The impact of US elections on Canada might be long-lasting
The impact of US elections might be long-lasting for Canada. As the counts decide who will be the next POTUS, Canada looks eagerly to its neighbour. Whether it is another 4 years of Trump or a fresh start with Biden, the result can affect our country. Also, the result will influence immigration in North America for years to come.
A shallow perspective leads to consider that, if Trump edges the election, the US will keep losing the battle for global talent against Canada. Many also believe that Biden might restore the USA as the most attractive destination in the world. Yet, there are many flaws with this view. First of all, because Trump protectionism might serve the USA internal economy better in a number of sectors. Nonetheless, a Biden presidency would restore the strong partnership between the two countries, which Trump sought to undermine.
Whatever the final results may be, Canada still has many advantages over the USA in the long run. This stems from the math problem of the USA, which, with its 330 million in population, does not use immigration to replace workforce. The USA welcomed 0.3 per cent of its population as immigrants (about 1.1 million immigrants per year). On the opposite, Canada aims to welcome over 400.000 new immigrants in front of its 38 million population. This means that Canada welcomes over double the number of skilled workers in absolute terms. Moreover, it welcomes about twenty times more on a per capita basis.
The issue of the USA Green Card, exacerbated under the Trump administration, also continues to play a large role. Global talent keeps looking north as they pursue a stable, permanent residence in North America. All in all, in the past five years, skilled workers have steadily chosen Canada over the US. The uncertainty looming over the US, which will likely prioritise post-COVID recovery, will benefit Canada. Ultimately, Canada maintains an edge over its neighbour when it comes to future social and economic prospectives.