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Report * Canada - Must embrace China or risk falling behind
China's economy has nearly doubled since it joined the World Trade Organization just over five years ago and is now the World's leading importer of oil and raw materials like steel and metals...Toronto,ONT,CAN -Today's Trucking -23 Jan 2007: -- Canada can benefit from China's rapid emergence as an economic powerhouse, but must do a better job of forging a Sino-Canadian economic relationship, says Dr. Sherry Cooper, chief economist of BMO Capital Markets... In a report released today on the powerful shifting forces in China and the global economy, Cooper states China's re-emergence in the economic world has the potential of being an enormous boon to long-term Canadian growth and prosperity, but Canada's inability to adapt beyond U.S.-related trade is hurting us... "While China could soon become the most important trading partner of the U.S., we remain fixated on yesterday's strategy -- bolstering economic activity with the U.S. to the exclusion of almost all others," she wrote. "Rather, we should be diversifying our foreign markets and developing economic ties with Asia, the fastest-growing region in the world."... It's no secrete China is booming. But why is Canada so shy about getting a piece of the action? Dr. Cooper noted that the Canadian government's mission to China last week as a positive development, but added the country needs a more "comprehensive strategic approach to China as well."..
posted by Unknown @ 5:52 PM
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