The Globe And Mailยท2025-11-02 19:29Economic Outlook - The Bank of Canada has cut its policy rate from 2.50% to 2.25%, indicating that further cuts are unlikely as they do not address the underlying productivity issues in the economy [4] - Canada's economy is undergoing "structural changes," leading to concerns that it may become less competitive compared to the U.S. [4] Digital Economy - Canada's digital economy generates over $100 billion annually, but 87% of innovation is foreign-owned, highlighting a lack of Canadian-controlled venture funding for research and development [7] - In 2025, U.S. startups raised $91.5 billion in venture funding, while Canada only generated $920 million, with 80% of that being U.S.-controlled [8] Government Initiatives - Ucore Rare Metals Inc. received $18 million from the Pentagon to build a commercial plant in Louisiana, with shares increasing by 700% [9] - The U.S. government is actively partnering with private enterprises, such as JPMorgan's $1.5 trillion strategic-industries investment fund, to enhance growth and innovation [10] Critical Minerals - Canada is competing against U.S. initiatives that secure tangible commitments for critical minerals, while Ottawa is focused on long-term international agreements [11] - Canada plans to lead a new G7 critical-minerals pact to stabilize markets and combat China's dominance in this sector [12] Infrastructure Development - Ontario's Premier signed a partnership with the Webequie First Nation for a critical-mineral supply road, which is expected to generate 70,000 jobs and add $22 billion to the economy [13][14] - Delays in road construction due to federal reviews could hinder the development of critical minerals in Canada [14]