Economy

Historical Protectionist Mentality Hurts Canada’s Competitiveness Globally

Recent analyses of Canada’s competitiveness show a worsening trend. Compounding the predicament is the lack of domestic competition.
Historical Protectionist Mentality Hurts Canada’s Competitiveness Globally
Workers package artisanal cheeses at the production facility of Fromagerie Fritz Kaiser in Noyan, Quebec, on October 11, 2018. Dairy is one industry heavily protected from competition through supply management in Canada. The Canadian Press/Ryan Remiorz
Rahul Vaidyanath
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NEWS ANALYSIS

Recent analyses of Canada’s competitiveness show a worsening trend. The elephant in the room is an onerous tax regime, but many other factors play deleterious roles, like anemic foreign direct investment (FDI), inadequate spending on research and development, and a high regulatory burden.

Compounding the predicament is the lack of domestic competition. Canada protects dominant firms in certain sectors from competition by erecting barriers to entry. Its federal and provincial governments either own or are heavily involved in controlling several industries.

Rahul Vaidyanath
Rahul Vaidyanath
Journalist
Rahul Vaidyanath is a journalist with The Epoch Times in Ottawa. His areas of expertise include the economy, financial markets, China, and national defence and security. He has worked for the Bank of Canada, Canada Mortgage and Housing Corp., and investment banks in Toronto, New York, and Los Angeles.
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