UNBC's Global Fridays lecture series puts on regularly scheduled presentations every year. For UNBC's 25th Anniversary, a special presentation was given by Professor Daniel Drache, Associate Director of the Robarts Centre for the Study of Canada from York University, Toronto.
"Natural Resource Exports: Curse or Blessing?"
There are many kinds of curses. Peak oil prices is the curse of short termism. Too much access is another curse. Mexico's GDP growth is one of the lowest in Latin America at around 3 percent annually despite having more access to the US market than any other country! Overspecialization can be a game changer. Under-regulation like over-regulation poses many dangers to a well-functioning economy. Can Canada be both blessed and cursed at the same time by its resource bounty but with very different consequences? This is the burden of my talk at UNBC.
Is Canada's social market now a victim of 'too much of a good thing'? If we are to be forward-looking, the challenge of the 'Staples Trap' is to find an exit strategy for a sustainable economic future. Canada's developmental crisis has been shaped by a long list of game changers such as de-industrialization, neo-liberal market fundamentalism, a weak notion of resource stewardship and no strategic vision for sustainable resource development.
"With the collapse of global oil prices and the shale oil revolution in the United States at full throttle, examining Canada's resource curse against the backdrop of the post 2008 global financial and energy crisis, I will argue that new policy options and practices are not only possible for Canada but unavoidable."
Professor Daniel Drache, Associate Director of the Robarts Centre for the Study of Canada from York University