The Canadian economy weathered the Great Recession of 2008-09 better than its peers owing to a long period of robust profitability and capital accumulation preceding the crisis.Since 2014，however，business profitability has declined and corporate debt levels have risen，despite growing corporate cash hoards.Households，too，have experienced growing debts.These trends pose an increasing risk to the country's financial system and broader economy.The epicenter of this instability is the oil and gas sector.The global slump and the oversupply of fossil fuels occasioned falling oil prices and these have impacted negatively the profitability of the oil industry.The result has been sluggish economic growth.In light of this，the Canadian state under the Trudeau administration has intensified its efforts to get crude oil to market.It has also pursued multilateral engagements with the international community to boost economic growth，which included the signing of the Comprehensive Economic and Trade Agreement with the EU and by announcing its intention to join the Asian Infrastructure Investment Bank.At the same time，the Trudeau government is committed to increasing infrastructure spending domestically，following election promises.The Bank of Canada，too，has kept interest rates low to stoke economic activity.In the context of slow growth and cheap money，however，there is a growing risk of a housing market bubble.The federal government has attempted to offset this risk by tightening mortgage lending rules.For all of the above reasons，the future of the Canadian economy is uncertain in spite of the attempts of the Trudeau administration.