In each of the four years that followed, world GDP growth has been over 4 per cent in real terms. Last year, it was 5.2 per cent. In fact, the world economy has grown more during this period than in any other five-year period since the second world war.
Of course, strong non-inflationary growth of the global economy is desirable and good for most countries. But it is particularly true for Canada, given that so much of our economic well-being is derived from trade with the rest of the world.