1. COVID-19 prolonged
The COVID-19 pandemic has created unprecedented challenges for the global economy, pushing many countries including Canada into the red. Economic recovery will be dictated by the reopening of countries around the globe. The risk is the uncertain trajectory of the pandemic, including possible future waves of infection and no timeline for when a vaccine will become available. Canada’s higher trade-dependence makes us vulnerable to the virus’s spread and its impact on constraining or opening the spigot of international trade. This uncertainty makes it challenging for Canadian exporters and investors.