Thank you, Mr. Chair. Thank you, Governor.
I want to go back to what Mr. Hoback said. He talked about the importance, for Canadian businesses, of being able to gain a foothold in emerging markets. Based on what I can see, we are facing a parallel problem that is almost as serious, meaning weak productivity. Over the past 10 or 12 years, Canada has been trailing the pack in terms of productivity.
Do you feel that the lagging productivity and weak growth we see not only in the United States, but also in all OECD countries, could be an obstacle that would make us look like non-contenders compared to our economic rivals?