If there’s anything Canadians are not especially good at it’s investing. We tend to be a little shy on this one, often preferring government to take the risk in ventures. A good case in point is the debate over the provincial bus company where many still hold out hope that the government get back into the business.
And this translates across many sectors as Canadian shyness about investing creates opportunities for others. Foreign-controlled companies, for example.
The latest calculations on this one show that just over half the commercial trade in Canada was conducted by foreign-controlled companies. They also account for one-fifth of the total economy and one-in-eight jobs.
In the U.S., the impact of foreign-controlled firms is about half of what we see in Canada, reflecting how Americans are much more likely to invest and create wealth than we are.
And the industries that attract them are manufacturing followed by the wholesale sector.