Business is just booming in Canada, eh. That message rang loud and clear at the Milwaukee World Trade Association's 44th annual Wisconsin International Trade Conference Tuesday.
In 2004, Ontario made automotive history when it surpassed Michigan as the largest automotive producing jurisdiction in North America, according to Ward's Automotive. While Detroit withers, DaimlerChrysler, Ford, General Motors, Honda, Suzuki and Toyota have shifted production plants to Canada.
I asked Ward why America is losing so much production and so many jobs to Canada. She did not hesitate with her answer. "Health care."
America has the highest health care costs in the world. I know it deeply disturbs many Wisconsin business leaders to hear it, but Canada's government-paid, universal health care system is an economic competitive asset, when compared with America's mish-mosh system that is part private, part socialistic and all redundant, inefficient and costly.
Ward also noted that Canada has a more tightly regulated mortgage banking system, so its economy has not been nearly as shell-shocked by the subprime collapse as the American economy has been.
Milwaukee Small Business Times: We Need Universal Healthcare
It is all here: