Commentary
Relations between Ottawa and Washington have soured, and the therapy suggestions arrived on schedule: look across the Atlantic. Europe, the argument goes, is a stable counterweight to an unpredictable America. The Economist even floated Canadian membership in the European Union.
The premise is appealing, but it mistakes Canada’s problem. No trading partner can compensate for an economy that has spent years producing too little from each hour of work.
At first glance, the size numbers flatter the idea. The European Union produces close to US$20 trillion a year, one of the largest blocs on Earth. If diversification is the goal, why not lash the canoe to another giant?…