Influential American columnist Fareed Zakaria looks north with, dare I say it, a tinge of envy:
Canada has done more than survive this financial crisis. The country is positively thriving in it. Canadian banks are well capitalized and poised to take advantage of opportunities that American and European banks cannot seize. The Toronto Dominion Bank, for example, was the 15th-largest bank in North America one year ago. Now it is the fifth-largest. It hasn't grown in size; the others have all shrunk.
So what accounts for the genius of the Canadians? Common sense.
….
Canada has been remarkably responsible over the past decade or so. It has had 12 years of budget surpluses, and can now spend money to fuel a recovery from a strong position.
…
If President Obama is looking for smart government, there is much he, and all of us, could learn from our quiet—OK, sometimes boring—neighbor to the north.
I'd rather be boring and reasonably responsible and solvent (well, almost) than exciting and broke. So let's not view the “boring” part an insult, as we Canadians often do whenever our neighbours suddenly discover we exist.
However, I don't know that our health care system is that much better than the one in the US.
http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/20080121/health_care_080121/20080121?hub=Canada
In Montreal there was a story recently about cockroaches infesting two oncology treatment rooms. One wag joked that before being admitted to those rooms, they had to spend 12 hours in the emergency room.
It might have been the voice of my inner pessimist screaming to be heard above the multitude of other voices on current events that caught my attention. But whatever it was, it has occurred to me that maybe, just maybe, by gushing over how 'good' the Canadian economy is doing in these 'hard times' for America, Fareed Zakaria is pushing a Buy American policy, without actually saying “Buy American”.
Think about it though. If Joe and Jane American are losing their jobs along with their neighbors, or having to lay off people, and are looking to this Stimulus Package being put out by the US Government, and they hear how “Canada has done more than survive this financial crisis. The country is positively thriving in it“, they might well be motivated NOT to spend whatever money they have/get in Canada because we're doing “so well!”
I mean, it's politically reprehensible to engage in Protectionst Activities right now, so instead of aggressively pursuing a “Buy American” policy, why not just make it look like everyone around you is doing very well without your money, so you should probably fire up your patriotism and spend it where it's needed.
Buy American policy (small p) without a Buy American Policy (capital P).