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, ON, Canada
Source: The Canadian Press
Length: 20 seconds

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

Clip ID: 19980729CPCN001