These issues are being examined by securities commissions and others. So, to sum up the macroeconomic side, the frameworks for our monetary, fiscal, and financial stability policies are second to none in the world, and do their job to support and encourage efficiency. But on their own, sound macroeconomic policies are not enough. Canada also needs microeconomic policies that spur competitiveness and support efficiency.
During the 1980s and 1990s, free-trade agreements with the United States and Mexico focused Canada’s attention on the opportunities south of the border. Individual Canadians and businesses have been making the tough adjustments that are necessary to face increased competition and to take advantage of new opportunities.