Final answer:
Canada's competitive edge in the global market and management of technological change largely depends on government support for technology investments, innovation encouragement, and human capital enhancement.
Step-by-step explanation:
The recent federal government report suggests that Canada's ability to remain globally competitive and manage technological change is highly contingent on proactive and strategic government involvement in supporting investments in new technology. This includes crafting policies that encourage innovation, investing in human capital, and managing the evolution of sectors such as Information and Communication Technology (ICT), which are prone to create both opportunities and challenges. Considering the significant presence of service sector in the economy, representing over 60 percent of the GDP, and with manufacturing industries reflecting strong ties to international markets, the need for technological adoption and skill development is critical.
Moreover, the government plays a crucial role in encouraging research and technology, addressing market failures to provide certain goods efficiently, and managing positive externalities associated with new technologies. The pursuit of applicable technology through educational exchanges and the support for innovative companies to build production facilities also underscores the importance of government intervention. Policies aimed at stimulating the growth of 'megafirms' such as Amazon and Apple highlight the complex dynamics between governments, corporations, and the broader societal impact of ICT.