We Need a New Direction for the Economy
Canadians across the country and from all walks of life are angered about the outrageous and unprovoked 25 per cent and 10 per cent tariffs threatened by the Trump administration on goods imported into the U.S. from Canada. This attack presents Canadians with no alternative but to reassess our relations with the U.S. on a number of fronts, including political, economic and trade, as well as military, cultural and other areas.
In
regards to the economic and trade front, the main response of various
establishment politicians and pundits so far is to focus on the issue
of Canada retaliating with counter-tariffs against the U.S., which
President Trump claims will result in even worse tariffs being imposed
on Canada. And
so the escalation ramps up, where it will stop no one seems to know.
But there are other ways for Canada to respond to these outrageous and unjustified economic attacks which can chart a new direction for the Canadian economy and the country as a whole. To achieve this we need core principles to guide us. These could be as follows: (1) self-reliance; (2) diversification; (3) mutually beneficial trade; (4) democratic renewal.
Aiming for a self-reliant economy, one in which we are not under the thumb of the U.S. or any other country, is crucial for Canada. Currently 75 per cent of Canadian exports go to the U.S. which puts us in an extremely vulnerable situation. To name just one example, why not adopt policies that result in much more of our food being produced in Canadian greenhouses and by other means using our abundant electrical and energy resources?
To name another example, forestry companies that are based in BC and Canada could be given more favorable stumpage, taxation and access to timber than foreign-based companies or those globalized corporations that have their feet in both Canada and the U.S.
In addition, cooperative ventures in various affected industries involving worker ownership or cooperation between workers and business interests could be fostered.
In regards to diversification, instead of being tethered to the current 75 per cent trade with the U.S., why not dramatically expand trade with a wide range of other countries. President Trump says that he wants all auto production in North America to be centred in the U.S. no matter the effect on Canadian and Mexican workers and people. Why not develop an auto industry in Canada? Other countries make their own cars, trucks, utility vehicles and means of transportation of all kinds. Why not Canada?
While the overall aim remains more self-reliance, mutually beneficial trade arrangements can be established which would allow foreign companies to invest. Canada's resource advantage can be utilized not to pay the rich as is currently the case but to bring about more technology transfer and industrial development to favour the interests of the people.
Finally,
and fundamentally, to establish a new direction for the economy we
need democratic renewal of our political and governance processes in
order to empower the citizenry to have more control over government and
the economy. For too long, trade and economic policy has been made by
establishment politicians and big business leaders who,to their eternal
shame, have integrated the Canadian economy into the U.S. war machine
and economy.
The time is now for the people to be in control and chart the way for a self-reliant, independent country, friendly towards all, but under the thumb of no one.
This article was published in
Tuesday, February 4, 2025
Article Link:
https://cpcml.ca/ITN2025/Articles/TI55122.HTM
Website: www.cpcml.ca Email: editor@cpcml.ca