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The post-coronavirus economy in Canada will face many challenges.
This week on Down to Business, economist David Dodge, former governor of the Bank of Canada from 2001 to 2008, and now a senior adviser at law firm Bennett Jones, spoke about what lies ahead.
Dodge credited the Canadian government with getting cheques out to people and businesses in need, but said until now it has basically paid people to stay home and to keep consumption levels stable.
In the long-term, the government must find a way to invest money so that it increases the country’s productivity. He also offered his view that the geographic locus of technological innovation has shifted from the West, particularly the U.S., to Asia. In Canada, he said, we need to find the correct regulatory approach so that our own tech ecosystem can thrive.
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