osmo |
Jul 17, 2011 9:46 PM |
Quote:
Originally Posted by Riise
(Post 5349519)
When it comes to exploiting/utilizing our resources, I think Canada is middle of the road. Canada's neither pissing it away (below average utilization) nor making the best of it (above average utilization). We should be doing better, I'm looking at you Norway, but we could be doing a lot worse, I'm looking at you Nigeria.
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I agree with this. Norway IMO is a good example. because they leverage their resources to build up the other sectors of the economy, infrastructures, and overall society which circles back into more innovation and technology and thus matures there economics much faster. I think people do underestimate how much resources mean to Canada - when literally a slow year in North Alberta can cause national figures to plunge. In more matured/diverse economies usually a switch to something else or would fill that void, but that doesn't happen as much as it should here in Canada.
Nigeria is a basket case, it really should be on the level of development as say Libya, or South Africa; its quite sad. But they have a lot of political issues which hinder this, the country should really be two units, they have a Muslim and christian split which bogs down the country and leaves it ripe for corruption as people swoop in to swindle as the two dominate sides bicker with each other.
For the poster who tried to downplay are resources when comparing it to GDP, just keep in mind Congo has (by conservative estimates) over 63 Trillion dollars worth of natural resources. Canada by modest accounts would be double or triple that. The global tally for economic output is roughly 55 trillion. We sit on probably close to 100 trillion dollars worth of natural wealth and fail to use it to a full potential. We could have top-class infrastructure like Japan or Germany, top-tier education and research; the possibilities are endless.
Canada is still a mono-economy, we don;t bring in innovative wealth like USA, where a flow of ideas has kept food on their tables for decades. Every now and then we get a dominant player like a RIM, or Corell, but they always seem to flame out (then picked apart and sold). We can do better.
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