Quote from: "seoulbro"Well, regardless of whomever was in power, the steel industry sure took a hit in Ontario.Quote
At least you should admit that much
Indeed it has also been a victim of McGuinty/Wynn's green energy drive costs up madness.
Ontario now has the highest electricity costs across all Canadian provinces and among the highest costs in North America.
Ontario's manufacturing sector accounts for almost 40% of Canada's exports, so its decline is a matter of national concern. Between 2005 and 2015, Ontario's manufacturing output declined by 18% and employment by 28%. Notably, the paper manufacturing and iron and steel sectors, the two most electricity-intensive sectors in Ontario prior to the big price increases, shrank the most: the paper manufacturing sector by 32% and the iron and steel sector by 25%.
One major flaw of the Ontaeio economy is its overdependance on the United States for its export market. Even sonewhat pro business right leaning MacLeans and the Globe and Mail have pointed this out.
While Ontario is something like 80 or 90% dependent on the US, BC and other prvinces have moved away from this model and are now 50% Asia exports. And since the US midwest is in a decline so is Ontario because they have similar rust belt economies.
Wasnt this a major reason ex PM Harper devised and wanted the CETA with Europe? So he could make places like Obtarip less dependent on the US?