A balance sheet is a good snapshot of a business, but it’s only a snapshot. Regardless of industry, we are not out of the woods yet.nnAt the recent World Economic Forum in Davos, the front running risks facing the world today remain a potential collapse of real and financial asset and a sudden reduction in China’s growth (also fueled by easy credit).nnhttp://www.weforum.org/documents/riskbrowser2010/risks/#/4nhttp://www.bloomberg.com/apps/news?pid=20601068&sid=avNQKi0a_h1UnnShould such risks materialise, efforts and attention will further emphasize domestic issues and sovereign debt. Should that happen, one of the hot issues that will impact Canadians and people around the world will be protectionism – the hot debate in Davos last year.nnThere has already been much media attention on the subject. The Canadian Embassy in Washington has taken this seriously and made efforts to explain what this means to Ontarians and Canadians.nnhttp://www.canadainternational.gc.ca/sell2usgov-vendreaugouvusa/procurement-marches/buyamerica.aspx?lang=engnnHere’s the latest from Globe & Mail, if Ontarians want to bid on US contracts, the province must open its own market to outside governments, both foreign and domestic on its provincial contracts. Should all 10 provinces sign the WTO procurement agreement, it will limit their ability to favour local businesses when awarding contracts. Early reports expect the provinces to agree. The agreement will also unblock a major obstacle to a proposed trade agreement between Canada and the European Union. We will know more in the coming weeks.nnhttp://www.theglobeandmail.com/news/world/as-us-eases-protectionism-canada-moves-a-step-closer-to-economic-union/article1457100/

A balance sheet is a good snapshot of a business, but it's only a snapshot. Regardless of the industry, companies should look hard at their cash flow statement so their runway pave as far as possible into the horizon.When I look to the horizon and think about the future of our economy, Ontarians and their government will face hard decisions in the coming months.The fact is we are still in a recession. At the recent World Economic Forum in Davos, the front running risks facing the world today remain a potential collapse of real and financial asset and a sudden reduction in China's growth.http://www.weforum.org/documents/riskbrowser201…Should such risks materialise, efforts and attention will further emphasize domestic issues and sovereign debt. Should that happen, one of the hot issues that will impact Canadians and people around the world will be protectionism.There has already been much media attention on the subject. The Canadian Embassy in Washington has taken this seriously and made efforts to explain what this means to Ontarians and Canadians.http://www.canadainternational.gc.ca/sell2usgov…Here's the latest from Globe & Mail, if Ontarians want to bid on US contracts, the province must open its own market to outside governments, both foreign and domestic on its provincial contracts. Should all 10 provinces have reportedly agreed to sign the WTO procurement agreement, which limits their ability to favour local businesses when awarding contracts.The agreement will also unblock a major obstacle to a proposed trade agreement between Canada and the European Union.This is one floodgate to watch, and one not money alone could solve.