Source: Bloomberg
Author: Randy Thanthong-Knight
As the world ’s industrialized countries are facing a decline in birth rate and aging labor, Canada is the first to help support economic development with attracting immigrants.
The country's total population is equivalent to California, the United States, and the new population exceeds the total number of residents of San Francisco a year.Last week, the Canadian population had a history of more than 40 million people in history, and the economy is expected to continue to grow rapidly because it opens his arms to more immigrant workers, refugees and overseas students.
For the Prime Minister Trudeau government, large -scale immigration experiments are a way to broaden the labor market, and the global competition in technical workers has intensified.This also reflects the ambition of Canada's intention to expand its international influence and get rid of the shadow of neighboring countries.The United States and Canada are similar to the country, but the population is about 8 times that of Canada, and the GDP (GDP) is almost 12 times.
"We have a lot of space for people to live and develop," said USHA George, a professor of immigration policy at Toronto City University."In order to expand our agricultural, industry and technical foundation, we need more people to come."
Today, with the influx of the population at an unprecedented speed, Canada also faces challenges: how to promote economic growth in rural areas that urgently need new immigrants, while reducing pressure on central cities full of people.
Return is obvious.Population growth has boosted employment and consumption, helping the economy to resist the pressure of the Canadian Bank of Canada, so that the central bank has to restart the tightening operation unexpectedly this month.However, in this long -term real estate market, the government's plan has also triggered criticism, that is, increasing immigration goals will only increase economic output without improving personal living standards.
The actual GDP per capita GDP has rarely changed in the past ten years, and according to the forecast of the Bank of Canada, it is expected to decrease from the peak of 2022.The growth of productivity has always been stagnant, and the disposable income cannot keep up with house prices.
Even some famous economists who support immigrants now say that Canada has gone too far and too fast.
"It doesn't make sense to grow such a rapid growth in such a short period of time," said David Dodge, former Governor of the Bank of Canada."The speed of adjustment has exacerbated costs and reduced productivity growth, because people have adjusted less time." Decades ago, he studied a system that was the origin of the current immigration plan.
