In your opening remarks, you talked about the circular economy. To the Chemistry Industry Association of Canada, that's very important.
You just referenced the generational investments. You can extend that not only to Dow's over $10-billion investment in Alberta, but also to what's happening within the auto sector. It's those generational investments. That's why it's so important to have your eye on the ball and provide leadership. That's what I believe our government is offering.
I want to move to Vivek. Welcome to the panel and our committee. I understand where you're coming from. I'm an economist by training as well. I love economics. I purport myself to be from the Hayek school, if I can say that.
I'm optimistic on Canada. I believe our country is one of the best, if not the best, for many reasons. However, there's always work to do. We don't inhabit this world alone. It's important to recognize that. I think there are millions if not hundreds of millions of people who would come here tomorrow morning if they could because we live in such a blessed country.
When I look at some of the economic metrics, I share your concern about productivity and ensuring that we have a good standard of living—that is, that my kids have a future just as bright as I had growing up. I believe they do. I can look at some of the quantitative metrics. Our deficit-to-GDP is at around 1% versus 7% in the United States, like some of the European countries. There's our debt-to-GDP, looking at that metric on the public side. There are our CPP assets and the way our pension system is funded versus how it's done in the United States. We could have a conversation on that.
There's always work to do. As I referenced earlier, $2 billion of investments were just announced on the west coast in B.C., with a $1.35-billion energy facility, plus the port of Prince Rupert expansion. Some really good things are happening here for the economy, and we can't just gloss over them, because they are great things. Canada is definitely not broken. We're definitely a work in progress, like any other country and any other person would be.
If you could substantively say, “Francesco, these are two or three things that I think you need to take a look at”, I'd love to hear from you on that. I read all the economists on the street. Many of them are my friends in academia and non-academia. I debate with some of them. I agree with some of them. I don't consider myself an ideologue, but I would love to hear what constructively you would have to say.