Flaherty Says U.S. Recovery, Not Dollar, Is Big Risk
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Canadian Finance Minister Jim Flaherty said weak U.S. growth, not his country’s strengthening currency, is the biggest threat to Canada’s economic recovery.
Flaherty, the dean of Group of Seven finance ministers, oversees an economy that Pacific Investment Management Co. calls a battleground between the “old normal” and “new normal” forces of the global economy. While Canada’s resources are fueling an investment boom, slumping exports to the U.S. hinder its recovery. Canada’s growth slowed to a 1 percent pace in the third quarter.