3 ways Canada and China can reset their relationship in a new world of trade
Prime Mark Carney is in South Africa for the G20 Summit this weekend, a meeting allegedly the defeat of the world’s largest economy. It is the latest in a series of moves by US president Donald Trump that show the world order is changing rapidly.
But as Canada begins to change its relations with other countries between an unorganized and unreliable relationship with the US, its pivot towards China, in particular, will have to be strategic – the work must be done while strengthening the country and strengthening the country from within.
Carney has already begun to lay the groundwork, as seen in his previous meeting with chinse President XI JinIn at the Asia-Pacific Economic Searn summit at the Asia-Pacific Economic Searture summit in South Korea, calling for “long-term” and “exchange in the relationship.”
However, coming late to the table with China does not mean that all opportunity is lost. In fact, as Carney puts it, the goal is to be ambitious Passive US shipping ENDS to double in next decadethere are gains to be made.
Diversification, increasing trade
Indeed, there is room for growth. While China is Canada’s second largest trading partner after the US, With Canadian Exports there estimated at $30 billion by 2024it still represents only five percent of Canada’s exports. Compare that to 75 percent of Exports south of the border.
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Some analysts say the first step toward diversification and expansion with China is ending a trade war between the two countries. That can include Canada is eliminating its 100 percent tax in China’s electric cars – something The Federal Government has now reviewed.
Currently, China has it Prices onen canadian canola, seafood and pork. TThe Canada China Business Council (CCBC) estimates the impact to be in the millions.
Months, Industry voices and experts said the trade war made little sense as US-Canada relations are famous.
“If it was so easy for our canola farmers to take other markets, they would have done it,” said Greg Chin, a political science professor at York University in Toronto.
He says there are other opportunities to increase trade, especially in natural resources and agricultural products, including timber, pork and beef.
Production, research and development opportunities
Ties that strengthen are not limited to trading in goods, but can be extended to research and development, manufacturing and service sectors. This is especially important As China has become a leading technology power.
In Canada to catch up, some argue that it is better to work with China instead of trying to compete in vain.
“We have to look out for our own interests,” said Colin Robertson, ex President and fellow and brother of Canada’s Global Affairest Institute.
Robertson encourages a possible partnership in the Electric battery and electric vehicle production, should Canada decide to drop those 100 percent tariffs on Chinese EVs.
While some politicians, like Ontario Prime Minister Doug Ford, Chinese car subsidies will be maintained in the Canadian market To protect the state’s auto sector, said Robertson, he wants allies to say that China may be the only way to save the country. The US outbreak.
Since Canada is focused on building a whole country To strengthen its economy after Trump’s tariffs, as a great guide Projects include the mining sectorthere are opportunities for cooperation in research and development, especially since China has a monopoly on pot and critical mineral processing.
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In its fourth planet, The Communist Party has unveiled its latest five-year plancontinuing to focus on China’s green transition. Meanwhile, Canada’s climate council is failing to meet its outgoing 2030 target, So there would be opportunities to spend money on Chinese – cheap and clean energy sources.
The group is also focused on accelerating the release of its reliability through technology, including artificial intelligence.
For chin, cooperation with China in AI is not banarcher.
“I would hope that Canada can work creatively in this area,” he said, pointing to the management of the use of AI – Helping to establish a framework of policies and laws for its use.
Soft power
It is one of the most obvious ways to approach the shores of new friendships and partnerships through the use of soft power, something the two countries have done in the distant past.
At one point, Chinese students did the highest proportion of international students in Canada.
Thin ccbc sayys can happen again.
“Canada’s economy is closely aligned with China,” said Bijan Ahmadhi, the Council’s Executive Director, in an email.
“[This] creates a natural openness throughout this diverse range, [including] education. ”
Canada’s tourism sector has also taken a hit in recent years, as Huech Huawei CEO Meng Wanzhou was arrested in Vancouver in a US extradition trial approved in 2018.
When China eased the group’s travel restrictions during the Covil-19 pandemic in 2023, Canada was left off the approved list.
That is changing, however. Recently, the government decided to allow group tours in Canada againwhich was celebrated by many in the tourism industry.
“[Chinese tourists] Usually stay longer and spend more because there is such a big difference in making that commitment to travel all the way here,” said Royce Chwin, President of Destination Vancouver.
Soft power is also possible abroad with the help of aid in the Indo-Pacific countries.
Canada can increase the vacuum caused by the Trump ban US agency for international development (USAID)said Lynette Ogg, professor emeritus of Chinese politics at the University of Toronto.
“Aid is a good way to buy soft power,” he said. “I can double, even triple that.
“You need to pay them back for being on their side.”
‘Eyes open’
For all the work Canada does in the months and years ahead, analysts say there is a way to measure the risks.
“We’re starting to see that their system is completely different than our system,” said Robertson, who admits there are still concerns, including human rights issues and cyber interference.
That, however, they can all be part of the law enforcement officers must remember as they make a new strategy for China.
“China itself will demand that from us,” said Roberston.
