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Canada's Changing Economy

In his technical paper "A Cure for Dutch Disease: Active Sector Strategies for Canada's Economy ", he focused in two parts. The first part, explains in detail the negative structural consequence of the unregulated resource boom which affected Canada's economy. .
             The second part offers a set of solutions which would help to minimize those negative side-effects of resource development and contribute to a more successful and stable mix in Canada's economy in the future. I believe that "Dutch Disease " has strengthened Canada's economy. The discovery of natural resources should not be blamed for the decline in the manufacturing sector in Canada. Indeed "Dutch Disease " has actually left Canada's economy much stronger in many ways. .
             One of the author's main arguments is that "Dutch Disease " resulted in Canadian dollar to rise in its value which made Canadian-made products and services 25% more expensive than their actual value. This increase value in Canadian currency caused the manufacture products to be more expensive for foreign buyers to purchase them which in result made it harder for manufacturers to export their goods. I think a stronger Canadian dollar will have a positive impact on the Canadian-made products, because Canadian producers can have a cheaper imported inputs and lower cost of production with a stronger dollar value. So basically the increased purchase power will lower both the cost of good and the cost of production. .
             The author also argues that Dutch Disease has sharply declined manufacturing employment. Nearly 600,000 Canadian manufacturing jobs have been lost since the discovery of natural resources. I think "Dutch Disease " is not the only factor for the loss of manufacturing jobs in Canada. Indeed, the petroleum sector hired 54,000 Canadians in 2011, paying them a much higher wages compare to the manufacturing jobs. Also the jobs that were lost in manufacturing sector were lost by attrition, rather than layoffs or plant shuttering.


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