There will be some activities, particularly those that are labour-intensive and lower-value-added, where Canadian firms will not be well placed to compete with lower-cost producers in Asia. Adjustment will require shifting resources into expanding, higher-value-added activities where Canadian firms can exploit the new opportunities presented by the changing world economy.
By making these adjustments, we will be able to increase productivity and raise our standard of living over time. Demographic trends The third significant trend that Canada and other industrialized countries face is the aging of our populations. Right now, about one Canadian in eight is aged 65 years or older. By 2026, that ratio will be one in five.