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Pacific Rim Trade Deal Takes Effect

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) came into effect after being renegotiated due to the United States’ withdrawal from the deal in 2016. The free trade deal is expected to add $4.2 billion per year to Canada’s GDP and increase Canada’s annual exports to Japan by $1.8 billion. It is expected to be especially beneficial to Canada’s pork, beef and sugar industries, while Canada’s dairy and steel industries have been critical of the pact.

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Growth in Canada’s Clean Energy Sector Outpacing Rest of Economy, Study Finds

A study conducted by Clean Energy Canada, a think tank at Simon Fraser University, found that the clean energy sector represented about 3 per cent of Canada’s GDP in 2017. Between 2010 and 2017, it grew at a rate of around 5 per cent annually, compared to 3.6 per cent growth in the overall economy. The number of jobs in the sector increased by 2.2 per cent per year from 2010 to 2017, compared to 1.4 per cent for total jobs in Canada.

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Canada and the Digital Economy

The digital economy is the economic activity conducted through digital technologies such as the Internet. It is also called the Internet economy, the new economy or the web economy. Many scholars see the digital economy as the fourth industrial revolution. As of 2013, it consumed approximately 10 per cent of the world’s electricity. Many of the world’s biggest companies operate in the digital economy. A growing number of Canadians depend on it for their livelihood. In 2017, nearly 5 per cent of all jobs in Canada were in the digital economy. The gross domestic product (GDP) connected to it represented 5.5 per cent of Canada’s total economy — a bigger percentage than mining or oil and gas extraction. However, the often-hidden infrastructure of the digital economy brings new threats to the environment. The rise of cryptocurrencies could also dramatically change how people buy and sell things.