That term was coined by then-federal finance minister John Manley during the most recent Canadian boom, the likes of which most experts thought we wouldn't see again for many years after the devastating global economic meltdown of 2008-09.
Yet improbably, given continued Canadian export reliance on a weak U.S. economy, Canada is already on the mend. Canada has posted job gains in five of the past seven months. The loonie has soared to a 20-month high and is expected to break through its 2007 record of $1.10 (U.S.) this summer.
And in this next period of Canadian prosperity, there'll be no need for Canada-boosters such as Manley to tout Canada's favourable conditions to foreign investors.
Canada's attractive record in job creation, GDP growth and comparative fiscal strength is well known to foreign institutional investors and central banks, which have been snapping up the loonie, federal and provincial bonds and Canadian corporate debt securities.