Trade, Productivity & Competitiveness
BC’s ability to adapt to a rapidly changing world economy will depend on how well we can find new ways of doing business, adopt new ideas and practices, and connect with new trading partners. The Council encourages public policies that support research and innovation, business practices that increase productivity, connections that open new trading opportunities, and processes to commercialize BC’s best research.
The Impact of Canadian Environmental Regulatory and Approval Regimes on Business Competitiveness
Environment and Energy Bulletin v4 n3
The global economic environment remains challenging, as Canadian firms and industries address the need to be competitive and maintain jobs and investment in the country. For Canada, one positive trend is the rise of Asia in the global economy. Today, Asia as a whole accounts for more than 35% of global output, and the figure is expected to approach one-half by 2025. Some analysts believe that sustained growth in China and other emerging economies in Asia (and elsewhere) will fuel a prolonged “up-cycle” for many internationally traded commodities, as rapidly expanding middle class populations in these nations enjoy steadily rising incomes and businesses and governments there invest to build infrastructure, factories, and other fixed assets.
Presentation: BC's Economic Outlook
Presented to Economic Development Association of British Columbia by Ken Peacock, Chief Economist, Business Council of British Columbia
British Columbia Perspectives on a National Energy Strategy (NES)
Environment and Energy Bulletin v4 n2
There was a time when the words “National Energy Plan” would have caused blood pressure to spike across much of Western Canada, which would then have been followed by colorful descriptions of the federal government. This may no longer be the case - and certainly not if many of the West’s leading think tanks, energy companies and provincial leaders have their way.
Resource Industries Drive Investment Spending Higher in BC
The release of Statistics Canada’s annual Public and Private Investment survey provides information on recent business capital spending and affords a useful glimpse into where and how much BC businesses are planning to invest in the coming year. The latest survey predicts a healthy increase in capital spending in 2012, and confirms that business investment will be a significant economic driver in the province. It also underscores the important role that resource industries and related infrastructure development are playing in the growth of BC’s economy.
Slow But Gradually Improving Growth In Store For BC
BC Economic Review and Outlook Feb 2012
BC’s economic growth in 2011 was modest and uneven. The first half of the year was particularly weak, as global equity markets underwent a steep sell-off, the American economy stumbled, the earthquake and tsunami sent Japan into a temporary recession, and financial stresses in the Eurozone escalated. Towards the end of the year, economic conditions in the US improved and, judging by job growth and a handful of other indicators, BC’s economy also appeared to pick up. This helped the province’s real gross domestic product (GDP) to expand by an estimated 2.0% in 2011. BC’s performance was reasonable compared to many other advanced economies, and was in the middle of the provincial growth rankings within Canada.
Submission: Select Standing Committee on Finance and Government Services
The Business Council of British Columbia submits preliminary advice on the 2012 provincial budget to the legislature's Select Standing Committee on Finance and Government Services.
British Columbia in the Asian Century
Policy Perspectives v18 n4
It is no longer a question of if but rather a matter of when. Almost a decade ago – back in 2003, to be precise – the global economics group at Goldman Sachs drew attention to the rise of Asia and sent minor shockwaves through the US establishment with its proclamation that China would overtake America to become the world’s biggest national economy in 2041. At the time this was viewed as a credible projection, but the fact that the eclipse date was nearly forty years away meant it was still fairly abstract and was enveloped with the uncertainty that invariably attends multi‐decade forecasts. Sustained double-digit growth in China prompted Goldman Sachs to revise its projection for the crossover date to 2027 a few years later. And now, following the Great Recession and what is expected to be a subdued economic expansion for the United States, 2019 is the most widely cited year for China to surpass America in overall economic size.
Asian century: How BC can profit
By Jock Finlayson, Executive Vice President and Chief Policy Officer, Business Council of British Columbia
How long before a surging China eclipses a slumping United States as the largest national economy? The question is timely as the world continues to recover from the 2008-09 financial crisis and economic downturn.
Temporary Foreign Workers in British Columbia
Policy Perspectives v18 n3
Canada has a long tradition of attracting immigrants to become permanent residents. Immigration built the country and is the foundation for much of the growth in the post WWII era. The context for international migration, however, is changing and being reshaped. The globalization of labour markets, instant access to information from around the world, greater connectivity and reduced transportation costs, and the expansion of trade have all made international migration a possibility for a larger share of the world’s population than in the past. The result is a significant increase in the volume and types of movement between many jurisdictions. While permanent population movements still dominate migration patterns to advanced countries, there are now greater numbers of temporary movements for work and education-related reasons. While Canadian international migration policy remains focused on permanent settlement, the shifting global landscape, an aging domestic workforce, a large number of major projects in the pipeline, the growing need for highly specialized skills, and regional labour disparities all point to a greater role for temporary workers in B.C. in many sectors.
The Natural Gas Story
Environment and Energy Bulletin v3 n2
Both globally and in North America, natural gas is poised to play a bigger role in meeting the energy needs of consumers, businesses and communities. Recent discoveries of large unconventional (shale) gas deposits in the United States, Canada and parts of Europe have heightened awareness that natural gas is an abundant, widely distributed and cost-effective energy source. Many analysts also see natural gas as a “foundation” fuel that can help to pave the way to a lower-carbon energy future. And with a number of countries – Japan, Germany, etc. – now looking at reducing their reliance on nuclear power, the global appetite for natural gas seems poised to increase markedly in the coming years.
Transportation Infrastructure for a Globally Conneted BC Economy
Policy Perspectives v18 n2
Infrastructure is the sometimes invisible and seldom discussed backbone of a modern economy. A region’s infrastructure affects the quality of life enjoyed by citizens, the competitive position of businesses, and the potential for long-term gains in productivity and incomes. As a small economy, BC depends heavily on trade with other countries and provinces to generate income, employment and tax revenues. Both the profit margins on exports and the costs of imported goods are linked to the efficiency of the freight transportation system. As a gateway to the Asia Pacific, BC’s transportation sector is more than a facilitator of trade. In connecting Asian countries with other North American jurisdictions, the industry generates its own export earnings, apart from the enabling economic activity more broadly. Transportation as an industry looms larger in BC than in other provinces.
A New World Order Takes Shape
Policy Perspectives v18 n1
How long before a surging China eclipses a struggling United States as the largest national economy? The question takes on new significance as the world continues to recover from the 2008-09 financial crisis and economic downturn.
Profile and Outlook for the BC Agri-Food Industry
Authored by Gregg Burkinshaw, Business Council of British Columbia
Vancouver as a City-Region in the Global Economy
Authored by the Vancouver Economic Development Commission
Shifting Perceptions: Health Industries as a Source of Wealth Creation in British Columbia
Authored by Jock Finlayson and Ken Peacock, Business Council of British Columbia
Opportunity BC 2020: BC's Forest Industry, Moving from a Volume Focus to a Value Perspective
Authored by Woodbridge Associations
Prospects for Mining in British Columbia
Authored by Michael R. J. McPhie, M.Sc., QEP, Managing Director, Natural Resource and Infrastructure Projects, Heenan Blakie
Co-operative Opportunities in British Columbia
Authored by Monica Marshal, Director, Strategy, Andrea Harris, Director, Community Leadership, Bill Corbett, Director, Elvy Del Bianco, Consultant