Canada: U.S. economy unlikely to fully recover

Posted on January 23, 2012

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OTTAWA — Canada needs to look beyond its southern neighbour for markets because the United States economy is unlikely to ever fully recover, Bank of Canada governor Mark Carney said Sunday.
In an interview with CTV’s Question Period, Carney said that it is vital for Canada to look for new trading partners in the Asia-Pacific region and elsewhere to prevent the economy from being dragged down by the U.S.
“It’s going to take a number of years before they get back to the U.S. that we used to know — in fact, they are not, in our opinion, ultimately going to get back to the U.S. that we used to know,” he said.

Financial Post

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