Much of the economy will not ‘go back to normal,’ even when the CCP Coronavirus crisis passes. We must prepare for a new world.
The status quo of an overly-connected, globalized world is being dismantled as you read these words.
When push comes to shove, countries are realizing that they must be able to manufacture essentials here at home, rather than be dependent on foreign countries.
And while some politicians may want to try and forget this happened when it’s over, the status quo must never return.
When the CCP Coronavirus Crisis is over, Canada will be in a permantely changed world, and we must adapt quickly.
First, we must refocus on domestic manufacturing. That means imposing steep tariffs on products like medical supplies, metals, oil, and essential electronic components (with NAFTA excepted of course).
Those tariffs alone will incentivize more domestic and more North American production.
Second, we must make a large investment in automation, realizing that the idea of shipping jobs to low wage countries makes zero sense when we have the technology to build gigantic largely automated factories to produce what we need right here within our own country.
A combo of more domestic manufacturing and automation is very important, because it will create both good manufacturing jobs, and jobs in the tech sector, both of which are essential to our nation going forward. And this can go together, with automated manufacturing at the macro level, while small, specialized local manufacturing is done by people in local communities.
And finally, Canada needs a large investment in Artificial Intelligence. More and more people are going to be demanding delivery by drone, and transit/personal transportation networks will be essential parts of social distancing going forward. A transit system that is more efficient due to AI and computing power will mean people can still get around quickly, while not being packed as closely together.
Canada has immense potential to enter this new world after the crisis as a stronger nation, a Fortress Canada that is more self-sufficient, more advanced, and far more secure as a nation.
Spencer Fernando
Photo – YouTube
