The canadian government is working on a project to help their largest customer, the good old USA. The idea is to offer american retailers and manufacturers the possibility to buy canadian made products and get 6 months to pay their bills.
It is a private initiative... that started in Atlanta and it is a partnership between one of the largest logistic company, a large american bank and a dutch credit insurance company. This partnership will allow the exporters to be paid in 3 days and the american customers to have 6 months to pay their bills.
I know this program well.... we designed and are implementing it. The first market is the province of Quebec, which has a population equivalent to the state of Virginia and the forecast is the creation of 43,000 jobs for that province. The canadian government will make it available to all canadian buyers as par of the stimulus package therefore creating another 40,000 jobs.
This application could be done here as the program already exist and would need to be tweeked to a minimum by Exim Bank and the SBA and let the private sector execute.
The cost of this program is affordable to the US government... it is FREE. We make our money based on results... If a province the size of Virginia is creating 83,000 jobs, it would equate to roughly 3,500,000 new US jobs coming mostly from small and medium size business. President Obama, here is part of your stimulus package...
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