{"id":14232,"date":"2015-11-09T21:01:08","date_gmt":"2015-11-10T02:01:08","guid":{"rendered":"http:\/\/olduvai.ca\/?p=14232"},"modified":"2015-11-09T21:01:08","modified_gmt":"2015-11-10T02:01:08","slug":"obamas-trade-deal-will-bankrupt-canadas-farming-industry-overnight-expert-says","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=14232","title":{"rendered":"Obama’s Trade Deal Will Bankrupt Canada’s Farming Industry “Overnight”, Expert Says"},"content":{"rendered":"

Obama’s Trade Deal Will Bankrupt Canada’s Farming Industry “Overnight”, Expert Says<\/a><\/h3>\n

Earlier this month, in \u201cForget China: This Extremely “Developed” Country Just Suffered Its Biggest Money Outflow Ever<\/a>,\u201d we took a close look at Canada, where slumping crude prices are beginning to take a serious toll. As we noted, citing BofAML,\u00a0Canada\u2019s\u00a0basic balance\u00a0<\/em>– a combination of the capital and the current account: a measure of national accounts that spans everything from trade to financial-market flows – swung from a surplus of 4.2% of GDP\u00a0to a deficit of 7.9% in the 12 months ending in June.\u00a0<\/strong>That\u2019s the fastest one-year deterioration among 10 major developed nations.<\/p>\n

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Citing Sharma’s data\u00a0Bloomberg wrote\u00a0<\/a>that “money is flooding out of Canada at the fastest pace in the developed world as the nation\u2019s decade-long oil boom comes to an end and little else looks ready to take the industry\u2019s place as an economic driver.”\u00a0<\/strong>In fact, based on the chart below, the outflow is the fastest on record.<\/p>\n

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Well now, on the heels of the Obama administration’s rejection of the “dangerous” Keystone Pipeline (which comes as oil tankers\u00a0continue to derail<\/a>\u00a0across the country), some critics say The White House’s controversial new trade deal could end up costing beleaguered Canada massive job along with the “overnight” collapse of their agriculture industry. Here’s more,\u00a0from Sputnik<\/a>:<\/p>\n

There are also major concerns over the effects the trade deal will have on Canadian agriculture industries.<\/em><\/p>\n

Dr Sylvain Charlebois, professor of distribution and food policy at the University of Guelph’s Food Institute in Canada, told Sputnik there were many unanswered questions in the deal.<\/em><\/p>\n

“I think overall, reading the deal, there are some very strong elements to support Canada’s membership into this partnership. However, there are a lot of unknowns unfortunately, particularly in the area of agriculture.”<\/em><\/p>\n

Dr Charlebois said that Canada’s protectionist supply management scheme, which works to protect local industries, would be thrown out under the TPP, with concerns over how this would impact local producers.<\/em><\/p><\/blockquote>\n

…click on the above link to read the rest of the article…<\/p>\n

 <\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Obama’s Trade Deal Will Bankrupt Canada’s Farming Industry “Overnight”, Expert Says Earlier this month, in \u201cForget China: This Extremely “Developed” Country Just Suffered Its Biggest Money Outflow Ever,\u201d we took a close look at Canada, where slumping crude prices are beginning to take a serious toll. As we noted, citing BofAML,\u00a0Canada\u2019s\u00a0basic balance\u00a0– a combination of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[10523,83,103,10524,9950,10525,4318],"class_list":["post-14232","post","type-post","status-publish","format-standard","hentry","category-economics","tag-agriculture-industry","tag-bloomberg","tag-canada","tag-dr-sylvain-charlebois","tag-sputnik","tag-university-of-guelph","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/14232","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14232"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/14232\/revisions"}],"predecessor-version":[{"id":14233,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/14232\/revisions\/14233"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14232"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}