Rise of digital currency and weaponization of U.S. “Though we don’t like to admit it, our own prosperity and stability are greatly affected by what happens there. prosperity and international influence, Canadians ought to worry a little,” he added. share of international reserves represents a diminution of U.S.
“I doubt if the average Canadian has ever given this question a moment’s thought,” says Laidler. This advertisement has not loaded yet, but your article continues below. foreign reserves and increased Canadian ones, means Canucks will “enjoy certain benefits,” says Worku Aberra, a professor of economics at the Montreal-based Dawson College. gets real goods and services in exchange for the paper the fed ‘prints,’” said David Laidler, economist and professor emeritus at Western University.Ĭanada is highly dependent on the United States, but the impact is complicated. When other countries increase their dollar holdings, the final product of the string of transactions involved is that the U.S. “America gets a significant economic advantage from the status of the dollar. In its new strategy, it also increased the portfolio’s holdings of the Australian dollar, Canadian dollar, and Japanese yen. Israel added the Chinese RMB to Central Bank reserves for the – first time – in April. The next issue of LFP Noon News Roundup will soon be in your inbox. If you don't see it, please check your junk folder. Manage Print Subscription / Tax ReceiptĪ welcome email is on its way.
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