Daniel Gross
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Nov 3, 2009 12:06 PM
In the past year, distance from the U.S. has proved a great insulator from economic pain. China and Australia, literally on the other side of the globe, are humming along, while Mexico is suffering from a decline in U.S. imports. But our NAFTA neighbor to the north, Canada, has emerged from the morass in better shape than any developed economy. Since its brief recession ended this summer, Canada has been creating jobs (31,000 in September). The Canadian dollar--the loonie--is soaring against our dollar. "There is a buzz in Canada right now, which is as far apart as you could ever be from what's happening south of the border," said David Rosenberg, chief economist of Toronto-based asset manager Gluskin Sheff.
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