Canada's GDP growth to top G7 in 2010

Canada's economy should grow faster than western Europe, Japan and the United States, according to a new forecast by the Quebec-based Desjardins Group released Monday. That is because the country's domestic economy is in better shape than almost any other western industrialized nation, said economists. "Its strong economy makes Canada a special case," said the report.

The financial institution now figures Canada's gross domestic product (GDP) could grow by three per cent in 2010.

If correct, the country's economic expansion would surpass the American growth rate of 2.7 per cent for the current year and outpace the overall average of countries using the euro by nearly two full percentage points.

The Bank of Montreal recently raised its forecast of first-quarter Canadian GDP growth of 4.7 per cent, up from its earlier prediction of the same period.

And the Royal Bank of Canada produced a March forecast that pegged the country's economic expansion at 3.1 per cent for 2010.

Link

If you ask any American, you'd think the entire universe was going to implode because their economy is in the crapper, but luckily reality has a different take on the matter! Our economy is based upon raw resources and farm crops, if America doesn't buy them, someone else surely will!

Queue condescending American rhetoric lol

I am not sure what the Neener-Neener-Neener You Americans thing has to do with this.

No it is not. Some people in another thread were bashing canadians. So he wrote it to show them that canada can actually be a huge superpower in the future.

I'm proud of Canada. I'm an American so I don't exactly know the Canadian economics, but what do you Canadians think is the reason for your growth? Maybe America should become more like you, I could only hope for that!

Originally posted by Maddogkull
No it is not. Some people in another thread were bashing canadians. So he wrote it to show them that canada can actually be a huge superpower in the future.

Exactly!

If you even hint that not every country on the planet will systematically collapse because the American economy is doing poorly, you immediately get Americans taking shots at your country, especially Canada. Saying that when America goes, Canada and world goes, and this simply isn't true.

My point is that the world doesn't revolve around America, as much as they would love to believe it does.

Go Canada.

We kick butt!

I think the reason for growth is our banking system is much better regulated and so are the consumer protection laws.

Corporations have a hard time trying to actively screw Canadians into anything.

If we had 100 million more in population, we probably would be the world super power in 5 to 10 years.

A peacefull one at that.

~Keeper

Originally posted by Misoir
I'm proud of Canada. I'm an American so I don't exactly know the Canadian economics, but what do you Canadians think is the reason for your growth? Maybe America should become more like you, I could only hope for that!

Thank you, I know all of you aren't the same.. but lately it seems to be the general consensus.

We have a lot of natural resources for one, like hydroelectric power, oil, forestry and gas. Farming and agriculture is also a big part along with our social democratic government, meaning we pay big taxes but that money goes back into the economy and to the people.

reply to post by ZombieOctopus


Yeah we ran a surplus for like a decade didn't we?

Peopel give socialism a lot of crap, but Canada is perhaps one of the best example of how a Social Democracy can function smoothly and succeed.

~Keeper

reply to post by ZombieOctopus


People give me alot of crap for being a Socialist. I know your two main parties are Liberal and Conservative. And your only large Socialist Party is the New Democratic Party and Bloc Qebecios, so that would mean your liberal party is atleast social democratic correct?

I've always considered moving to Canada or the Nordics. I like the prairies even though it gets really freaking cold!

reply to post by Misoir


As we are classified as a Social Democracy, every aspect of our politics whether Liberal Or Conservative is somewhat Socialist.

I would highly suggest you do move to Canada, we have a great immigration policy and if you don't like the cold, move to BC.

They pick fruit in April lol. Just don't move to the Maritimes if you aren't build for -40C weather 7 months out of the year lol.

~Keeper

Being from Seattle I'm practically Canadian, eh. So I say GO CANADA!!

But seriously, Canada is as much a part of the international economy as any country and they are ruled by the same international banks so they - I mean we - are headed down the exact same path as the US.

Look at South America that's where we're going to be in 10 - 20 years.

reply to post by tothetenthpower


Un true. Maritimes are amazing. Its def. not -40 there. -12 to minus 18 maybe, but not -40, thats like Yukon. A LOT of snow though

Originally posted by Misoir
reply to post by ZombieOctopus

 

People give me alot of crap for being a Socialist. I know your two main parties are Liberal and Conservative. And your only large Socialist Party is the New Democratic Party and Bloc Qebecios, so that would mean your liberal party is atleast social democratic correct?

I've always considered moving to Canada or the Nordics. I like the prairies even though it gets really freaking cold!

Well technically they're all social democratic, it just depends how pink you want to go. The main differences between them is how much money they spend on social programs and our foreign policies.

The Conservatives are like socialist-neocons, they think Canada should be standing with America no matter what in things like Iraq, etc, and that while we should keep our existing social programs, we should try any stay status quo.

The NDP are more nationalist, they think we should be the humanitarians of the world and give up most/all offensive military actions and concentrate spending on social programs domestically.

Liberals are right in the middle.

Bloc Quebecois are like the NDP but fight a lot for French rights, etc.

Coming from an American I think a lot of our jumping on you for even hinting we dont rock like we think we do has to do with whats going on. It's like were getting attacked from everywhere, it feels like everyone is talking bad about us and hating us. We feel like we try and do so much good around the world and it's either not making a difference, goes unnoticed, or isn't wanted. So, even though were fighting with each other right now when someone comes out and says anything about us we immediately band together and become this front and fight back.

It's the whole asteroid scenario. All the fighting in the world would stop if one was hurtling towards us cause we'd have to work together to save everyone. We band together in that aspect and aren't going to let anybody say anything bad about us or imply that were not as good as we think we are.

reply to post by Maddogkull


I've lived in New Brunswick all my life friend lol.

With windchill

~Keeper

reply to post by ZombieOctopus


So basically your Conservative Party is like this...

'we will vote against any new social programs but once they're enacted we will fight to keep them'

Am I correct?

As for your NDP I looked at their platform and that is me 100%. I am not very nationalist for America but a country such as Canada with social justice I would be a nationalist.

Originally posted by Idiot232
Being from Seattle I'm practically Canadian, eh. So I say GO CANADA!!

But seriously, Canada is as much a part of the international economy as any country and they are ruled by the same international banks so they - I mean we - are headed down the exact same path as the US.

Look at South America that's where we're going to be in 10 - 20 years.

America really is the international banking system, thats the difference. Yeah we have money in there, but nothing like America. I'm not saying an economic collapse of America wouldn't detriment every economy on Earth, but I dispute the claim that it would destroy us all and plunge the world into anarchy. We'd find new trading partners for our raw materials, energy and goods and with some time we'd recover just fine.

The fact that our economy is doing so well now shows that the international community is interested in investing with Canada's future. As time goes on I'm sure more and more of our economy will take place overseas to compensate for a decline in American interest. I don't see how anyone can argue that we would sit on our hands and wait for the end, but they do all the time.

reply to post by tothetenthpower


Well wind-chill is a whole other story I meant without. I have never even seen -40 on the weather channel ( Without wind-chill), except for the most northern towns on Canada. BTW what part of New Brunswick are you located in if you don’t mind me asking. I lived there for about a year and a half a few years ago lol

Originally posted by Misoir
reply to post by ZombieOctopus

 

So basically your Conservative Party is like this...

'we will vote against any new social programs but once they're enacted we will fight to keep them'

Am I correct?

As for your NDP I looked at their platform and that is me 100%. I am not very nationalist for America but a country such as Canada with social justice I would be a nationalist.

That's pretty much what they do. Another party will introduce a bill and the conservatives will try and water down as much as possible and then reluctantly allow it. When they're in power, like now, they try as hard as they can to block any new legislation and spending, although you're right in that they rarely try and reverse anything already in place, Canadians generally don't like going backwards unless it was really terrible.

reply to post by Maddogkull


Originally Grand Falls, but now I moved to Moncton when I opened the second branch of my business.

~Keeper