Quote:
Originally Posted by MonctonRad
Very true.
Services can create a lot of jobs, but, they do not actually create wealth. You only create wealth by building (or extracting) things and then exporting them. This brings external wealth into our national economy and boosts our GDP. The only thing services does is to recirculate pre-existing wealth within the economy. The effect of a service economy on national GDP is essentially zero.
To create wealth, Canada needs to selling goods internationally. You can do this purely extractively, but, if you want to boost the value of our exports, we should be selling manufactured goods created using the bounty of our natural resources.
Unfortunately, the only thing we have exported is our actual manufacturing capacity. It lives now in China.
Not a strategically wise choice, either militarily or economically. Canada gets poorer and weaker every year.
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A service economy is great my point is more the 5% measure is off in terms of measuring importance. I think the entire Canadian banking sector is also 5-6%. In terms of wealth generation both are important and 5% is misleadingly low. Granted without resource sector a lot of the banking industry isn't there. Same with manufacturing.
A value added service economy is ideal. But at the same time when you have a wealth generation engine by just digging stuff out of the ground only absolute idiots would try and actively stiffle it. That is my only point.
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