Posted on: 13-01-12 18:11:33
Hi Guys,
Ontario has to move from manufacturing economy to service economy in future. In between thier will be pain ful changes. Hopefully, the change will pass through . People should try to upgrade thier skill set. I know it is easy said then done. But that is the only alternative.
Blaming new immigrant is not correct. Other option is for people to move to sasketoon ,alberta areas as labhour jobs are in plentty in that part of country. Thats what I heard from many people recently who have move thier. Thourgh the areas are more cold.
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infocan
What about India ?
China ==> manufacturing
India ==> Service..
Quote:
Originally posted by ashedfc
Services sector just transfers wealth, its doesn't creates wealth.
Services sector alone cannot sustain an economy, it will cause nightmares to the social fabric... as you can see already in those countries dependent on services are already going to the dogs..
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The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM
Interesting thread. BTW, I had a genuine query. If things are going so great in India, why did the Indian Re depreciate by close to 20% against the dollar in the last one year and why are the Indian banks offering close to 9% interest in deposits to NRI funds.
Is the situation still rosy in India or has the bubble burst?
Housing gain,Housing bubble,bust,recession,has been going on since the 30s.This is the way of life here and this is the way the economy works out here especially in Southern Ontario where the pie is not very big.I heard Margaret Thatcher's 1983 interview with a CBC host on CBC and she echoes similar sentiments as expressed by Tea Party and ultra conservative fringes today.She spoke about new jobs being created like "walkman and pocket TVs".The economic problems were the same in 1983 as they are today.Only technology and politicians have changed.You had the "Small Loan and Savings" fiasco soon after Reagan assumed office.
The heart of the matter I have met so many folks from Vaughan, Woodbridge, Caledonia,Bolton,Kleinburg they are all doing quite well with whatever background they have.Their community had the same challenges when they arrived here in early 80s.
Again I heard this on CBC from Micheal H and Matt Galloway "if the first 35 hours in the week is not working for you have to supplement that in the GTA or move West.
Housing gain,Housing bubble,bust,recession,has been going on since the 30s.This is the way of life here and this is the way the economy works out here especially in Southern Ontario where the pie is not very big.I heard Margaret Thatcher's 1983 interview with a CBC host on CBC and she echoes similar sentiments as expressed by Tea Party and ultra conservative fringes today.She spoke about new jobs being created like "walkman and pocket TVs".The economic problems were the same in 1983 as they are today.Only technology and politicians have changed.You had the "Small Loan and Savings" fiasco soon after Reagan assumed office.
The heart of the matter I have met so many folks from Vaughan, Woodbridge, Caledonia,Bolton,Kleinburg they are all doing quite well with whatever background they have.Their community had the same challenges when they arrived here in early 80s.
Again I heard this on CBC from Micheal H and Matt Galloway "if the first 35 hours in the week is not working for you have to supplement that in the GTA or move West.
My understanding is , the business ecosystem is imbalanced in Canada as far as manufacturing is concerned. Below are couple of reasons
1> In 80s or 90s, the CAD was 25-30% less than USD. That diff has gone away
2> The salaries in US have decreased.
3> Lot of unionized jobs in north US States have move to non- unionized South states. And the salaries for semi skill work in auto industry have reduced drastically. Auto industry is the trend setter, rest follow it.
4> Canada Govt or rather any Govt in the world have very limited room of maneuver as heavy import duty procedure have give away to free market.
Limited options that I could see is to re-skill in trade or do graduation studies for service industry( finance /banking, IT)
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infocan
