We’re still in the shock phase of a global economic meltdown. Nothing else explains why some voices are still shouting “buying Canadian” is the only way to save jobs.
Albeit those voices should be applauded for their nationalist zeal, the encouragement of buying Canadian is comparatively different than issuing distress commands to buy Canadian; the latter signifying a reluctance to accept the inevitable outcome of globalization, which didn’t galvanize overnight.
Its steady growth over the past couple of decades has triggered a mega-shift from the managed economy of the cold war era to the new modern demands for ideas, technology, innovations and entrepreneurships.
We encouraged competition and applauded free trade for enabling expansive opportunity and growth.
Now we are faced with an inevitable consequence: Growing pains. We’re now forced to seek solutions, which could take some time. But given the instant gratification mantra of the marketplace we readily gobbled up, it won’t be easy. We don’t want to be caught off guard like Britain in the 19th century when the new U.S. economic empire arrived on the scene; so we must equip ourselves with knowledge to strategize into the future.
Many economists are predicting a shift in the balance of power to our neighbours from the East: China, a dominant player in mass manufacturing and India, with their high-tech hubs. Goods come cheap in India, less than three-grand a car.
Recently “On the Line,” I asked Leonard Brody, the CEO of NowPublic how much sense buying Canadian meant. He said it made as much sense as asking someone to vacation Canadian.
David Cravit, CEO of Zoomer Media offered his consoling advice that it made more sense to focus instead on becoming more competitive globally.
One only needs to look at the substantive restructuring, and uncertainty facing the Big Three Auto Maker Oligopoly to face up to the reality of the competitive global market. With the focus of the G-20 summit being to prevent a worldwide depression and restore confidence in markets, we nervously await any positive news while practicing the virtue of patience. For those of us who could, I will still extol the patriotic advice: “Buy Canadian.”