Word: quebec
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Both Alcoa and Goodyear had operated well below capacity for a number of years, so it came as no surprise when they announced plans to move production to Venezuela and Mexico, respectively. Unfortunately, Collingwood's tale of economic woe is being repeated in communities across Ontario and Quebec--Canada's industrial heartland. "A high Canadian dollar is an absolute killer," says Peter Nygard, chairman of Nygard International Ltd., a manufacturer of women's clothing in Winnipeg, Man., whose $1 billion in annual revenue comes largely from...
...Quebec Premier Jean Charest recently announced a $620 million aid package to help his French-speaking province's ailing manufacturers and has urged the federal government to follow his lead. In the meantime, Mayor Eddie Francis of Windsor, Ont., near Detroit, is trying to cope with an 8.6% unemployment rate in a town known as the automotive capital of Canada. "It's a challenge and we're going to have to get through it," he says. The strong loonie may be great for cross-border shopping excursions, but it's of little help to anyone without a paycheck...
...something big was happening in Canada in 2007. The economy boomed even as that of its southern neighbor showed signs of cooling. The engines of Canadian growth are shifting from the traditional heartland, Ontario and Quebec, to the resource-rich regions of the West and Newfoundland. In 2007, some Canadians won. Some lost. Or, as the Canadian Press put it in September: "High Loonie Is Bad for Canadian Pigs, Good for American Lettuce...
...choice, a single-payer system often forces everyone to have the same choice, which has an insidious flipside. In Canada this meant that no one could sacrifice more to obtain better or more prompt treatment. It was only in 2005 that the Canadian Supreme court struck down a Quebec law forbidding private insurance for medically necessary operations, claiming that it violated the defendant’s right to person...
Montreal, Europe's pied-a-terre in North America, went through a grim economic patch in the '80s and early '90s, when it had clearly lost its panache. The threat of Quebec separatism and a prolonged Canadian recession sapped its economic life. So many shops were shut that the city began to look more like struggling Buffalo, N.Y., than Paris. Today, though, this charming city is experiencing the kind of renaissance that old cities like Dublin and Prague have seen in recent decades. Chic new businesses, such as fashionista Fidel or juice purveyor Moozoo, are popping up seemingly everywhere...