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  • How to make NAFTA sustainable, equitable July 19, 2017
    Global Affairs Canada is consulting Canadians on their priorities for, and concerns about, the planned renegotiation of the North American Free Trade Agreement (NAFTA). In CCPA’s submission to this process, Scott Sinclair, Stuart Trew and Hadrian Mertins-Kirkwood point out how NAFTA has failed to live up to its promise with respect to job and productivity […]
    Canadian Centre for Policy Alternatives
  • What’s next for BC? July 4, 2017
    Five weeks ago the CCPA-BC began a letter to our supporters with this statement: “What an interesting and exciting moment in BC politics! For a bunch of policy nerds like us at the CCPA, it doesn’t get much better than this.” At the time, we were writing about the just-announced agreement between the BC NDP […]
    Canadian Centre for Policy Alternatives
  • Could skyrocketing private sector debt spell economic crisis? June 21, 2017
    Our latest report finds that Canada is racking up private sector debt faster than any other advanced economy in the world, putting the country at risk of serious economic consequences. The report, Addicted to Debt, reveals that Canada has added $1 trillion in private sector debt over the past five years, with the corporate sector […]
    Canadian Centre for Policy Alternatives
  • The energy industry’s insatiable thirst for water threatens First Nations’ treaty-protected rights June 21, 2017
    Our latest report looks at the growing concerns that First Nations in British Columbia have with the fossil fuel industry’s increasing need for large volumes of water for natural gas fracking operations. Titled Fracking, First Nations and Water: Respecting Indigenous rights and better protecting our shared resources, it describes what steps should be taken to […]
    Canadian Centre for Policy Alternatives
  • Betting on Bitumen: Alberta's energy policies from Lougheed to Klein June 8, 2017
    The role of government in Alberta, both involvement and funding, has been critical in ensuring that more than narrow corporate interests were served in the development of the province’s bitumen resources.  A new report contrasts the approaches taken by two former premiers during the industry’s early development and rapid expansion periods.  The Lougheed government invested […]
    Canadian Centre for Policy Alternatives
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The Progressive Economics Forum

The IMF and the Canadian Manufacturing Crisis

A background study for the latest IMF report on Canada (see pages 42 to 51) adds further weight to the argument that the rise in the exchange rate of the Canadian dollar, driven in large part by high commodity prices, has underpinned a sharp decline in the US market share of Canadian manufacturers since 2000 and a major shift in the composition of Canadian exports from manufactured goods to energy and minerals.  This report notes that China has taken market share in the US at the expense of Canadian manufacturers without underlining the fact that China’s currency is closely linked to the US dollar ie. the high Canadian dollar puts our manufacturers at a disadvantage compared to both US domestic producers and China based exporters to the US.

Add this to the list of authoritative references which refute the view of Harper et al and the Macdonald-Laurier Institute that the manufacturing crisis has nothing to do with resource dependency and the exchange rate.

Enjoy and share:

Comments

Comment from Paul Tulloch
Time: February 15, 2013, 2:04 pm

A very thorough assessment. The report on manufacturing and exchange rate is the deepest and it must be labelled, most unbiased report than I have seen on the subject. Great technical skills by the researchers.

Comment from Jesse Prasad
Time: April 8, 2014, 10:20 am

hi guys im currently in the process of filming a documentary that touches upon Canadian manufacturing and how it is becoming destroyed by globalization.
If you are in the Toronto region and wish to participate in the documentary please msg me for details. We are currently filming a documentary, depicting the the social and economic impact of factories shutting down. The documentary will take a close look at how globalization creates wealth for developing nations but destroys the lives and people of the local market.
The documentary will also serve as a learning tool for people who care to know about the decisions made in the boardroom as to whether they should down a factory or not.

Will you be willing to participate in the documentary by discussing your take on factory closures?
We would like your expert insight that will give viewer’s a better understanding.

Here is a link to our trailer and part 1
http://youtu.be/cCitKZwROCs

http://youtu.be/qhQC5iV9XKo

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