>generally believed to be

Generally believed by orthodox economics whose credibility is not so hot. CUSFTA, NFTA, USMCA... there was brief decade in 90s with CUSFTA integration where rising water lift all boats, but realistically Canadian growth in 00s was on the back of commodity supercyclic and inflated real estate. In real life the winner takes home $10000 cheque, the second/third winners take home participation ribbons, and sometimes they come home battered and bloodied (US buyouts in highend because CAN champions lack of scale never could compete once barriers gone ). In real life the lesser winner still has to look at opportunity cost of playing the game in the first place. Was there a more profitable game where runners up get $5000? Which is not to say participation trophy was not the optimal play, i.e. the opportunity cost of not joining common industrial base might have been more detrimental, maybe global capital wouldn't enter Canada in first place, maybe not playing = atrophy at home. But surviving + participation prize winner not the same as a take cheque home winner.