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What Does Nortels Dissolution Mean for Canada?

Once bankrupt Nortel Networks is fully parted out, Research In Motion (RIMM) will, in essence, be Canada’s only remaining high-tech hope.

That’s the fear of some experts in Canada, at least.

The Wall Street Journal quotes a Liberal Party policy expert as saying lawmakers in the Great White North must invest in areas like technology “if we don’t want our standard of living to drop.”

Marc Garneau contends that because the majority of Canada’s wealth comes from natural resources and manufacturing, there’s a big risk in counting on those sectors to continue being able to support the country’s prosperity.

Nortel has sold its wireless division to Ericsson and its enterprise unit to Avaya. Both deals have received court approvals.


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