In an interview later, Mr. Peterson defended Canadian companies that outsource their production to cheap Chinese suppliers.
"Our companies have to be plugged into the best value chains globally. If they're not globally competitive, they will not be around very long. They'll soon be out of business. We will lose jobs the moment we become second-rate producers."
With 376 business executives from 281 Canadian companies accompanying him to Shanghai and Beijing this week, Mr. Peterson's mission is the biggest to date led by a Canadian trade minister (although it is not as large as the "Team Canada" missions led by former prime minister Jean Chrétien in the 1990s with provincial premiers involved).
The mission is aimed at reversing the steady decline in Canada's share of the Chinese market. According to the Asia Pacific Foundation, Canada's share of Chinese imports is 1.2 per cent today compared with 6.5 per cent in 1982.
Mr. Peterson has conceded that Canada is lagging behind its competitors in China. Yesterday, he declared that Canada's exports and investment in the Chinese market are clearly not enough.
"We are encouraging our companies to invest in China, to become part of China's growth and even part of China's exports," he said in his Shanghai speech........
www.theglobeandmail.com/servlet/ArticleNews/TPStory/LAC/20050120/RPETER20/TPBusiness/TopStories
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"In Canada, household debt has been rising twice as fast as disposable income over the past 15 years, and faster than growth in household assets since the beginning of the decade. Canadians are now 7 per cent more indebted than they were last year, and 20 per cent more than they were at the beginning of the decade."<br />
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"Growth in annual real disposable income averaged less than 2% since the early 1990s - one-third of the pace seen in the 1970s and 40 per cent slower than the average income growth of the 1980s. Despite a record-high employment rate, wage gains are non-existent, with real wages virtually flat since the beginning of the decade. Not only are wages not rising, but the absolute pay of many of the new jobs created in the past decade is lower."<br />
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""The almost chronic inability of the Canadian economy to generate high-paying jobs is largely behind the structural slowing in income growth, which, we believe, is at the heart of the excess borrowing by households," says Tal."<br />
<a href="http://www.canadiandemocraticmovement.ca/displayarticle566.html">www.canadiandemocraticmovement.ca/displayarticle566.html</a><br />
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The article I mentioned attributes these findings to household debt, but one plays off of the other. By sending decent paying jobs overseas, we are left with not only FEWER real jobs (McJobs), but increasingly fewer decent paying ones. Americans are clueing in to this to some regard, but Canadians are still a little slow on the uptake.<br />
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Send our jobs overseas = screwing ourselves.<br />
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Roy<br />
(can't seem to log in)
You can be sure that other worker's right that have been hard fought for over the past century are next on the block. Expect fully to see workers next being pushed to give up things like employment insurance, pension plans, basic safe working conditions, etc. After all, we won't be able to compete if business has to incur employee costs that China doesn't offer.
This may have the sound of class warfare but the reality no jobs are safe. There was a letter to the editor in the Calgary Herald not too long ago from a recent engineering graduate complaining that he couldn't find work because all of the jobs that entry level engineers used to do for local firms is being shipped to places like India. Also, anyone in management who thinks their job is safe better take note as well. After all, when they're making the stuff in China the factory management jobs will be over there too.
Of course, the solution to this is to boot this government out of office; and by the way for all those cons thinking that Stephen Harper is the other option his party is on the record for supporting this kind give away and so will be the same or worse than the Liberals. Same probably goes for the Green Party since they also have a conservative economic platform.