Published on Brock University (http://www.brocku.ca)
Look in your wallet or purse and you can see Paul Jenkins’ signature on Canadian bank notes printed since 2003.
But on Nov 4 you could see Jenkins himself — recently retired as Senior Deputy Governor of the Bank of Canada — back in his native St. Catharines, chatting about topics ranging from potash sales to Canada’s recovery from the Great Recession and fiscal implications of the recent US elections.
The occasion was a casual social event at the Quality Inn Parkway Convention Centre,
organized by the Brock Business Alumni Network (B-BAN) and attended by about 60 people, including members of the local business community.
Jenkins — who attended Sir Winston Churchill Secondary School in the 1960s before going on to become one of Canada’s most informed economists — delivered some brief remarks, answered questions and shared his thoughts on the country’s economic past and the road it must take into the future.
He said a key reason Canada fared better than Britain or the U.S. in the recent recession is the fact Canada’s regulated banks are held to higher standards of stability and quality than in many other countries. As the global economy continues a modest recovery, the new economic order will see more robust growth in emerging economies.
But he said opportunities await Canada, and particularly regions like Niagara, if they are innovative, for instance by diversifying economies to identify and generate services and products that add value to what’s already being produced less expensively elsewhere.
Doing that, Jenkins said, requires attracting and retaining the best and brightest people,
and developing technologies that can transform traditional economies.
“Think globally while acting locally,” he said. “We must develop partnerships and invest in enhancing our productivity through technology.”