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Cheap will no longer cut it in Canada

March 22, 2010

For a long time, Canada exports have (in part) competed on price because the low loonie that made the price of goods sent to the US (the main market) cheap.

This bread a certain complacency as investment in technology (and the associated productivity gains) remained very low, especially compared to other developed countries.

All this may change as the loonie inches up to reach sustained parity with the greenback.

The good news is that Canadian business have seen this coming and appear to be doing something about it.

This is also good news because the additional competition may fuel an increase in the development and use of technology in Canada.

An increase in the Canadian technology sector will obviously help diversify the economy, but more importantly it will drive the creation of  new, indigenous, innovative companies and of high-value job opportunities  .

Canada Inc. Is Prepared for Dollar Parity – WSJ.com.

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