Economy 52,951 Posted February 10, 2015 Share Posted February 10, 2015 http://www.cbc.ca/news/business/oil-s-swoon-sparks-alberta-schadenfreude-in-rest-of-canada-1.2949911 Its no secret that Canada has huge economic disparities by regional areas... Some Provinces in the West particularly Alberta and Saskatchewan have been doing exeptionally well with strong economic growth, while Atlantic Canada has been doing terribly since the 1990s and Central Canada somewhere in between This has resulted in "schadenfreude" in which many Canadians actually admit they enjoy when neighboring Provinces struggle and they are elevated above them Western Canada especially Alberta has been the richest booming part of the Country for 15 years now. And the current Government has favored them with energy and oil incentives while virtually ignoring the dying manufacturing sector the rest of the Country depends on. Manufacturers and exporters had to also put up with a higher currency as a result of the energy boom in the West. What we have now is many Eastern/Central Canadians actually feeling pleasure in seeing Alberta and Western Canada struggling for a change as commodity prices particularly oil falls. Link to post Share on other sites More sharing options...
Fish 6,259 Posted February 10, 2015 Share Posted February 10, 2015 your so into canadian politics and eoconomy Link to post Share on other sites More sharing options...
craig 680 Posted February 10, 2015 Share Posted February 10, 2015 The US has it's Red States and Blue States which divide more or less along Civil War battlelines. In UK, Scottish independence movement was fueled by supporting Labour and getting outvoted by South England. Or look at West vs East Ukraine. Such divisions are more common than not. The West hated Pierre Trudeau for a decade but he was put in power by Quebec and Ontario. That's when regionalism really got going. Link to post Share on other sites More sharing options...
Economy 52,951 Posted February 10, 2015 Author Share Posted February 10, 2015 The US has it's Red States and Blue States which divide more or less along Civil War battlelines. Scottish independence movement was fueled by supporting Labour and getting outvoted by South England. The West hated Pierre Trudeau for a decade but he was put in power by Quebec and Ontario. That's when regionalism really got going. but i think that the energy boom (which also raises the currency) often makes manufactured goods less competitive has a big thing to do with it Developing the energy sector will have at least some negative impact in manufacturing as exports are harder to sell, compounded by the fact that cheaper imports also discourage buying made in Canada stuff... Canadas interests economically are therefore highly divided because Western Canada is basically energy and natural resources, and Central Canada is basically all manufacturing... but both sectors are kind of incompatible with each other So its West vs East in term of what the Country as a whole thinks the Federal Government should focus on With our current Government they chose to focus on energy... they never did much to try to revive Canada's dying manufacturing sector. Western Canada prospered while the rest of the Country deteriorated. And now theres a lot of West hatred Link to post Share on other sites More sharing options...
craig 680 Posted February 10, 2015 Share Posted February 10, 2015 Across the border from Ontario, what Americans call the "rust belt" is in worse shape and losing population to the south and west. High dollar is good for competitiveness of Canadian sports teams, good for foreign travelers and shoppers, and many in East are aren't in manufacturing. Link to post Share on other sites More sharing options...
Economy 52,951 Posted February 10, 2015 Author Share Posted February 10, 2015 Across the border from Ontario, what Americans call the "rust belt" is in worse shape and losing population to the south and west. High dollar is good for competitiveness of Canadian sports teams, good for foreign travelers and shoppers, and many in East are aren't in manufacturing. but its the base of the economy... especially for Central Canada (Ontario and Quebec). We lost MANY good high paying manufacturing jobs and the high dollar was partially at fault. Manufacturers hate a high currency as it makes their businesses less competitive with foreign producers If ur a comodity based economy like Alberta a high currency is good cause it wont stop u from selling oil (you dont need to be super competitive to sell commodities) while you enjoy more purchasing power But for a goods producing economy... a high currency only encourages consumption because its cheaper while it discourages real production It feels good innitially cause you can travel for cheaper, you can cross border to the US for cheaper etc... But in the long run you really start to feel the pain Link to post Share on other sites More sharing options...
Memo 176 Posted February 10, 2015 Share Posted February 10, 2015 the recession is real :emma: Link to post Share on other sites More sharing options...
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