-After reading: Barrie McKenna, “Ottawa urged to build bridges
with china”, Globe and Mail, October,
19, 2011, Report on Business.
Canadian business leaders are urging Ottawa to diversify the Canadian economy and build more bridges with the Asian market for two reasons. One, diversifying lowers risk. Canadian companies rely a lot upon exports to the United States, if something bad happens in the states Canada will be effect dramatically and quickly due to the Canadian economy’s non-diversified reliance on US. Plus the USA economy is already not doing very well, Ben Bernanke’s QEs has showed little boost in US economy. Two, Asian markets are growing very fast. Not only will Canada decrease its risk but also may gain more profit by building more ties with the emerging Chinese market, for example. At this current time when the US economy is not very prominent, and some Asian markets really rising fast it seems right, it not already too late, to build more ties with Asia. Not only will Canada diversify its economy, lowering its risks, but also see more opportunities to gain more developments and profits.