The Globe and Mail reports in its Thursday edition that in the world of public markets, Canada is increasingly becoming a stepping stone for companies eyeing better opportunities abroad. The Globe's Jameson Berkow writes that this week, Barrick became the latest Canadian business to spurn the Toronto Stock Exchange in favour of New York for its coming North American spinoff. Having a primary listing in the United States and only a secondary listing in Canada increases the likelihood of Barrick accessing major American indexes such as the S&P 500, which would expose the company to a broader swath of institutional investors. Barrick is far from the first to treat its TSX listing as a layover stop on a flight path to faster growth and it will not be the last. As Canadian capital markets are gradually relegated to second-class status, experts warn the country faces a mounting economic fallout. Barrick's decision is part of a pattern Laura Paglia has been watching unfold for years. "What you see in the move from Barrick is it is eroding Canada or Toronto's pull as the global hub," said Ms. Paglia at think tank Canadian Forum for Financial Markets. "If the TSX is not the anchor listing, the ecosystem will go with it."