Is the Canadian Economy doomed due to its reliance on resources and it service sector?

Question

well i guess i did not model the question better .here is wat i want add to question the canadian is heavily invested in these areas but it seems not promote technological inovation thus casuing brain drain or inefficient use of its educated population thus forcing them to dead end jobs

Answer 1

Why would you even ask that about the services sector? Services are what all people need when they get beyond the basic point of worrying about starving to death. All developed economies are dominated by the services sector, moreover it's not affected by random changes in commodities prices or by recessions in other countries.

Reliances on resources is more problematic, because it can cause pain if commodities prices fall (and they probably will, they've been too high). But I wouldn't exactly worry about "doom".

Answer 2

No, the world depends on Canadian natural resources, as much
as Canada depends on them for a market to supply them. It's a two
way street. If there wasn't demand for their resources, Canada, or
any other country, for that matter, would be able to sell their resources outside of their home market. The Canadian economy is
diversified and strong enough to rely on other areas too. All world
economies need natural resources to some degree, som more than others, the same applies for the service sector.