IN CANADA, we have seen the issue become the focus of a broader public debate under both the previous Conservative government of Stephen Harper and the current Liberal government of Justin Trudeau. For Harper, the issue was Chinese state-owned CNOOC Ltd.’s acquisition of Nexen; for the Trudeau government, it was the sale of Canadian satellite technology firm Norsat International to Hytera, a Chinese communications firm.

Public debate typically raises concerns about national security, sovereignty, environmental standards and labour laws. Public trust is also undermined by approval processes that take place behind closed doors at the federal cabinet table.

However, the debate often misses the point that Canada needs foreign investment and always has. In fact, Canada has been built by foreign investment, in many ways. Canada is a large country with a relatively small population; we simply don’t have the domestic financial resources to fully tap our immense potential.

The public assumes that foreign direct investment is an issue mainly in the resource extraction sector, but this is not the case. In 2016, the manufacturing sector in Canada led all other industries in foreign direct investment at 28 per cent. Overall growth last year in this type of investment occurred across most industries, led by wholesale and retail trade (10.1 per cent growth), manufacturing (5 per cent) and mining and oil and gas extraction (3.2 per cent), according to tradingeconomics.com.

Foreign direct investment is a practical necessity for continued growth

At a time when world powers like the U.S. and China are looking inward economically, there is opportunity for Canada. U.S. President Donald Trump’s “America first” approach and China’s new regulations restricting “irrational” overseas investment by Chinese interests may seem threatening in the near term. However, the slowing of foreign capital investment may focus Canada’s approach to global trade.

The rest of the world is looking to Canada not only for the opportunities we offer, but also because of our relationship with these two global powers and our access to their markets. Additionally, the new global dynamic may mean new opportunities for bilateral trade agreements that can establish clearer rules for foreign direct investment, and can lead to new sources of capital for Canadian industries to access. One only has to look to such things as the Canada-EU trade agreement, Brexit, continued dialogue with China and India, and the renegotiation of NAFTA to see where that potential may come.

That doesn’t mean that Canada should abandon its values. Some things cannot be compromised, including national security, environmental and labour protections and other things that benefit Canadians.

However, rather than playing politics with approvals or allowing the perception of clandestine decision-making processes to prevail, governments should focus on developing and enforcing protections that Canadians can have confidence in.

Despite the public discourse that has occurred with recent transactions, foreign direct investment does not mean the sale of Canada’s natural resources or state secrets to foreign countries. The federal government must be proactive and transparent about the laws and regulations that will be applied to protect Canadian interests.

To fully develop its economic potential, Canada should seize the opportunity to be a place in which the world wants to invest.

THERE HAS NEVER been a better time to be Canadian.

Donald Trump’s presidency has rocked the world’s confidence in the United States. Brexit has left the United Kingdom in a state of limbo. There is no question that our world is shifting. Tumultuous political change and global risk is all around us. The most stable and respected democracies in the world have been shaken.

In a world filled with uncertainty, Canada, at least for the time being, appears to be an outlier.

Canada offers a welcoming business environment, one that makes it, according to Forbes Magazine, the second-best country in the G20 in which to do business. Over the past decade, Canada’s growth numbers lead the G7. It offers assured preferential access to over half the world’s output of goods and services. Low business tax costs, a competitive R&D environment, and a banking system the World Economic Forum believes to be the soundest in the world undoubtedly make Canada the best country in which to invest and innovate.

Our hospitals, universities and social services are modern and accessible.

It is indisputably cool to be Canadian. We are no longer known only for hockey, cheap beer and apologies. Instead, we are considered compassionate, collaborative, humorous, musical, stylish and pragmatic. Canadian ex-pats all over the world are proud of where they’re from.

Compare this with the situation with our neighbour to the south. The New York Times has said that Americans should be forgiven for looking northward with yearning. This is a first.

All of that said, we are not without our own challenges. In particular, Indigenous communities across this country are suffering. I am hopeful that the government and civil society at large will work to find positive solutions with Indigenous communities, to clear a path forward.

This issue of Perspectives looks at how business and other segments of society can take advantage of Canada’s new place on the world stage. We look at the evolution of our country’s brand, take stock of our regional differences, delve into how we are perceived internationally, and shed light on some of the opportunities we see on the horizon.

Remember: fads, trends and successes are transitory. We are not immune to global challenges, and our domestic circumstances could change in the blink of an eye. We do not know the time horizon on this period of success, but what we do know is that now is Canada’s time and, therefore, the time to take advantage of it is now.

 

French author Marcel Proust is famous for his gentle remembrance of things past, his eponymous character-revealing questionnaire… and his love of madeleine cookies.

GRAHAM FRASER is an award-winning political journalist and Canada’s longest-serving Commissioner of Official Languages (2006-2016).

What is your idea of perfect happiness?
Sitting in an Adirondack chair on a dock by a lake.

What is your greatest fear?
Missing a deadline. Over a decade after leaving journalism, I still have nightmares about it.

What is the trait you most deplore in yourself? 
Clumsiness.

What is the trait you most deplore in others?
Rudeness.

Which living person do you most admire?
My two sons, for their independence and courage.

What is your greatest extravagance?
Expensive coffee.

What is your current state of mind?
Extremely positive.

What do you consider the most overrated virtue?
Tidiness.

On what occasion do you lie?
When an excess of candour would be hurtful.

What is the quality you most like in a person?
A sense of humour.

Which words or phrases do you most overuse?
“On the other hand…”

What or who is the greatest love of your life?
My wife. Marrying her 49 years ago was the best decision I ever made.

When and where were you happiest?
Behind the wheel of a sailboat in the British Virgin Islands.

Which talent would you most like to have?
Hand-eye co-ordination.

If you could change one thing about yourself, what would it be?
I would have athletic ability.

What is your most treasured possession?
A Karsh portrait of my father.

Navigator’s list of quintessentially Canadian diversions

GIMME SHELTER

CRANBROOK, BRITISH COLUMBIA
Located in the Canadian Rocky Mountains, between Banff and Glacier National Park, this region is ideally suited for activities ranging from horseback riding to river rafting. Stay at the Three Bars Guest Ranch, a dude ranch that creates an authentic rancher experience for guests.
Where to stay
Three Bars Guest Ranch   |   www.threebarsranch.com 

VANCOUVER ISLAND, BRITISH COLUMBIA
Located near Tofino in the Clayoquot Sound UNESCO Biosphere Reserve, Clayoquot Wilderness Resort offers guests a restorative, bespoke, turn-of-the-century outpost camping or “glamping” adventure. This world-class eco-safari-style resort works closely with the Ahousaht First Nation to make the reserve sustainable and accessible for visitors.
Where to stay
Clayoquot Wilderness Resort   |   www.wildretreat.com 

ORILLIA, ONTARIO
If you’re an adult who longs for the days of camp, and you want to get back to basics, try a digital detox at Camp Reset next summer. Enjoy a total break from technology, with camp programming that focuses on wellness, workshops and group activities—all designed to make you feel like a kid again.
Where to stay
Camp Reset   |   www.campreset.com 

NORTH HATLEY, QUEBEC
Founded more than 100 years ago, North Hatley is recognized as one of Quebec’s most beautiful villages. It is home to a number of century-old heritage buildings, one of which is Manoir Hovey, a five-star Relais & Châteaux property that has counted the Clintons among its guests.
Where to stay
Manoir Harvey   |   www.manoirhovey.com 

FOGO ISLAND, NEWFOUNDLAND
Newfoundland and Labrador’s largest offshore island has a long maritime history and a vibrant art scene. While Fogo Island is accessible year round, whale migration and sea-cliff footpaths make the island a perfect destination in the spring.
Where to stay
Fogo Island Inn   |   www.fogoislandinn.ca 

WINNIPEG, MANITOBA
Take an urban getaway to Winnipeg to visit the Canadian Museum for Human Rights’ Tower of Hope, which provides panoramic views of the city. While in “the Peg,” dine at Chef Mandel Hitzer’s internationally acclaimed Deer + Almond. Hitzer, who received attention this year for RAW:almond, his award-winning month-long pop-up restaurant situated on the frozen Assiniboine River, has put Winnipeg on the map for foodies far and wide.
Where to stay
The Mere Hotel   |   www.merehotel.com 

EXTRA TIP
Where to eat
RAW:Almond   |   www.raw-almond.com

---

GREAT CANADIAN LANDMARKS

---

BOOKMARK THIS… 

Notable Canadian reads 

The Book of Negroes
by Lawrence Hill

Life of Pi
by Yann Martel

Anne of Green Gables
by L.M. Montgomery

Room
by Emma Donoghue

Lullabies for Little Criminals
by Heather O’Neill

The Handmaid’s Tale
by Margaret Atwood

---

CANADIAN CONTENT

Best Canadian TV shows 

Being Erica

Kids in the Hall

Degrassi

Orphan Black

Schitt’s Creek

Heartland

Saving Hope

---

DASHING DINING

Canada’s best dining experiences

LE VIN PAPILLON, Montreal   |   www.vinpapillon.com 

 

ALO, Toronto   |   www.alorestaurant.com 

 

DEER + ALMOND, Winnipeg   |   www.deerandalmond.com 

 

PIGEONHOLE, Calgary   |   www.pigeonholeyyc.ca 

 

RAYMOND’S, St. John’s   |   www.raymondsrestaurant.com 

---

BEST WINERIES – BEST BREWERIES

---

STRONG & FREE

Here is a list of notable Canadians who have made their mark in 2017 in popular culture, sports, science and art:

DENIS VILLENEUVE   |   Canadian film director
French Canadian filmmaker and writer Denis Villeneuve has received international acclaim with his feature films Arrival (2016), Sicario (2015) and Prisoners (2013). Villeneuve’s star continues to rise this year with the release of Blade Runner 2049.

 

JULIE PAYETTE   |   Governor General
An engineer, science broadcaster and corporate director, Julie Payette has done everything from being an astronaut to carrying the Olympic flag during the opening ceremonies of the 2010 Vancouver Winter Games. Payette was sworn in as Canada’s 29th governor general on October 2nd.

 

DENIS SHAPOVALOV   |   Canadian tennis player
Denis Shapovalov is Canada’s newest tennis sensation. After defeating veteran Rafael Nadal in a thrilling third-set tiebreak at this year’s Rogers Cup, and with vocal supporters like hockey great Wayne Gretzky, this 18-year-old seems to have what it takes to be a superstar.

 

KENT MONKMAN   |   Canadian artist
Kent Monkman is a Canadian artist of Cree ancestry who drew attention this year with the opening of his exhibit Shame and Prejudice: The Story of Resilience. Monkman’s pieces provide 150 years of perspective into the treatment of Canada’s Indigenous peoples from the beginning of the country’s history. The exhibit will display across Canada until 2020, with stops in Kingston, Charlottetown, Halifax, Montreal, Winnipeg and Vancouver.

 

SHANIA TWAIN   |   Canadian singer-songwriter
Everyone’s favourite Canadian pop-country music star is back this year with the release of Now, her first album since 2002. Shania Twain will be hitting the road to promote the album with a 46- date tour scheduled for next year.

^{Canada’s 28th Governor General}

YOU RECENTLY STATED THAT WE ARE AT A HINGE POINT OF HISTORY AND THIS GIVES CANADA A UNIQUE OPPORTUNITY TO LEAD. WHY IS THAT THE CASE?

DJ. First, with technological advances increasing at a geometric progression rate, the capacity of the human response to that is growing at a lesser pace. Secondly, globalization means the world is very connected. Thirdly, we have become even more powerful in our ability to destroy one another and that power has been wide spread. And fourthly, trust has diminished, eroded. More than 50 per cent of the population in the United States, United Kingdom and France, for example, prefer ideology or social media to get their information as opposed to more traditional sources.

The world looks for solutions to bring a kind of order out of chaos. Canada, which has been premised on the belief that diversity is a strength, and it can serve to develop a more resilient, more inclusive, more creative, and more cohesive nation, I think is in the spotlight. And I think we have to do everything we can to build on those strengths in our Canadian way, which is not to be arrogant, but to be persuasive, to demonstrate that we have some lessons for the world, in terms of avoiding extremes, of trying to find common ground, learning how to live with diversity and that inclusiveness is a strength.

ARE YOU CONCERNED AT ALL ABOUT THE WIDENING GAP IN INCOMES? FOR EXAMPLE, PEOPLE WHO CAN AFFORD IT, QUITE OFTEN, GIVE THEIR CHILDREN A BETTER CHANCE, PUT THEM IN A PRIVATE SCHOOL. IN THE LONG RUN, IS THAT AN UNHEALTHY TREND?

DJ. I worry a lot about inequality of the distribution of wealth in societies. I think over history you’ll find when that really becomes skewed, problems begin to emerge, and, ultimately, those societies begin to diminish and sometimes have more difficult consequences. I should say that the private educational initiatives are good, in a sense that diversity is helpful and that striving for excellence is helpful. Then, our public universities are of good quality, as well as being accessible. So, I don’t think it has become a major issue in Canada as it has become in some other countries, where through private education you do either develop or reinforce a class system.

 DO YOU THINK THAT IN TERMS OF A BETTER WORLD, CANADIANS HAVE NOT ONLY AN OPPORTUNITY, BUT ALSO AN OBLIGATION TO TRY TO INFLUENCE ORGANIZATIONS LIKE THE UNITED NATIONS, THE WORLD BANK, THE IMF, AND THE INTERNATIONAL RED CROSS, AND BE MORE COMPETITIVE FOR THE KIND OF JOBS THAT ARE THERE SO THAT WE CAN BRING THE CANADIAN PERSPECTIVE TO THESE ORGANIZATIONS?

DJ. Absolutely. You know I think we look at the leadership of Lester Pearson, for example, who for good reason won a Nobel Peace Prize, not simply for the Suez intervention, but representing the best of those Canadian values, which embrace the kind of institutions you’ve just spoken about.

And we have traditionally played a disproportionately large role in those organizations and I think that is to the credit of Canada. I guess I would also say that you do that not simply to make the world a better place, but to make your country a better place.
One of the things that concerns me about our complacency is only three per cent of our university students study abroad on exchange or work abroad in a volunteer capacity or some other capacity. That should be a much, much higher per centage because it’s important for young Canadians to be global citizens.

ONE OF THE THINGS I KNOW YOU’RE VERY INTERESTED IN IS INNOVATION, AND CANADA’S ROLE, OR LACK OF IT SOMETIMES, IN BEING AN INNOVATIVE COUNTRY. WHEN YOU LOOK AT THE WORLD CHARTS ON INNOVATION, CANADA DOESN’T EVER SEEM TO MOVE UP. WHAT DO YOU THINK THE PROBLEM IS?

DJ. It troubles me because the smart and caring nation, of course, is an important theme that we’ve been pushing, and learning and innovation have been one of the three pillars for that—philanthropy and volunteerism being another—and Canada does not perform as well as it should in a number of the measures, including productivity. I worry about the complacency that we sometimes don’t work, or feel we have to work as hard on the smart part, that we don’t push that excellence button along with the equality of opportunity button. And, I think, the best way to do that is by exposing yourself to the world, whether it be in trade or in cultural pursuits, or whether it be in contribution to international relations. Let’s take on the world in trade, let’s take on the world culturally, let’s take on the world in our international aid being larger in quantity than it is at the present time, but also sharper and more qualitative.

We created a Governor General’s Innovation Award with about 45 networking partners, each of whom was interested in innovation and would recognize it to try and magnify their effect. Those awards have been going for two years now.

WHAT I’M HEARING FROM YOU, IS WE HAVE A GOOD COUNTRY, WE COULD MAKE IT BETTER, WE HAVE TO CONTINUE ALL THE QUALITIES THAT HAVE SERVED US WELL SO FAR. BUT, WE DO HAVE TO, IN AN INTERNATIONAL SENSE, BECOME MORE COMPETITIVE, UP OUR GAME, AND COMPARE OURSELVES WITH THE BEST IN WHATEVER FIELDS WE THINK WE CAN COMPETE IN.

DJ. I would add that, you know we’ve been blessed, we have not had a shot fired in anger on our soil for 200 years. We’ve been protected in this North American continent. We have learned how to interact with a somewhat challenging environment and have developed an affluence that is the envy of many people in the world. So, we have not had the natural stimulus to innovate that other countries have had. Many countries have had challenges externally, and in responding to them they’ve been very inventive and creative. We haven’t had those same challenges, so we have to impose the challenge on ourselves and be sure that we’re upping our game accordingly.

This interview has been edited for length.