Uncertainty from the US election and a rise in anti-trade rhetoric were cited as reasons for the slow export growth, reduced business investments and increased inflation we can expect for Canada in 2017, according to Smith School of Business experts.

Evan Dudley (Finance) made his predictions for the 2017 Canadian economy at the annual Queen’s Smith Business Forecast Luncheon held last week in Kingston.

“It’s not just Donald Trump and the challenges ahead for Canada-US relations that should concern us,” Dr. Dudley says. “The world is shifting towards greater protectionism – in the last six months alone, 145 new trade restrictions were imposed globally.”

Slow export growth, reduced business investments, and trade uncertainty will constrain output for Canada, he says. The coming year may see marginal growth in Canada’s real GDP, up 1.75 per cent from 1.40 per cent in 2016.  As well, persistent low oil prices and the difference in monetary policies between the U.S. and Canada will keep the value of the loonie down, with the Canada/US exchange rate holding at $0.75 USD, Dr. Dudley predicted.

Trade restrictions and expansionary fiscal policy on both sides of the border will push prices higher in the near term, with inflation expected to rise to 1.75 per cent from 1.5 per cent in 2016. The Canadian unemployment rate will remain around 7 per cent due to uncertainty about US economic policies under the Trump administration and low business spending in Canada.

Dr. Dudley’s forecast was not all doom and gloom, however, with strong growth projected for Kingston’s local economy.

The event closed with a panel discussion on “Creating the Conditions for Local Economic Growth,” moderated by the Smith School of Business’ Ken Wong (Marketing). Panel members included Mayor Bryan Paterson and Councillor Laura Turner.

Wong emphasized the need to “broaden the tax base, foster more population growth, and, most of all, increase private sector investment.” Ms. Turner spoke to the city’s strengths as a tourist destination, noting the benefits of the low Canadian dollar in attracting US visitors.

Mayor Paterson said “2016 has been a great year” for Kingston, citing recent multi-million dollar investments in the city from Feihe International, a China-based manufacturer of infant formula, and Portuguese food processor Frulact Group. The goal, the mayor explained, is “branding Kingston as a city of entrepreneurship and innovation and working together to grow the city.”

Dr. Dudley shared the mayor’s optimism for Kingston looking forward, citing two expansion projects – Providence Care ($300 million) and the municipal airport ($16 million) – and the new Dunin-Deshpande Innovation Centre at Queen’s, as initiatives that will help spark growth in the city.

In addition to the forecast and panel discussion, attendees were treated to a non-traditional take on investment strategy from Blair Robertson (Finance) and a brief history of the forecast luncheon from the event’s founder Merv Daub, the Smith professor emeritus who established the luncheon 35 years ago to forge a connection between the school and the greater Kingston business community.

Queen's University is required each year to conduct a waste audit and thanks to a new partnership, the task this year has been turned into an experiential learning opportunity for students.

Through the audit, a legislated operational activity required by the Ministry of the Environment, the university is able to calculate the annual waste diversion rate. A total of 44 students from ENSC290 and COMM408 courses volunteered to sort waste and write an essay on their experience in exchange for extra credit.

The audit was conducted from Oct. 4-7 and involved 32 buildings on campus. This year the Sustainability Office and Physical Plant Services partnered with Steven Moore, a Continuing Adjunct with the Smith School of Business who has developed and teaches two sustainability courses, to offer students an experiential learning opportunity by taking part in the waste audit.

As Moore explains, this was hands-on work as the students were required to sort the waste into different streams, weigh the material type and record the data.

While the program offered an experiential learning opportunity, it also opened a lot of eyes among the students.

“The word ‘shocked’ appears a number of times in their comments,” Moore says, pointing to the essays submitted by the participants following the audit. “They only took one day’s waste from each building and I think they were really surprised at how much waste there was and how much was not really waste, including gym shoes, pyjama bottoms, tights and phone cords. I think they were also surprised by how much (of the waste) was perfectly good food in unopened packages – and how much of the waste should have been recycled but wasn’t.”

The final report from the waste audit will be released by the end of the year.

While the program provided a new experience for the students it also will help the university track the effectiveness of its waste diversion programs.  Last year the campus achieved a waste diversion rate of 47 per cent.

“This activity allows us to determine the composition of the waste stream, identify contamination issues and understand the level of participation in the recycling program on campus by user groups. The students assisted with these activities under the direction of GFL Environmental and our office,” says Llynwen Osborne, Recycling Coordinator for the Sustainability Office. “The Sustainability Office was really excited to have so many students participate in auditing the campus waste stream.”

Moore says that the majority of the students took some time to get used to handling the materials, but all were very engaged in the activity and walked away with new insights into the amount of waste that is being tossed away.

“I think it will stick with them,” he says. “I don't think any of them will forget it.”

Waste Reduction Week is marked from Oct. 17-21

To learn more about the Sustainability Office and its initiatives and programs, visit the Queen’s Sustainability website.

Flags on campus have been lowered for Professor David Bonham who passed away at home on Sunday, Sept. 11.

Professor Bonham was cross-appointed to the Faculty of Law and the School of Business during his 30 years at the university and also served as Vice-Principal (Finance) from 1971-77 and then Vice-Principal (Resources) from 1984-88.

After his retirement from the university, he became a founding member of the Retirees’ Association of Queen’s and was chair of its Pension Committee.

Professor Bonham was also well known within the Kingston community and from 1978 to 2009 was a partner, then counsel, with Cunningham Swan Carty Little and Bonham. He also devoted much time to charitable and volunteer organizations including as Chair of the Anna and Edward C. Churchill Foundation, Vice-Chair of Hospice Kingston, sat on the Board of Directors of University Hospitals Kingston Foundation, and the Board of Hotel Dieu Hospital.

Professor Bonham received both the Padre Laverty and the John Orr awards from Queen’s and most recently received the Distinguished Service Award in 2015.

Visitation will be held at James Reid Funeral Home on John Counter Boulevard, between 2 and 4 p.m. and 7 and 9 p.m. on Friday, Sept. 16. His funeral will be held at St. George's Cathedral in Kingston at 11 am Saturday, Sept.  17.

More information is available online.