The world is in an economic crisis, but Canada is the worst.
The latest analysis of the world economy by the International Monetary Fund says that over the past 15 years, the country’s economy has shrunk by an average of 2.2 per cent a year.
The IMF said Canada is one of the top 10 countries that has suffered from the global economic crisis.
The top five countries with the largest declines were Australia (2.7 per cent), Japan (2 per of a cent), the United States (2 p.m.
ET) and China (2 a.m.).
Canada also ranked number six among the 10 most-populous countries, according to the IMF.
What’s behind the global slowdown?
A broad economic shift in the past few decades, the IMF said, has driven up global demand and hurt Canada’s ability to absorb the economic drag from falling commodity prices.
“Canada’s economic performance in the last decade has been one of relatively low growth, while its exports have grown rapidly relative to its imports, making it difficult for it to absorb some of the impacts of globalisation,” the report said.
While it’s difficult to say what effect the global downturn is having on the country, it does appear that the downturn is slowing economic growth.
The IMF said that the overall economic situation for Canada was worse in 2015 than it was in 2008, when it was the most-recovering of the 20 countries studied.
In its report, the International Finance Corporation, a group of private-sector and government experts, said that Canada’s economy had contracted by about 3 per cent annually between 2007 and 2015, and by more than 4 per cent between 2014 and 2015.
It said that over that time, it had seen its economy shrink by about 1.6 per cent.
That said, the economy has grown a lot faster than it did in the mid-2000s, said Robyn Hulsey, a professor of economics at the University of Ottawa and the author of a book on the crisis called The Global Economy and How It Affects Us All.
Hulsey noted that the U.S. economy has also been struggling, but it’s been relatively stable, compared with Canada.
We’re in a bit of a lull right now.
We’re not in the same phase as the United Kingdom.
There’s a lot of talk about the slowdown in China, but the IMF report says that it is the same as Canada.
The slowdown is the result of a combination of factors, including an aging population, a weak manufacturing sector, and a drop in the global price of energy, which in turn has led to a slowdown in global demand.
Why has the Canadian economy contracted the most?
Hudson said the decline in global commodity prices has also played a role.
He said that this decline in commodity prices was particularly strong in 2014 and early 2015.
According to the report, this decline led to “higher commodity prices for a number of commodity commodities and in the case of oil, for a lower price.”
The IMF says that while it’s too soon to attribute all of this to the global recession, the drop in global oil prices and the drop of the Canadian dollar have played a significant role.
Is the global economy now in recession?
It’s difficult for the IMF to say definitively because it relies on the government of Canada’s official statistics agency to track its economic data.
For the last five years, Statistics Canada has been publishing quarterly GDP reports that have shown a decline in Canada’s overall economy, which is one measure of economic activity.
But the IMF says this trend has not been uniform across Canada.
In recent years, a lot more of Canada has experienced the effects of the global financial crisis.
It notes that, during the recession, some of those countries that experienced the largest falls in GDP have been in Europe and Latin America, which have seen large falls in overall economic activity, but not as much as Canada has.
So what’s the future?
Canada’s economy is still growing.
But the IMF argues that it will take a while for the economy to recover.
Experts say that Canada will need to focus on the long-term prospects of its economy.
Some economists say that there is a good chance that the world is going to recover, but they also say that if Canada’s economic recovery falters, the world may be in for another economic crisis in the future.