Tag Archives: Economy

20 years later, Hibernia really changed us (and not entirely for the better)

John Gushue – A little more than 20 years ago, I was working on a CBC Television documentary series called East of Canada, which had the aim of covering 500 years of history in Newfoundland and Labrador. It was an ambitious undertaking, even with five one-hour episodes (and, believe me, there are not a whole lot of pictures to describe most of those years). In the spring of 1997, toward the end of production, there was an event that seemed perfect for visual contrast of where the place had been and where it might be going: the towout of the Hibernia platform. We had been chronicling the upheavals of history, the rise and fall of the codfish, the aspirations and dashed dreams of a place that never quite found its economic footing. click here to read the story 16:11

Caught In Alaska, Processed In China: Does Trump Make A Good Point?

When Donald J. Trump announced his candidacy in 2015 he created quite a stir with many of his statements. He spoke a great deal about securing borders, fixing the economy and especially the effects of China on the United States. Regardless of whether you agree with his plans and ideas of how to tackle these issues, you have to agree that these issues really do exist, especially the influence of China. The financial power of China overpowers not only American consumer good production, but also greatly affects the competitive of US fisheries. One of the major secrets to China’s fiscal strength is its over-abundance of very cheap labor. There is such a difference in labor between the US and China that it has greatly changed the way the US seafood industry works. Previously it was ideal to catch the fish in Alaska, fully process it in Alaska (i.e. filleting), and then ship it down to the mainland US where it would be consumed. Today it is just as common to catch the fish in Alaska, freeze it, ship it to China, process the seafood there, and then ship it to the mainland US for sale. This difference makes seafood producers millions of extra profits every year.  This is common for all sorts of Alaskan seafood, including Alaskan Pollock, Pacific Cod, and especially Salmon. Read the article here 18:13

Newfoundland and Labrador Economy: Fishing on Solid Ground

cod-fishAmidst the recent volatility of oil and mineral production, the fishery has been a steadfast economic driver for Newfoundland and Labrador, particularly in rural areas. Many thought that the collapse of key groundfish stocks in the early 1990s was the death knell for rural Newfound- land and Labrador. Now, two decades later, even a trade as ancient as the fishery is showing that it’s capable of change in modern markets. “We fished mainly cod back then, but when the moratorium came on,,, Read the rest here 17:37