| ▲ | ryandrake 4 hours ago | ||||||||||||||||
What happens, specifically? Not that I'm a fan of "population increase forever" but what's wrong with Canada? | |||||||||||||||||
| ▲ | maxglute 3 hours ago | parent | next [-] | ||||||||||||||||
Pop increase faster than housing / good jobs. The usual. Tried to juice economy post covid with MASS Indian immigration, for reference peak "Chinese" immigration was post HK handover was 60k, settled at 40k per year, lots of Chinese wealth transfer to Canada. Indian immigration went from 60k per year to over 140k, outrageous amount. Bluntly, most of west including Canada gets second tier immigrants, all the good opportunities in US, Canada doesn't get to retain tier1 talent, and Indian immigrants are in aggregate less wealthy. The entire point of brain drain is to get best brains, or in lieu get wealth. Canada got neither. This not knock on Indian immigrants, who work just as hard as every other, just acknowledging value proposition is not the same. The broader context is Canada is on paper a small pop country with sufficiently alright governance to get per capita rich selling shit from ground. The more people you have have, the less that model works, and frankly Canada at 25m in the 00s already passed that point (vs 6m Norway). It doesn't help that... foreign influence have stagnated Canadian fossil/extractive industries development. Trudeau thought it was good idea to aim for 100m Canadians by 2100 (century initiative)... which on paper makes sense - only way for Canada to compete/influence vs US is heft, but of course that means a lot of brown and eventually black people fighting for housing and opportunities in the interregnum. Unsurprisingly, broken housing market = no one likes that interregnum. | |||||||||||||||||
| ▲ | alephnerd 3 hours ago | parent | prev [-] | ||||||||||||||||
A lot of people on the internet blame Canada's malaise on their historically lax immigration stance. While to a certain extent it has caused some social issues (eg. Indian, Chinese, Viet organized crime took advantage of it to leave crackdowns during the 2010s and 2020s and degree mills abounded), it's impact on the economy is overstated. Canada's economy was always a resource extraction and construction driven economy, and 1. the blocking of the Keystone Pipeline project (thus making Canadian ONG less competitive than American sourced ONG for refineries) 2. the rise of America as a net energy producer and exporter especially in ONG (thanks Obama/Biden, Trump/Pence/Tillerson, and former Govs Burgum and Perry) 3. the blocking of the GasLink LNG project (blocked the ability for Canada to build marketshare in Asia) 4. the blocking of the Northern Gateway pipeline project (blocked the ability for Canada to build marketshare in Asia) 5. the blocking of the Energie Saguenay LNG project (blocked the ability for Canada to build marketshare in Europe) 6. Bipartisan support in America for trade barriers against Canada even before the Trump tarriffs (eg. Biden and Trump's softwood lumber tariff policy) 7. (becuase this failure is bipartisan) Blue provinces halting renewables projects in Alberta and Saskatchewan while American governors on both sides took full advantage of CHIPS and the IRA, thus preventing Canada from building domestic dealflow in GreenTech all played a much larger role than immigration in causing economic malaise for Canada. At the end of the day, Canada's economy in the 2010s was structurally unprepared for America becoming a major energy producer and exporter by the 2020s, and was unable to successfully build infra to make Canadian ONG cost competitive against American ONG nor the ability to sell outside of North America. THIS is the legacy of the Trudeau administration - if your economy is based on resource extraction, fighting against it for political reasons is self-harming. Canada's GDP has essentially been stagnant for almost 15 years, and all kinds of infrastructure projects that would have helped the Canadian economy grow were blocked. Additionally, Canada has the same economic complexity [0] as Bulgaria [1] and Serbia [2] and is even less complex than Mexico [3], which makes Canada the least competitive choice for FDI within NAFTA. Australia is in the exact same boat as Canada, but unlike Canada, their political class fully backed their resource extraction industries. [0] - https://atlas.hks.harvard.edu/countries/124/export-complexit... [1] - https://atlas.hks.harvard.edu/countries/100/export-complexit... [2] - https://atlas.hks.harvard.edu/countries/688/export-complexit... [3] - https://atlas.hks.harvard.edu/countries/484/export-complexit... | |||||||||||||||||
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