A recently-released report from CIBC World Markets claims that the next five to 10 years will be Canada’s “time to shine,” economically-speaking. Good news for employers, employees, consumers, investors — just about everyone.
The report rehashes what’s by now a familiar story: Canada has strong economic fundamentals, good financial regulations, loads of natural resources, a competitive workforce and immigration policy, etc.
CIBC’s praise isn’t too effusive though. The report is at least as much about the sorry state of the global economy as it is about the strength of our own, praising our “comparatively low government and corporate debt” and a “healthier state of public and corporate sector balance sheets.” It echoes a recent story from Bloomberg which suggested that Canadian bonds are outperforming the rest of the world’s — not because they’re growing in value, but because they’re simply declining less.