The new estimate of potential output growth for the United States is now around 1¼ percent, when it was nearly 2 percent before COVID-19. Canada’s potential  1 For details, see D. Brouillette, J. Champagne and J. Mc Donald-Guimond, “Potential Output in  Canada: 2020 Reassessment,” Bank of Canada Staff Analytical Note 2020-25 (October 2020).
Nonetheless, the actual  BIS central bankers’ speeches  1  event has been getting much attention. The various ramifications – declining mining investment, the effects on incomes and government revenues – are the subject of daily news. In some other respects, not a lot has changed lately. China continues to grow in size and importance and to open up.