U.S. protectionism a growing concern among Western analysts
October 28, 2009
Calgary and Edmonton - Economic and policy analysts across Western Canada are growing more concerned about the potential effects of increasing American protectionism, according to a new survey.
“It is of considerable concern that 82 per cent of respondents believed U.S. policy is becoming significantly more protectionist,” said Helmut Mach, Director of the Western Centre for Economic Research at the Alberta School of Business at the University of Alberta, which conducted the study jointly with the Canada West Foundation in September.
Respondents overwhelmingly agreed (97 per cent) that coming U.S. policy will have an important impact on the Canadian economy.
“Thus, at a time when the U.S. economy may be starting to turn around and expand with a potentially very large and important impact on Canada, economic analysts in Western Canada are concerned about rising U.S. protectionism and the effect of this on the Canadian economy,” he said.
The electronic survey is the only one that presents views from a wide variety of economic professionals across Manitoba, Saskatchewan, Alberta and British Columbia.
Approximately 25 per cent of respondents, all working in industry, government and academia, indicated they expected the U.S. economy to worsen over the next six months. About 73 per cent felt conditions in the U.S. economy would perform the same or somewhat improve.
"Considering the potential impact on Canada as a whole and particularly Western Canada, the evolving situation in the U.S. economy, associated with a concern about rising U.S. protectionism, should mean that federal and provincial Canadian governments will pay increased attention to interaction with political leaders and with policy developments in the United States,” said Mach.
“In the face of Buy-America provisions and expanded protectionist interests, it is important that Canadian governments fully engage with their U.S counterparts in at the administration, congressional, and state levels to reinforce the recognition of the importance to the United States itself of the integrated nature of the Canada-U.S. economy and to counteract the influences of populist protectionist initiatives," he said.
The survey is open to over 2,000 professionals who are closest to working details of the Western Canadian economy and will be conducted three times per year. The next results will be available in February 2010.
The Western Centre for Economic Research is an applied research centre within the Alberta School of Business at the University of Alberta. The centre monitors the performance of Western Canada's economy, its policies and programs, and implications for business enterprises. Drawing on a wide range of expertise, recent work of the WCER has included analyses of the Alberta resource economy, Western Canadian international trade, the effects of free trade agreements, barriers to trade and the role of small business in the West.
Canada West Foundation is the only think tank dedicated to being the objective, nonpartisan voice for issues of vital concern to western Canadians. For 40 years, through our research and commentary, the Foundation has contributed to better government decisions and a stronger Canadian economy.
For more information, please contact:
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University of Alberta
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jamie.hanlon@ualberta.ca
Mrs. Jamie Leong-Huxley
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Canada West Foundation
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