Stephen Harper has gone to APEC summit in Bali in an effort to drum up support for trade and foreign investment. In my opinion, both the Asian markets and investment from Asia are important for Canada.
Asian markets are necessary for Canada. The demand from China’s large middle class is huge. In Japan and Korea, people with high income are able to buy foreign products. In India, the population is growing, and in a few years population in India will exceed that in China. More people mean more demand. Canadian companies should try to be the first ones to enter new Asian markets because the easiest way to attract consumers is to be the first company which enters that market and positions the company properly into people’s minds. People will then remember the company, which is a great advantage for that company over its competitors.
Investment from Asia is necessary for Canada. International investment in Canada can create jobs for Canadians. It helps Canadian economy grow and makes Canada more open and internationally known. Harper will talk about Malaysia’s future $36-billion investment in Canada with Malaysia’s president at APEC, which is a good sign of attracting international investment.
In conclusion, Asian countries’ economies are fast growing. Canada should attract more Asian investment, and Canadian companies should seek opportunities to expand in new Asian markets before they are too crowded.
sources:
http://www.cbc.ca/news/politics/harper-heads-to-apec-summit-amid-concern-over-asian-ties-1.1893933