Repositioning Canada’s Economy

Sommaire exécutif

Alors que les tensions commerciales mondiales redéfinissent les règles du jeu, le Canada et le Québec doivent revoir leur positionnement économique. Ce billet propose six axes d’action pour bâtir une économie plus résiliente, innovante et durable, accompagnés de perspectives concrètes pour les entreprises qui souhaitent transformer ces bouleversements en leviers stratégiques.

As the Trump administration reignites a new era of global trade wars — marked by protectionist policies, weakened multilateral institutions, and growing geopolitical tensions — Canada must urgently rethink its global economic positioning.

For too long, we’ve fallen into a comfort zone, overleveraging our relationship with our main economic partner: the United States. Geographic proximity and cultural familiarity made this relationship economically beneficial — but also dangerously one-sided. Just like any business, relying on a single client is not a sustainable model. It’s a strategic vulnerability we can no longer afford to ignore.

This instability also presents a unique opportunity to rethink our growth model.

At Convenio, we work with organizations that want to transform uncertainty into long-term performance. Here’s our strategic outlook, enhanced with practical insights for businesses seeking to turn this global shift into a competitive advantage.

Reducing Overdependence on the U.S.

With nearly 75% of Canadian exports going to the U.S., our economy remains dangerously reliant on one trading partner — especially as trade rules are increasingly dictated by unilateral decisions.

Canada must accelerate its trade diversification strategy by:
- Strengthening ties with the EU through CETA.
- Capitalizing on the CPTPP in the Asia-Pacific.
- Expanding into growth markets in Africa, Latin America, and India.

Practical insights for businesses

Exporting companies have much to gain by diversifying their markets:

Identify untapped, high-potential regions.
Tailor your offerings to local cultural contexts.
Forge strategic partnerships on the ground.

💡 Tip: Even if you’re not yet exporting, embed international development in your strategic roadmap.

Rebuilding Economic Sovereignty in Strategic Sectors

COVID-19 and geopolitical tensions exposed the fragility of global supply chains. Canada must reclaim control in key areas: medical tech, semiconductors, agri-food processing, and green energy.

This requires :
- A targeted industrial policy.
- Investment incentives.
- Strong collaboration between government, academia, and business.
Practical insights for businesses
Local supply chains are becoming a competitive advantage:
- Reassess your dependencies on foreign suppliers.
- Explore reshoring or co-development opportunities.
- Leverage government programs for modernization.
💡 Tip: Think in terms of ecosystems — integrate into a local or regional value chain.

Making Innovation a Core Resilience Driver

Canada has a strong innovation ecosystem. But to make it a real economic engine, we must accelerate technology adoption across all industries.

This means:
- Ambitious public support for R&D.
- Integrating AI, automation, and analytics into everyday operations.
- Building an internal culture of experimentation.
Practical insights for businesses
Every business can innovate:
- Automate repetitive or complex processes.
- Launch pilot projects with startups or research centers.
- Create innovation governance: budget, KPIs, short cycles.
💡 Tip: Innovation is not a cost — it’s a strategic investment.

Embracing a Green and Inclusive Economy

Canada and Quebec have strategic natural advantages for low-carbon leadership: abundant hydroelectricity, critical minerals, vast forests, and technical expertise.

Success depends on:
- A clear green industrial strategy.
- Financial and technical support for transitioning businesses.
- Policy alignment across economic and environmental priorities.
Practical insights for businesses
The green transition is a brand and talent differentiator:
- Cut your carbon footprint and communicate your results.
- Tap into green funding and procurement channels.
- Attract value-driven talent.
💡 Tip: Start by measuring your impact — what you don’t measure, you can’t improve.

Regaining Control Over Our Data and Its Value

Global platforms increasingly capture value generated locally — without redistribution. Cultural, tourist, and commercial behavior data must remain in the hands of those who generate it.

That’s why Convenio proposed a collective vision to key players in Quebec’s cultural, tourism and entertainment sectors: SphèreQuébec.
Currently in a stakeholder engagement phase, the initiative aims to create a neutral and ethical behavioral data sharing infrastructure to:
- Better understand audiences.
- Personalize communications.Optimize media investments.
- Shifting away from our dependency on GAFAM and reclaiming digital sovereignty
Practical insights for businesses
Controlling your data is controlling your growth:
- Build first-party data assets (CRM, web behavior, purchase history).
- Reduce reliance on major advertising platforms.
- Engage in local data-sharing ecosystems like SphèreQuébec.
💡 Tip: Treat your data as a strategic asset, not a marketing byproduct.

Redefining Our Role in Global Economic Diplomacy

In an age of nationalism and economic fragmentation, Canada can be a global voice for ethical, collaborative, and rules-based trade.

This means:
- Strengthening our presence in emerging markets.
- Reclaiming influence in multilateral arenas.
- Encouraging progressive business alliances.
Practical insights for businesses
Even SMEs can contribute to economic diplomacy:
- Join trade missions and global industry networks.
- Promote a strong, values-driven brand abroad.
- Collaborate with institutions to advance Canada’s international voice.
💡 Tip: Your business is a window into Quebec — protect your reputation.

Conclusion: Bold, Responsible Action Starts Now

In a rapidly shifting world, Canada and Quebec must move beyond defensive strategies. We need a bold, forward-looking economic playbook rooted in innovation, sovereignty, sustainability, and digital fairness.

At Convenio, we believe that the most transformative advances won’t come from global tech giants — they will come from local ecosystems that are agile, ethical, and deeply collaborative.

Visions like SphèreQuébec show what’s possible when we work together to create solutions that are concrete, collective, and locally anchored.