James Alexander Michie: Canada can work on trade with China | MacLeans

Canada China James Alexander Michie

How Canada can work on trade with China—without angering America

Author: James Alexander Michie

In July of this same year, Trudeau expressed the desire to end the excessive dependence of the United States at the time he made a change in the title of the Minister of International Trade to the Diversification of International Trade. It was already well known that for a long time Canadian governments have aimed to expand export markets and likewise policies are needed to unleash the title of the minister which is established as a strong sign of a nation whose promise He has always overcome progress in such matters.

It is said that now the diversification has had a transformation and is that it has gone from being a buzzword to a basic need in terms of the economy established especially in Canada’s trade.

Likewise, the Canadian government should take action and in the same way should diversify its economy, where the most logical thing is for China to establish itself as the most obvious objective, but we must not forget everything that has been happening around the world and therefore Such an association would bring certain risks.

However, it is transformed as a diversification strategy that does not include the second largest economy in the world and the largest buyer of a significant part of what Canada, China produces, which challenges both logic and mathematics and calculations.

It is important to mention that China is a protagonist in the participation of global growth, thus being greater than that of Europe and the Americas combined. The new Comprehensive Economic and Trade Agreement and the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership are positive steps, but the scale and continued growth of China make it the unavoidable centerpiece of any credible diversification effort. Without China, Canada is bound to fail in the true diversification of its economy.

It should be noted that if the obvious differences in terms of size, democratic rights and free markets between Canada and China are obvious, in spite of this, both nations share many mutual interests, including as defenders of the Paris Agreement on climate change. Similarly, the Consultative Forum has identified almost a dozen sectors of initial interest, from forest products to wealth management and engineering services to education.

Take a read: https://www.macleans.ca/opinion/how-canada-can-work-on-trade-with-china-without-angering-america/

Source: Edward Greenspon and Kevin Lynch | MacLeans

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