A wide variety of modelling and analytical approaches are required to gain the necessary comprehensive understanding of the economic, financial and social impact of these structural changes, including the interaction effects between digitalisation and the carbon transition. Digitalisation and the greening of the economy require significant levels of investment, both from the private sector and the public sector.
But let’s look at where growth is cooler – in the manufacturing sector. Here, the story is not so cut and dried. As I mentioned, the strengthening Canadian dollar in response to an improvement in the terms of trade contributes to the competitiveness headwinds faced by non-energy exporting companies, especially manufacturers.