The Canadian Press

1998-07-29 | Dollar Report

Preview Clip

In late July, the Canadian dollar came under heavy downward pressure as investors put their money elsewhere. Nesbitt Burns chief economist Sherry Cooper said it was a big mistake for Prime Minister Chretien to shrug off the dropping dollar. She said his comment that a low loonie is good for tourism and exports flies in the face of reality.

Date: 1998-07-29
Placeline: TORONTO, Ontario.
Source: The Canadian Press
Length: 20 seconds

Transcript Prediction: << the fact is that tourism is only 1% of GDP and I see no fundamental reason why consumers should be subsidizing exporters we do import almost as much as we export in this country in fact 94% is much so our living standards are falling it is the equivalent of a national pay cut >>