The Parallel Parliament

Glen Pearson

Posts tagged “free trade

Trade of Another Kind

Posted on October 2, 2018

One could almost hear the collective sigh of relief when news emerged yesterday of a tentative NAFTA deal between the U.S., Mexico and Canada.  Technically, Donald Trump wants it renamed to the “United States-Mexico-Canada Agreement – or USMC.”   Credit must be given to the negotiators from all three nations who were at it for a year despite obvious hurdles. While citizens, pundits, economists and journalists work diligently to dissect the deal, it is essential to keep in mind that it is taking place in a larger global trading arena that’s in the early stages of transformation.  While the American president seeks to fundamentally alter the world’s trade balance in his favour, other economic players are increasingly cooperating in a fashion that seeks to circumvent…

Reform versus Retrenchment

Posted on October 5, 2011

Just suppose we’ve got the mechanics of economic recovery wrong. Other nations, realizing that a double-dip recession is now a clear possibility, are ramping up stimulus spending in an effort to keep their economies from falling through the floor. According to Jim Flaherty, our finance minister, Canada won’t be heading down that road. Instead we’ll tighten our belts – the same language he used when he was finance minister under Mike Harris. Who’s right? Could they all be wrong? One more question: why have we treated this last serious recession as a one-off, a sad downturn that will surely pass? I think it’s far more likely that our present financial predicament is merely the greatest in a line of economic declines. They are connected,…

Citizenship – “Plutarch’s Problem”

Posted on August 8, 2011

On the surface, Chile appears to be one of the great economic success stories. It has all the trappings of modern capitalism and numerous suitors knocking at its door at any one time to cement economic ties. Canada is an old friend, having signed a free trade agreement with Chile in 1996 – its first with any Latin American country. In fact, Chile presently has 47 trade agreements with other countries and is negotiating more. Surrounded by other countries struggling for stability, Chile is held up as a modern example of what sound economic policies can accomplish. In these troubling days of global economic turbulence, Chile and Canada both stand out as having defied the trend of financial decline. Liberalizing fiscal policies in the…