Latest news with #economicstrength
Yahoo
8 hours ago
- Business
- Yahoo
Danielle Smith touts Alberta supremacy at Rotary International Convention in Calgary
Premier Danielle Smith welcomed thousands of Rotary International delegates to Calgary on Sunday, using the stage to tout Alberta's economic strength, energy ambitions and approach to addiction recovery. More than 15,000 Rotary members from more than 120 countries are expected to gather in Calgary this week for the Rotary International Convention, a five-day event that runs through Wednesday at Stampede Park. Speaking at the official opening ceremony at the Scotiabank Saddledome, Smith — a former Rotarian herself — described Alberta as 'Canada's economic engine,' pointing to the province's population growth, economic climate and natural resource wealth. 'I want to take this opportunity to do just a little bit of bragging about this beautiful province,' she said. 'That is one of the perks of my job. I get to be the lead cheerleader for my favorite place in the world.' Peace pole, House of Friendship and more: What to know about the Rotary International Convention in Calgary Rotary convention kicks off at Stampede Park with House of Friendship grand opening Smith cited recent Statistics Canada data showing that Alberta led the country in population growth during the first quarter of 2025, gaining more new residents than the rest of Canada combined. Between Jan. 1 and April 1, Alberta's population grew by 20,562, while four provinces and one territory saw population declines, including record quarterly losses in Ontario and British Columbia. Alberta also had the highest net gain from interprovincial migration during that time. Smith attributed the growth to economic opportunity and a 'welcoming and free society,' drawing people to the province. 'Alberta has drawn in people from near and far for a few very good reasons,' she said. 'Investors see our low corporate taxes, our skilled workforce, and our business-friendly climate as an increasingly attractive package and our tech sector is growing as a result.' Smith also highlighted her government's efforts to expand mental health and addiction services, referring to the so-called 'Alberta recovery model.' 'Since 2019, our government has added around 10,000 addiction treatment spaces, including detox treatment and long-term recovery spaces,' she said. 'We recognize that we have a lot more work to do, but the Alberta recovery model is showing early signs of success, and we're very proud of what we have accomplished so far.' Much of her speech focused on promoting Alberta's energy sector. Smith praised the province's level of oil and gas production — currently averaging about four million barrels a day — and said the government intends to double that output. 'Over the years this industry has delivered extraordinary prosperity to our province and to the rest of Canada, and Alberta is proud to be one of the world's foremost producers of oil and natural gas, and we are proud of what that energy means for the world.' Smith also noted industry efforts to move toward a lower-carbon future, citing net-zero commitments and the province's leadership in carbon capture and hydrogen production. 'If, as we know, the world will need more oil and gas for decades to come, then our trading partners might as well buy it from a supplier that cares about human rights, a supplier that protects the environment and reduces emissions even as it increases production,' she said. While Rotary International is not a political organization, the international convention comes at a time of global geopolitical tension. Rotary International president Stephanie Urchick also addressed the audience, emphasizing the organization's mission to build unity across borders. 'The world right now can feel divided, but Rotary brings together people from every corner of the globe, not to erase our differences, but to celebrate them,' she said. 'That's how we spread peace, because peace is more than the absence of conflict, it's the presence of understanding.' Rotary International is a global service organization that boasts more than a million volunteer members focused on community and humanitarian efforts. The convention is expected to pump $81 million into Calgary's economy.
Bloomberg
28-05-2025
- Business
- Bloomberg
China Calls on Asean, Gulf States to Create ‘Big Market'
Chinese Premier Li Qiang rallied a group of Southeast Asian and Gulf states to deepen cooperation and touted his country's economic strength, as Beijing ramps up its charm offensive abroad to counter US efforts to isolate the economy. 'We should firmly expand regional opening up and develop a big market,' Li said at a meeting with leaders from Southeast Asia and the Middle East in Kuala Lumpur on Tuesday. 'We should effectively manage differences in the spirit of mutual understanding.'
Forbes
07-05-2025
- Business
- Forbes
Worried About $918 Bil U.S. Trade Deficit? Worry About This Metric More
This metric is not found in deficit spreadsheets or debt charts. It's measured by one question: Will the next Nvidia or Amazon be born in America? Sure, the U.S. trade deficit widened to nearly $918 billion in 2024. The national debt? Over $36 trillion and rising. Yes - those numbers are staggering. And yes, they're worrying. But what if there's one metric even more important - more scary, if it starts to move in the wrong direction? And that is America's value creation potential! From Argentina to Greece to Japan - anyone can worry about costs, deficits, and debt. But the real question for America is far more existential: Will the next generation of revolutionary companies still choose to be born here? Catching market leading stocks at the right time in their expansion cycle is a subset of principles we apply while constructing the High Quality portfolio , which has outperformed the S&P and clocked >91% returns since inception. What Really Made America Rich We talk about debt ceilings and budget cuts as though they define our economic strength. But look at the scoreboard. Roughly 35% of the S&P 500's market cap comes from just seven companies: Apple, Microsoft, Nvidia, Amazon, Meta, Alphabet, and Tesla. These companies didn't just balance the books. They rewrote the rules: Apple turned design into a trillion-dollar economy - and built an entire supply chain along with it. turned design into a trillion-dollar economy - and built an entire supply chain along with it. Amazon built the infrastructure backbone for the digital economy through AWS. built the infrastructure backbone for the digital economy through AWS. Nvidia is powering the entire AI revolution. They created industries, birthed ecosystems, and set cultural norms that benefit various industries. These businesses impact and define all aspects of society and civilization - from education and academia, to policies and politics. Think of the role of Twitter/X and Meta and relevance to elections around the globe. They made deficits look irrelevant by comparison. Now think about this: The next Bezos, Gates, Jobs, and Musk - are they more excited or less about building their business in America than they were one year ago? That's the only question Trump and his administration, and all future leaders of this country, need to be thinking about. Why is that? It's simple: the work of these extraordinary doers and thinkers is what has defined American success in the last 50 years. The Trade Deficit: A Footnote to Value Let's take Apple. It manufactures much of its product line in China, contributing tens of billions to the U.S. trade deficit every year. But in doing so, it created over $500 billion in annual revenue, and nearly $3 trillion in market value. So ask yourself: Would you rather fix the $50 billion trade deficit Apple contributes - or ensure the next Apple is built here? Deficits are costs. Value creation is the return. And the U.S. has always led because it focused on the return. America's greatness doesn't come from protectionism or regulation. It comes from being the preferred launchpad for world-changing visionaries. Manufacturing Muscle ≠ Innovation Might Yes, we should bring some strategic manufacturing back. Chips. Ball bearings. Critical components. But let's not confuse building hardware with building the future. The scariest scenario isn't a few billion more in the trade deficit. It's this: That the next visionary doesn't choose America to build what's next. Because if we can't tell the dreamers from the demagogues, if we lose the edge in attracting top minds and empowering risk-takers - then we lose more than just dollars. We lose the ecosystems, the cultural influence, and the generational value creation that only America has delivered at scale. The Final Thought So yes, worry about the trade deficit. But worry much more if the metric that really matters - America's value creation potential - is trending downward. Because if we stop being the birthplace of the next Apple or Amazon, then no deficit fix, no tariff, no tax plan will be enough. We use this strategic thinking in constructing Trefis High Quality (HQ) Portfolio , which is designed to look past the irrelevant noise and pick winners based on hard metrics that really matter. With a collection of 30 stocks, it has a track record of comfortably outperforming the S&P 500 over the last 4-year period. Why is that? As a group, HQ Portfolio stocks provided better returns with less risk versus the benchmark index - less of a roller-coaster ride as evident in HQ Portfolio performance metrics .
