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OTTAWA - The economies of Mexico, Brazil, Russia and even Indonesia will surpass Canada's in the coming years as emerging nations recreate the world's financial order, a PricewaterhouseCoopers report said Tuesday.
In the face of such global competition, "Canada's share of the global economy is projected to diminish," said Ed Mansfield, the head of PwC's economics practice in Canada.
"To maintain our competitive position, Canadian businesses will have to differentiate through innovation and technological progress. This will require greater investments in education and capital equipment to promote the productivity gains necessary for economic growth."
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