As the world’s economic centre of gravity shifts East, British Columbia’s strategy to position itself as Canada’s gateway to the Asia Pacific will be extremely important. Asia kept growing when the US stumbled due to the fact that the growth in Asian economies has shifted increasingly towards domestic-demand-led growth. Asia was able to respond to the global financial crisis with its own programs of monetary easing. Efforts such as China’s infrastructure boom are providing the country with much needed roads, bridges, and train lines, which have served to increase domestic demand and as a result, bolster consumer spending. This article outlines the importance of repositioning your strategy to meet the changing business environment. As Canadian governments and companies saw the growth potential in the economies of Asia, they developed strategies to diversify their trading relationships from being focused on the U.S. By reducing their reliance on the American market, Canadian governments and companies have also reduced the risk of having their business impacted by the economic downturn of any one country. An evidence of this risk reduction is the relative health of Canada’s economy and particularly British Columbia’s economy, in comparison to their sluggish American counterpart.
Below is a link to the article:
http://www.vancouversun.com/business/Shift+economic+well+being+raises+stakes+gateway/3670148/story.html
