It became rather clear during the past three months that both the United States and the European Union will not be able to generate much economic growth for a while as neither of them has a plan to solve the issue of oversized government debt.

The loss of confidence in the United States and the European Union, which takes up the majority of Canadian exports, turned our eyes to China, our second-largest trading partner and one of the fastest-growing investors in Canada. Our ties with China have proven to be a lifesaver in the past. During the recent recession, when trade with every other major economy fell dramatically, exports to China kept rising.

Why must we strengthen ties with China instead of some other countries?

The amount of exports to Japan has hardly changed in a decade. Russia and Brazil are competitors as much as customers. India, although demonstrating great potential, will have to remain outside of our consideration for the moment as it is conveniently close to the Middle East, the main source of its oil imports.

In many ways, strengthening ties with China is no longer a matter of enlightened self-interest, but economic survival.