BRICC?
July 15, 2010 Leave a comment
The Daily Social Media Marketing Campaign News
By Howard Oliver, CEO, What If What Next, whatifwhatnext@on.aibn.com
Much has been written about the business opportunities to be found in BRIC countries – Brazil, Russia, India and China. From my perspective, up here in Toronto Canada, we should be included too!. How about BRICC – Brazil, Russia, India and China and CANADA?
Here is one of many reports that point to the fundamental strengths of the Canadian economy and its viability as a powerful world player:
CIBC World Markets Inc. says that a growing list of “strategic advantages” are generating interest in the country’s economy and boosting its presence in global investment portfolios. Canada’s economic strength over many other developed country’s economies has increased its popularity with foreign investors, according to a new report. The report says Canada hasn’t been forced to take as many drastic measures to stabilize its debt ratios.
Canadian provinces have not faced the same financial constraints that have burdened many U.S. states, and the report says both federal and provincial revenues are “brightening materially.”
The report says that years of fiscal outperformance and surpluses have enabled Canada to slash corporate taxes and make other tax reforms that give the country an advantage over competing tax jurisdictions.
CIBC says the stronger domestic finances will only help Canada further by reducing borrowing requirements and protecting both federal and provincial credit ratings.
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