Canada Seeks Resilience in Era of Uncertainty
The collapse of trade talks between Canada and the US has highlighted the era of uncertainty and unpredictability that we're living in. Over the past few years, geopolitical rivalry, supply-chain disruptions, technological change, and economic shocks have led to a shift away from globalization and towards sovereignty.
As a result, households are facing higher prices, people are anxious about their jobs, and businesses are more cautious about investing. To address this, governments around the world are adopting an activist approach to the economy, focusing on resilience and derisking private investment.
The Canadian government has been at the forefront of this approach, taking a proactive stance in areas such as housing, infrastructure, defense, and strategic industries. The Business Council of Canada (BCC) has launched the Strengthening Canada project, which aims to bring business and policy leaders together to discuss how Canada can strengthen its economy and institutions in a rapidly changing world.
The BCC's survey of CEOs and entrepreneurs highlighted four key themes: building a resilient and sovereign economy, government-private sector collaboration, strategic sectors, and capacity-building. The organization is now holding roundtables across the country to discuss these ideas and identify practical solutions to Canada's challenges.