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A new report indicates that the decision to construct four new BC Ferries vessels in China has resulted in a loss of approximately $1.5 billion in gross domestic product (GDP) for Canada. The analysis suggests that the move also represents the loss of 10,000 person-years of employment that could have been generated domestically.
The findings highlight the economic impact of outsourcing shipbuilding projects that could otherwise be completed within the country. The report quantifies the potential domestic economic benefits that were foregone by opting for international construction for the ferry fleet expansion.
Article and image source: grandforksgazette.ca
