With all of the grim news coming out of the American economy, its neighbor to the north isn't doing all that badly. A Canadian company is set to take over GM's European operations. And Canadian banks are swooping in to buy up failing US banks at every opportunity. Martin Hutchinson over at Breaking Views has an interesting take on Canada's role:
Canada's biggest bailout investment to date is General Motors' local arm, not an indigenous company. Its banks are relatively sound; and its recession is shallower, and its budget and payment deficits smaller, than those in the US. With an economy strong in fast-appreciating resources and a fiscally careful government, Canada looks a safer haven than its southern neighbor in times of turmoil.
categories: Canada
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