada. Though the level of grace may vary across the regions or along rural-urban lines, largely and with a few exception (7 great experiences for every 1 bad behaviour witnessed), the folks here are very decent in the way they behave themselves publically, in the community, on the road, while using public transit or in the office.
7. Attitude to the under-privileged One of the best things I have seen in both the US and Canada is the spirit of charity built into the psyche of the majority of the common population. But as a society and Government, Canadians’ attitude to the under-privileged is heart-warming for me. I am sure in quite a few countries of Western Europe (and from all account, the Nordic countries) the same attitude prevails but its something that cannot be missed in my top 10 for it continuously impresses me. I have seen charitable and kind acts play out in parts of Asia but the demarcation between “beneficiary and benefactor” is often obvious while the kind actions are being performed – something that takes some of the dignity away from the receiver of the benefits. Out here, atleast the way I have seen it play out, the acts of kindness and charity seem very dignified and genuinely kind.
8. Prevailing attitude: Humility and self-effacing You could be sitting on a flight next to a musical giant or a top Government official or a legendary academician who is Canadian, more likely than not, you will not notice any fuss, arrogance or even feel their presence. They will more likely than not underplay their status while moving about in public. At work, you will rarely see anyone boasting about their own accomplishments or achievement (though they will be happy ;) to tell about their kid’s great hockey game from the previous night). In short, be it a famous or an ordinary Canadian, they are largely humble, quite about their successes and to a large extent self-effacing unless asked very specific questions.
9. Ability to take along a diverse set of people without imposing an explicit change There are very few countries with as much racial and “country of origin” diversity as the US, the UK and Canada. The milling of people with different backgrounds, past prejudices & preferences, deep set values always creates tensions in society. Humans by nature are not inherently tolerant of diversity. In Canada too, prejudices are prevalent and discrimination plays out at individual level, but society as a whole still pulls along in the same direction with little palpable tension being evident. Communities have grouses against each other but do not necessarily act upon them (unlike what I know happens in some parts of the UK). And this restraint at the macro level helps take along the hugely diverse set of people who live in Canada. What sets the Canadian experiment in creating a nation with hugely diverse strains of humanity apart from the US is the process of “Canadianization”. There is an “Americanization” process in play in the US – an implicit set of norms immigrants go through in a generation or two. In Canada, there is no explicit change and complete absence of the “Canadianization” process of those new to the land. I do fret about this absence but also am equally mesmerized about how Canada holds together without any explicit “naturalization” process.
10. Tim Horton’s Tim Horton’s coffee and Tim Horton, the coffee chain brings it all together for me – the essence of Canada. Unpretentious, clean and serves a great cup of no-fuss Java (one choice of beans – no choices) at a very reasonable price, the brand embodies Canadian values like very few other things – good, strong, virtuous (the company does a lot on the social front), unpretentious and classless (embraced by every strata of society). Served across the country (in almost every terrain) and even on the Canadian Force’s base in Afghanistan, it is a symbol of Canada everyone can attach to without seeming jingoistic.
5 personal stories I love telling: Part of the 10 years in Canada (Jan 1999-2009) blog series
1. You will not make it on time, so hop in
The 1st one is my own story played out in the 1st few months in the Greater Toronto Area. I was heading for a job interview to the suburbs (around Toronto). Not aware of the weak public transport links (rare taxis, poorly served bus routes) on the outskirts of Mississauga, I had planned to arrive at the local railway station and walk to what looked like (on a paper map) a quick short trip a couple of roads away from the station. As I strolled out of the station, it hit me that the roads that showed up on the maps were fenced off in reality. There was no way to get across them – rather, I had to take a detour of atleast 6-7 kms to get to my destination. By the time this occurred to me, it was 45 mins from appointment time and there was no taxi in sight. I made some calculated guesses and decided to cut through a residential community. As I hurried through the area, I stopped to re-check my bearings and chanced upon a middle aged lady in her driveway. She came over and pointed out the route to my destination and asked me the reason for my haste. Two minutes after I thanked her for the directions and took off on a quick march in my suit and tie, I heard a car approach me. Turning around, I saw the lady had got in to the car and driven over. She asked me to hop on with the words “You will never get there on time so you better get in.” I jumped in and got to my interview in good time. I walked in relaxed and was able to “crack” the interview and secure the job offer. All this was made possible by a stranger who was kind enough to realize that I had grossly underestimated my travel distance and stepped in to help. The lady didn’t want an acknowledgement for her generosity though she identified herself as “Ms Szabo”. I sent a “Thank you” card into the ether at a vague “made up” address but moreover still remain in eternal debt for this act of extreme kindness.
2. There is always space in here - so what if it’s a tiny car
The next one is a fascinating story from Halifax on the eastern seaboard of Canada. Sonika, my wife and a colleague of hers were travelling to the airport when their taxi developed engine trouble a few kms away from the airport on a quite strip of the highway. In freezing cold, Sonika and her colleague stepped out as they planned the next move – call a cab from the city or airport … They had hardly got through a couple of minutes of deliberations when they saw a small old hatchback (the size of a Mini) pull to the side. A couple was sitting infront and their whole home was on the move with lots of bags, packs etc in the tiny car. They insisted on driving Sonika and hear colleague to the airport though they were not headed in that direction. Sonika and her colleague thanked them but initially declined given that the car was tiny, packed and moreover not heading in the direction of the airport. But the couple insisted and were soon re-arranging the artefacts in the car. Along with the packs from the back seat, there emerged a baby in a bucket seat and a massive dog (Labrador). Within a couple of minutes, Sonika’s 6 foot 3 inches tall colleague was seated in front alongside the gentleman driving the car. His wife, Sonika and the little baby were fitted in the back seat and all the belongings along with the giant dog squeezed in the room behind the back seat. Of course, they got to the airport in a few minutes. The couple refused to take any money or offer their name for a card/thank you gesture and when Sonika and her colleague insisted on doing something, the couple asked them to “pass the favour along to some other stranger.” “Wow!” is all I could say on this amazing gesture of the couple with the tiny car but huge hearts.
3. Did you leave something behind?
We were living in the busy part of downtown Toronto. I paused at a newspaper vending box, took out my wallet, put the right amount in and pulled out the paper of the day. Its 6 PM on a busy work day and with paper in hand I hop across in 5 minutes to my condominium unit. I would have sat for 15 minutes when the phone rang and a police officer was on the line asking me questions to identify myself and check if I had dropped something. I looked around and had no clue. And so the officer asked me if my wallet was missing. My heart went “Thump!” I checked my coat and trouser pockets and indeed oblivious to me, I had left the wallet behind – on the newspaper vending box as the officer informed me. Again, as in the previous 2 stories, the Good Samaritan wanted to remain anonymous – apparently she had seen me leave the wallet behind (from very far), tried to catch up but could not, quickly picked it up from the newspaper vending box, handed the wallet (untouched) to the nearby police station and didn’t want to be thanked for. All this honesty and goodness in the heart of a bustling mega-city of 4 million plus.
4. Welcome to Canada and “Be warm” in this Canadian police jacket
This one should be pleasant reading for those who dread crossing borders and facing customs/immigration officials. While every return to Canada for me (by air or road) has been most welcoming and a pleasant experience (more in another blog post), this story by a friend of buddy of mine takes the cake for the welcoming attitude of the Canadian Immigration officials (if you are not doing anything wrong). My friend landed in Western Canada in Calgary from Dubai as an immigrant checking into the country for the 1st time. At most times, my friend tends to be in a general state of hyper-excitement and so in his usual vein, he was comfortably suited in shorts and tee-shirt on the flight in though it was late November. Having landed at the airport with very light luggage, my friend quickly made his way to immigration, submitted his papers to enter the country for permanent residency. A few minutes later, he was admitted into the country. As he crossed in, the immigration officer took a good look at him and ushered him into a room. “Sir, you better go in there”. A bit taken aback, my friend entered the windowless room to see a police officer behind a desk. Nervousness turned into puzzlement as the officer asked him “Do you know that you are in Calgary and the weather is freezing out there. Where is your jacket, Sir.” When my buddy clarified that he had landed ahead of his family and was carrying only his summer clothes as he was there for a week, the officer pulled out a nice warm Canadian police jacket and asked him to walk along. My friend was loaned the jacket till he was inside a warm cab and only once he was comfortably seated did the police offer take back the jacket, and waved to him “Welcome to Canada !” I have read about and chatted with people on their encounters with immigration and police officials all over the world but rarely heard a story anywhere close to this one. Have you?
5. Even a good municipal worker story
For variety, I am picking the last story – a simple one but from a very unexpected quarter – an act of kindness “beyond duty” by a municipal (or City) worker. We were returning home to Richmond Hill (Ontario, Canada) after a vacation of 2-3 weeks in peak winter. When we got home, our driveway was packed with ice (not snow) several feet high and our cars were stuck in the garage. I started chipping at it with my ice removing machine, shovel and axe but the progress was extremely slow. It was very clear that I would have to keep going for a couple of days before I could get through the pile-up. But we could not see a quick solution. Then, all of a sudden, we spied a little construction machine with a loader making its way towards us. A City (or municipal) worker had seen our predicament in the quiet corner of our neighbourhood and was hurrying over to help us. Within minutes, he had cleared the snow off our driveway, refused to accept anything more than our heart-felt thanks and was back to his work. Typically, I expect a City worker (in any other country) to be bummed with life, reluctant to even do his job, let alone do an unpaid for, beyond duty work. But, hey this was Canada and you never know where the next act of kindness may come from.
Wednesday, November 25, 2009
Canada – then and now – in numbers (10 data sets) as part of the 10 years in Canada (Jan 1999-2009) series
On Jan 19, 2009 we completed 10 years in
So, in a series to mark the 10th anniversary of our coming over (Jan 19, 2009), I will post 4 or 5 blogs starting with this one. In these, I will dwell on the aspects I am most passionate about our life here in
I have picked 10 sets of statistics about
1. The key economic stats were stable over the 10 years
Parameter/Dimension | 1999 | 2009 |
Inflation for previous year | 0.99 | 2.37 |
Unemployment | 7.6% (Jan) | 7.2% (Jan) |
When we landed in Jan 1999, people here were talking about how they had got through some tough economic times in
2.
Parameter/Dimension | 1999 | 2009 |
GDP (In PPP terms) per Capita (in USD) – World Bank figures | $ 27,051 | $ 36,444– world rank: 12 |
| 30,499, 200 | 33,487,208 |
3. Canada looked good compared to most of its other peers in the OECD
An open economy (no manipulation of currency and subject to international financial scrutiny), hugely dependent on the US for its exports, supported by a rather small population of relatively relaxed people with almost a European model of social welfare system and a huge Government STILL managed to hold its own and look good compared to its peers in the OECD over the decade (1999-2009) as these two tables below show.
|
| ||||||||||||||||
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 |
| |||
| 3.6 | 3.6 | 2.3 | 2.1 | 3.4 | 3.1 | 2.5 | 2.7 | 2.7 | 2.5 | 2.3 | 1.5 | 1.5 |
| |||
| 1.0 | -0.2 | -0.5 | 1.9 | 1.4 | 1.1 | 1.7 | 0.9 | 0.3 | 1.0 | 0.4 | -0.2 | -0.1 |
| |||
| 6.9 | 5.9 | 5.3 | 5.6 | 5.0 | 4.0 | 4.0 | 3.6 | 3.5 | 2.8 | 2.6 | 3.0 | 3.0 |
| |||
| 5.3 | 5.5 | 5.2 | 3.0 | 2.1 | 1.7 | 2.4 | 2.5 | 1.8 | 1.6 | 0.7 | 0.3 | 0.1 |
| |||
| .. | -3.9 | -5.0 | -4.1 | -4.0 | -4.4 | -1.7 | -2.4 | -2.9 | -2.0 | -1.9 | -1.3 | -0.8 |
| |||
| 2.5 | 3.5 | 3.4 | 2.2 | 1.8 | 2.2 | 3.7 | 6.2 | 4.9 | 3.8 | 1.8 | 0.3 | 0.0 |
| |||
| 2.9 | 2.8 | 6.7 | 4.8 | 4.0 | 2.7 | 2.3 | 2.7 | 3.2 | 4.0 | 3.4 | 3.1 | 2.9 |
| |||
| 0.8 | 1.1 | 0.3 | 0.3 | -0.9 | -1.6 | -1.0 | -1.0 | -0.2 | -0.6 | -0.6 | -0.4 | -0.1 |
| |||
| 0.8 | 1.1 | 0.8 | -0.8 | -1.2 | -0.7 | -0.4 | 0.2 | 1.1 | 2.1 | 1.9 | 2.0 | 2.2 |
| |||
| 4.1 | 5.0 | 2.6 | 2.0 | 1.1 | -0.8 | -2.1 | -1.1 | -0.5 | -0.7 | 0.1 | 1.4 | 2.1 |
| |||
| -0.3 | 1.0 | 1.8 | 0.1 | -3.9 | -3.9 | -3.9 | -5.5 | -7.1 | -1.6 | 0.5 | 1.6 | 2.8 |
| |||
| 0.0 | 1.4 | 1.9 | -0.6 | -2.2 | -1.7 | -0.4 | 2.9 | 4.4 | 3.8 | 2.9 | 1.3 | 1.5 |
| |||
| 3.8 | 4.3 | 3.9 | 0.0 | -1.2 | 0.1 | 1.3 | 1.3 | 2.2 | -0.4 | -4.6 | -3.7 | -3.2 |
| |||
| 5.3 | 5.3 | 4.1 | 2.7 | 2.5 | 0.6 | 0.7 | 0.4 | 2.1 | 3.1 | 2.6 | 3.4 | 3.7 |
| |||
| -4.1 | -5.4 | -5.5 | -4.9 | -5.9 | -5.5 | -5.7 | -4.5 | -3.0 | -2.4 | -1.9 | -2.1 | -1.4 |
| |||
| 3.5 | 2.6 | 3.6 | 2.3 | 0.5 | 0.0 | -1.0 | -0.2 | 0.7 | 2.0 | 1.2 | 0.9 | 1.2 |
| |||
| 2.4 | 2.8 | 2.5 | 0.7 | -0.7 | -0.5 | 1.0 | 2.4 | 2.6 | 1.8 | 2.0 | 1.6 | 1.5 |
| |||
| 1.5 | 0.5 | 2.3 | 2.4 | 3.4 | 3.5 | 3.1 | 3.3 | 2.7 | 2.2 | 1.8 | -0.2 | -0.9 |
| |||
Norway1 | -7.3 | -7.4 | -10.9 | -11.1 | -11.7 | -13.6 | -12.9 | -13.4 | -13.4 | -11.9 | -13.3 | -13.0 | -13.2 |
| |||
| -0.5 | -0.3 | -0.9 | -1.7 | -1.9 | -2.6 | -3.6 | -2.5 | -2.6 | -1.6 | -1.9 | -1.5 | -1.4 |
| |||
| -0.2 | -0.6 | -1.5 | -2.7 | -2.4 | -2.4 | -2.0 | -2.3 | 0.0 | 1.6 | 1.2 | 1.0 | 1.1 |
| |||
| 1.7 | 2.0 | 1.6 | 1.5 | 1.8 | 1.8 | 2.0 | 2.4 | 3.1 | 3.3 | 1.0 | 0.6 | 0.8 |
| |||
| 1.8 | 1.9 | 3.1 | 1.6 | -0.6 | -0.6 | 0.7 | 2.1 | 1.4 | 2.5 | 2.6 | 1.5 | 1.5 |
| |||
| -0.7 | 0.1 | 1.7 | 0.6 | 0.3 | -0.1 | -0.3 | 0.4 | 1.5 | 1.6 | 1.5 | 1.4 | 1.3 |
| |||
| 2.9 | 3.1 | 3.1 | 2.3 | -0.4 | -2.0 | -2.2 | -1.6 | -0.8 | -1.1 | -1.8 | -2.6 | -3.3 |
| |||
| 3.4 | 3.1 | 3.4 | 1.5 | -1.6 | -2.6 | -2.5 | -1.5 | -0.7 | -1.0 | -3.1 | -3.3 | -3.0 |
| |||
Euro area | 2.0 | 2.2 | 1.6 | 0.9 | 0.4 | 0.0 | 0.2 | 0.4 | 1.2 | 1.6 | 1.3 | 1.5 | 1.6 |
| |||
Total OECD | 1.8 | 1.6 | 1.5 | 0.4 | -1.3 | -1.9 | -1.8 | -1.1 | -0.3 | -0.2 | -1.2 | -1.3 | -1.1 |
| |||
Note: Adjusted for the cycle and for one-offs and excludes the impact of net interest payments on the underlying balance. | |||||||||||||||||
1. As a percentage of mainland potential GDP. The financial balances shown are adjusted to exclude net revenues from petroleum activities. | |||||||||||||||||
Source: OECD Economic Outlook 84 database. |
| ||||||||||||||||
General government gross financial liabilities (% of nominal GDP) | ||||||||||||||
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | |
| 32.3 | 28.0 | 25.0 | 22.2 | 20.1 | 18.8 | 17.0 | 16.7 | 16.1 | 15.4 | 14.2 | 13.4 | 13.3 | |
| 68.4 | 71.2 | 71.0 | 72.0 | 73.2 | 71.3 | 70.8 | 70.3 | 65.9 | 61.9 | 62.6 | 64.8 | 67.7 | |
Belgium1 | 122.9 | 119.5 | 113.5 | 111.8 | 108.3 | 103.5 | 98.6 | 95.7 | 91.2 | 87.6 | 92.2 | 92.3 | 92.1 | |
| 95.2 | 91.4 | 82.1 | 82.7 | 80.6 | 76.6 | 72.6 | 71.1 | 68.0 | 64.1 | 63.0 | 65.6 | 66.9 | |
| .. | .. | .. | .. | 33.1 | 34.9 | 34.7 | 34.9 | 34.7 | 38.4 | 36.1 | 35.1 | 34.8 | |
| 69.7 | 64.1 | 57.1 | 55.0 | 55.4 | 53.6 | 50.1 | 42.3 | 37.4 | 31.0 | 28.4 | 28.5 | 29.5 | |
| 60.9 | 54.7 | 52.4 | 49.8 | 49.5 | 51.3 | 51.4 | 48.4 | 44.8 | 41.5 | 39.6 | 38.8 | 39.2 | |
| 70.7 | 67.1 | 65.9 | 64.4 | 67.4 | 71.5 | 74.1 | 76.0 | 71.5 | 70.1 | 72.5 | 75.9 | 79.0 | |
Germany2 | 62.2 | 61.5 | 60.4 | 59.7 | 62.1 | 65.3 | 68.7 | 71.1 | 69.4 | 65.5 | 64.8 | 66.3 | 66.3 | |
| 97.6 | 101.1 | 114.9 | 117.9 | 116.3 | 112.5 | 114.4 | 112.3 | 105.8 | 102.3 | 100.8 | 99.8 | 99.1 | |
| 64.9 | 66.2 | 60.1 | 59.7 | 61.0 | 61.4 | 65.3 | 68.7 | 71.9 | 72.0 | 71.8 | 73.6 | 75.3 | |
| 47.9 | 43.4 | 41.0 | 45.9 | 42.1 | 40.8 | 34.5 | 25.4 | 30.1 | 24.0 | 24.8 | 122.4 | 126.7 | |
| 62.2 | 51.3 | 40.1 | 37.4 | 35.2 | 34.1 | 32.7 | 32.6 | 28.8 | 27.9 | 32.8 | 40.9 | 48.4 | |
| 132.6 | 126.4 | 121.6 | 120.8 | 119.4 | 116.8 | 117.3 | 119.9 | 117.1 | 113.2 | 113.0 | 114.4 | 115.9 | |
Japan3 | 113.2 | 127.0 | 135.4 | 143.7 | 152.3 | 158.0 | 165.5 | 175.3 | 171.9 | 170.6 | 173.0 | 174.1 | 177.0 | |
| 13.1 | 15.6 | 16.3 | 17.4 | 16.6 | 18.4 | 22.6 | 24.7 | 27.6 | 28.9 | 32.6 | 31.5 | 33.3 | |
| 11.1 | 10.0 | 9.3 | 8.2 | 8.5 | 7.9 | 8.5 | 7.6 | 10.4 | 9.9 | 18.1 | 17.3 | 20.2 | |
| 80.8 | 71.6 | 63.9 | 59.4 | 60.3 | 61.4 | 61.9 | 60.5 | 54.2 | 51.7 | 54.5 | 54.2 | 54.7 | |
| 42.2 | 39.6 | 37.4 | 35.4 | 33.5 | 31.4 | 28.6 | 27.5 | 27.1 | 25.3 | 25.3 | 28.4 | 32.8 | |
| 30.8 | 30.8 | 34.0 | 32.9 | 40.5 | 49.3 | 52.7 | 49.1 | 60.9 | 57.9 | 45.4 | 52.7 | 57.4 | |
| 43.8 | 46.6 | 45.4 | 43.8 | 55.0 | 55.3 | 54.6 | 56.4 | 55.9 | 52.5 | 52.8 | 54.0 | 55.5 | |
| 65.2 | 62.0 | 61.1 | 62.6 | 66.1 | 67.2 | 69.5 | 73.0 | 72.0 | 70.1 | 70.9 | 72.9 | 75.1 | |
| 41.2 | 53.5 | 57.6 | 57.2 | 50.3 | 48.3 | 47.3 | 38.7 | 34.7 | 36.5 | 38.0 | 39.0 | 40.0 | |
| 75.3 | 69.4 | 66.5 | 61.9 | 60.2 | 55.3 | 53.4 | 50.8 | 46.6 | 42.7 | 44.2 | 47.7 | 51.8 | |
| 82.5 | 73.7 | 64.7 | 63.4 | 60.5 | 59.8 | 59.5 | 59.7 | 52.5 | 47.0 | 44.6 | 41.3 | 40.5 | |
| 54.9 | 51.9 | 52.5 | 51.3 | 57.2 | 57.0 | 57.9 | 56.5 | 50.6 | 48.6 | 48.1 | 47.5 | 47.3 | |
| 52.5 | 47.4 | 45.1 | 40.4 | 40.8 | 41.2 | 43.5 | 46.1 | 46.0 | 46.9 | 58.7 | 63.6 | 69.4 | |
| 64.5 | 61.0 | 55.2 | 55.2 | 57.6 | 60.9 | 61.9 | 62.3 | 61.7 | 62.9 | 73.2 | 78.1 | 82.5 | |
Euro area | 80.3 | 78.5 | 75.3 | 73.9 | 74.2 | 75.1 | 75.9 | 77.0 | 74.7 | 71.4 | 70.7 | 73.2 | 74.7 |
Total OECD | 72.9 | 72.2 | 69.5 | 69.8 | 71.7 | 74.0 | 75.6 | 77.4 | 76.0 | 75.0 | 79.7 | 82.8 | 85.8 |
Note: Gross debt data are not always comparable across countries due to different definitions or treatment of debt components. Notably, they include the funded portion of government employee pension liabilities for some OECD countries, including | |||||||||||||
1. Includes the debt of the Belgium National Railways Company (SNCB) from 2005 onwards. |
| ||||||||||||
2. Includes the debt of the Inherited Debt Fund from 1995 onwards. |
| ||||||||||||
3. Includes the debt of the Japan Railway Settlement Corporation and the National Forest Special Account from 1998 onwards. |
| ||||||||||||
Source: OECD Economic Outlook 84 database. |
|
4. The markets recognized these general improved conditions
Parameter/Dimension | 1999 | 2009 |
On Jan 19, 1 | 1.53 CAD | 1.24 CAD |
S&P/TSX Composite index | 6800 | 8842 |
When we came to
5. BUT .. the story on labour productivity was not encouraging …
Labour Productivity Index: 1999-2008 (2002=100) Canadian Economy - Business and Non-business Sectors | |||||
NAICS
Code | Sector | Productivity Index | CAGR*
1999-2008 | % Change
2007-2008 | |
1999 | 2008 | ||||
*Compound Annual Growth Rate (Source: Statistics | |||||
11-91 | Canadian Economy | 90.7 | 115.0 | 2.4% | 0.5% |
In an era of huge computerization worldwide, shift towards a service economy and strong growth in prices and demand of “Canadian stuff (oil, gas and metals), between 1999 and 2008 labour productivity in the Canadian economy increased just 2.4% per year on average, which when compared to many fast growth countries was dismal (but perhaps the employees/workers became even more chilled and relaxed in this period J).
6. … and the economic competitiveness of the country is rather mixed
Beyond labour productivity, other factors too show signs of weakness, a fact reflected in the table below – where despite signigficant progress in
Parameter/Dimension | 1999 | 2009 |
Measure of competitiveness: “set of institutions, policies, and factors that determine the level of productivity of a country.” Uses 12 pillars for measurement across Infrastructure, Education, size of market, financial access etc. | World Rank = 3 (using 2001 ranking as a proxy as this was the most reliable figure I got publically) | World Rank = 9 |
Index of Economic Freedom – source: Heritage Freedom and Wall Street Journal Measures 10 dimensions of freedom: Business, Trade, Fiscal, Govt Size, Monetary, Investment, Financial, Property Rights, Freedom From Corruption, Labour | World Rank = 25 | World Rank = 7 (Score = 80.5) versus #1 – HK with score of 90) |
7. Interestingly, services producing part of economy grew faster than goods producing despite the media pre-occupation on Canadian autos, oil, gas and metals industries
Other than construction, all good producing components of the economy grew 1% or less over the period 1999-2008 while every component of the services sector grew at 1.5 % or more. This set of stats did surprise me given the media pre-occupation with oil, gas, metals and the auto/manufacturing story.
Gross Domestic Product (GDP) by Industry Sector: 1999-2008 Canadian Economy (NAICS 11-91) | ||||||
NAICS
Code | Sector | GDP* (millions of chained 2002 dollars) | CAGR**
1999-2008 | % Change
2007-2008 |
| |
1999 | 2008 |
| ||||
*GDP is expressed in chained 2002 dollars in order to maintain accurate growth rates. Chained levels are non-additive, therefore sector values will not add up to the value for the Canadian economy. **Compound annual growth rate. ***GDP values for these three sectors are combined. Source: Statistics |
| |||||
11 | 26,193 | 25,965 | -0.1% | -1.9% |
| |
21 | 50,000 | 55,311 | 1.0% | -3.5% |
| |
22 | 28,982 | 31,143 | 0.7% | -0.6% |
| |
23 | 49,053 | 74,570 | 4.3% | 2.3% |
| |
31-33 | 171,923 | 175,617 | 0.2% | -5.2% |
| |
Goods Producing Industries (NAICS 11-33) | 326,151 | 362,606 | 1.1% | -2.9% |
| |
|
| |||||
41 | 49,396 | 70,360 | 3.6% | 0.1% |
| |
44-45 | 49,437 | 74,556 | 4.2% | 3.0% |
| |
48-49 | 46,603 | 56,755 | 2.0% | 0.2% |
| |
51 | 31,617 | 45,118 | 3.6% | 1.7% |
| |
52, 53, 55*** | Finance and Insurance, Real Estate and Leasing and Management of Companies and Enterprises | 181,851 | 247,017 | 3.1% | 2.7% |
|
54 | 41,845 | 58,515 | 3.4% | 1.1% |
| |
56 | Administrative and Support, Waste Management and Remediation Services | 20,934 | 31,106 | 4.0% | 0.5% |
|
61 | 50,162 | 60,525 | 1.9% | 2.8% |
| |
62 | 63,754 | 79,262 | 2.2% | 2.9% |
| |
71 | 9,333 | 11,728 | 2.3% | 0.1% |
| |
72 | 23,804 | 27,753 | 1.5% | 2.2% |
| |
81 | 23,335 | 32,520 | 3.4% | 3.1% |
| |
91 | 56,674 | 69,438 | 2.1% | 2.9% |
| |
Services-Producing Industries (NAICS 41-91) | 648,745 | 864,653 | 2.9% | 2.1% |
|
8. Trade winds shifted gradually over the decade though the
In 2008 a trend of diversification in
Top Export Destinations: 1999-2008 Canadian Economy (NAICS 11-91) | ||||||||||||
2008 Rank | Country | 2008 Value in $ billions | CAGR* 1999-2008 | % Change 2007-2008 | % of 2008 Total Exports | |||||||
*Compound annual growth rate. Source: Statistics |
| |||||||||||
1 | | 375.5 | 2.0% | 5.5% | 77.7% | | | | | | |
|
2 | | 13.1 | 10.5% | 2.0% | 2.7% |
| ||||||
3 | | 11.1 | 2.6% | 20.3% | 2.3% |
| ||||||
4 | | 10.5 | 14.7% | 10.1% | 2.2% |
| ||||||
5 | | 5.8 | 13.7% | 17.9% | 1.2% |
| ||||||
6 | | 4.5 | 6.4% | 15.3% | 0.9% |
| ||||||
7 | | 3.8 | 6.7% | 27.5% | 0.8% |
| ||||||
8 | | 3.7 | 9.0% | -8.5% | 0.8% |
| ||||||
9 | | 3.4 | 6.1% | 14.7% | 0.7% |
| ||||||
10 | | 3.2 | 5.5% | 3.6% | 0.7% |
| ||||||
|
| |||||||||||
| Top Ten | 434.6 | 2.6% | 6.2% | 89.9% |
| ||||||
| Other Countries | 48.9 | 9.4% | 18.6% | 10.1% |
| ||||||
|
| |||||||||||
| All Countries | 483.6 | 3.1% | 7.3% | 100.0% |
|
9. On social measures,
While one can be concerned about aspects of the economic parameters, on the social front,
Parameter/Dimension | 1999 | 2009 |
Methodology of measure: 3 dimensions of measures: · Life expectancy at birth, as an index of population health and longevity · Knowledge and education, as measured by the adult literacy rate and the combined primary, secondary, and tertiary gross enrollment ratio · Standard of living, as measured by the natural logarithm of GDP per capita at PPP | 1 (score of 0.932) | 3 (score of 0.967) |
Global Peace Index ranking (1st measured in 2007) – lower score is a better score. Methodology of measure: 23 indicators of the existence or absence of peace, which are divided into three broad categories: measures of ongoing domestic and international conflict, measures of safety and security in society and measures of militarization. | Rank: 8 (1.481) in 2007 | Rank - 8 (score - 1.311) |
Corruption Perception Index (Least corrupt country ranking) (Source: Transparency International) Measures the perceived levels of public sector corruption in 180 countries and territories. A composite index, the CPI is based on 13 different expert and business surveys. | 6 | 9 |
10. The changing complexion of
Ever since